National Mortgage News - October 2023

CREATING AN INCLUSIVE, DIVERSE MORTGAGE INDUSTRY WORKFORCE

Arizent released the findings of its third annual DEI report.

New American Funding's Patty Arvielo found hiring initiatives can help match lending with demographics but says hurdles to recruiting in general are high now.

Designated mortgage professionals who can work in community outreach as well as regular monitoring of program outcomes are also important components that will help programs meet goals, industry leaders say.

Lenders are brushing up on ways to minimize losses associated with the increasing costs to fund mortgage pipelines.

The mortgages are part of a program that received congressional scrutiny earlier this year.

But at the same time, the publicly traded company is selling off another type of housing finance asset to some large depository institutions.

The company allows borrowers to access a multitude of home services, promoting recapture and retention for both real estate firms and mortgage servicing rights inventors.

The FBI, NSA and CISA highlighted the emerging dangers of AI-powered deepfakes in phishing campaigns and cataloged protections companies can deploy.

The head of the Consumer Financial Protection Bureau defended the agency and its mortgage rules in particular on the 15th anniversary of the collapse of Lehman Brothers.

The impact on things like servicing rights would raise costs even for lenders that aren't banks, according to Mortgage Bankers Association President and CEO Bob Broeksmit. Others disagree.

Also, Appraisal Institute appoints new CEO, Common Securitization Solutions names technology officer and two new lenders move into reverse mortgage.