National Mortgage News - November/December 2023

THE WORST WINTER THE INDUSTRY HAS EVER SEEN

"It's this tough market that's going to build the greatest leaders of our industry, which we will see come forward over the years to come," said the FHA's former commissioner.

Questions about how it will be implemented and whether the rest of the market will follow the agency's lead make the expense involved difficult to estimate.

Though home mortgage issuance has slumped in line with originations, new potential bank capital rules and increased consumer debt consolidation could boost activity for these two subsets in the secondary market.

More than half the amount the Treasury handed down to the states got to recipients even with delays in jurisdictions like Pennsylvania.

The share of companies experimenting with artificial intelligence has increased, but full deployment is another matter, a Fannie Mae survey found.

The Department of Justice alleged that Ameris failed to open a single bank branch or provide home loans in minority neighborhoods in Jacksonville, Florida. Attorney General Merrick Garland said that many similar redlining investigations are currently underway.

Also, the Mortgage Bankers Association welcomes new lobbyist, Snapdocs names new CEO and Dovenmuehle hires chief information officer.

Amid the release of Q3 bank earnings, the Chairman of Whalen Global Advisors ponders whether efforts from the government-related entities help or hurt the independent mortgage bankers that are taking up a greater and greater share of 1-4 family lending and servicing.