National Mortgage News - January/February 2023

CONNECTING WITH TOMORROW'S BORROWERS

For those willing to experiment with the strategy, it could be a long-term differentiator.

First tip: Don't rely too heavily on mobile to reach them.

LOs are building relationships to hesitant consumers by offering seminars and online videos that answer the questions they're afraid to ask.

Mortgage experts generally expect the switch to open up lending and potentially improve the predictability of loan performance — but some are worried about potential costs.

Ongoing weakness in housing markets and the economy has now driven purchase activity to its lowest level since 2015, while overall application numbers decreased for the 10th time in 11 weeks.

Plans rolled out by a United Wholesale Mortgage and by Fannie Mae and Freddie Mac could cut costs, but the American Land Title Association warns that the tradeoff is less protection from certain risks.

They have a range of positions in the mortgage market; and some investors believe they could be bought at a discount now, potentially gaining value later when interest rate stability returns.

The delay acknowledges concerns some companies and trade groups have had about compliance with the requirement.

Delinquencies are on the rise for FHA-backed loans, with nearly 10% of low-credit borrowers in early payment default. Economists and policy experts say this could signal trouble ahead for other credit products.

The parent company Ocwen is contesting the award from the arbitrator, who ruled the company made a false offer to the borrower.

Regulators are raising alarm over the design applications that can manipulate consumers into buying products or services or compromise their personal information.

Urban Institute research backed by the Federal Home Loan Bank of San Francisco suggests using rent and utility reporting for this purpose is complicated but has a net benefit.

Ramon Richards discusses Fannie's tech roadmap for 2023, retaining tech personnel, and relying on third party vendors

Legal experts are gaming out the various options for the CFPB after a three-judge panel of the U.S. Court of Appeals for the 5th Circuit ruled on Oct. 19 that the bureau's funding is unconstitutional.

As the MBA meets in Nashville, many IMBs will be looking for buyers or wondering whether to turn off the lights entirely and go home, writes the Chairman of Whalen Global Advisors.