National Mortgage News - September 2021

The future of automation in mortgage

Congress included funding for such assistance in its infrastructure bill.

The companies are investing more in government-insured equity withdrawal products for borrowers ages 62 and up, which offer higher returns.

Many banks reported sharp declines in income from home loans during the second quarter. The large gains they enjoyed last year thanks to a surge in refinancing activity are unlikely to return, according to bankers and analysts.

Originations of loans to the self-employed and other outside-the-box borrowers had better margins than mainstream mortgages in the second quarter, but rebuilding after the niche market’s temporary disruption last year generated significant expenses.

In a best-case scenario, the money could wipe out almost one-third of the pandemic-related increase in missed payments, but it won’t exclusively be used for that purpose.

But 45% of the top 100 counties still have an above-average likelihood that borrowers won’t make their payments on these business-purpose loans, RealtyTrac said.

The most vulnerable areas all have the same things in common: relatively moderate price appreciation and affordability hurdles — either due to high home values or employment issues.

Whether it’s ransomware or a natural disaster, a sudden freeze on operations can be devastating, and the recent incident highlights why mortgage industry businesses must constantly review their data security efforts.

The deal comes just days after Figure closed on a capital raise that valued it at $3.2 billion.

The agency developed measures taking effect Aug. 31 that, among other things, will allow lenders to prioritize foreclosures of the most impaired loans and then focus on modifying salvageable ones.

This year's assessment for Fannie Mae and Freddie Mac is the first to take into account a January agreement between the Federal Housing Finance Agency and the Treasury Department that allowed the companies to retain more earnings.

In assuming that credit unions have the same risk profile as nonbank lenders, the mortgage insurer is now threatening to exclude nearly a quarter of them from being qualified issuers of the securities it backs, writes the Senior Director Of Advocacy and Counsel at the Credit Union National Association.