National Mortgage News - October 2022

CROSSING CROSSCOUNTRY

Why several rivals are suing the mortgage lender, and why it may not matter

The only way to address inflation is for Congress to fix issues around home supply and demand, the National Housing Coalition said in reaction to the Federal Reserve's move Wednesday.

The former head of the agency said a decision last year to suspend caps on investor loans has further induced demand in an already hot market. Other experts say a supply-demand imbalance is the true driving force.

Experts review scenarios that could cause Federal Reserve chairman Jerome Powell to reverse course on a decision this week that left some lenders breathing a sigh of relief.

Historically tight underwriting reinforced by regulation and third-party reviews could be buffers, so long as manufacturing standards for production and servicing hold up as residential mortgage companies downsize, according to KBRA.

A couple squatted in their foreclosed home since 2009 and are only now being evicted, highlighting stubborn problems in the foreclosure process.

The Federal Housing Finance Agency's new office will assess technology solutions for an industry viewed by many as too slow to embrace digital efficiencies.

Firms can take advantage of powerful tools from big technology companies but must be wary when sharing large amounts of data or ideas, experts said.

Waivers boomed during the pandemic's refi wave and the recent automation of desktop appraisals have provided additional flexibilities, but their applications are limited in the current market.

The Department of Housing and Urban Development is investigating allegations that the real estate appraisal standards written by the Washington nonprofit perpetuate discrimination.

After 90 years, it is time to examine whether the system is still fulfilling its intended mission to provide liquidity for its members to make mortgages.