- CFPB funding is constitutional, Second Circuit court rules March 23, 2023The Second Circuit Court of Appeals decided the CFPB's funding structure is constitutional; the Supreme Court will rule on a related case in 2024.
- Brokers, here’s how to market yourself as a non-QM broker March 23, 2023The right lender partner will offer its brokers valuable resources, such as dedicated support, education and training on non-QM products. The best non-QM lenders walk brokers through every step of their non-QM process and even offer marketing materials that they have created that brokers can leverage for their own white labeling purposes.
- Low housing inventory a win for homebuilders March 23, 2023If national housing inventory were back to normal, we would have 2 to 2.5 million active listings of direct competition for homebuilders.
- Warehouse lenders facing fallout from industry woes March 23, 2023Recent bond-rating reports shine a spotlight on the deposit and investment-portfolio shortcomings of two banks offering warehouse lines – Comerica and Western Alliance.
- With mortgage rates dropping, the conforming and jumbo loan spread narrows March 23, 2023Freddie Mac's Primary Mortgage Market Survey showed on Thursday that the 30-year fixed-rate mortgage at 6.42% as of March 23, down 18 basis points from the previous week.
- FHFA announces timeline to sunset FICO Classic credit model March 23, 2023Full implementation of the transition to FICO 10T and VantageScore 4.0 and should occur in Q4 2025, the FHFA said.
- White House marks one year of PAVE appraisal bias action plan March 23, 2023The Biden administration is highlighting the actions it has taken since establishing an appraisal bias action plan one year ago.
- New home sales climb in February for the third straight month March 23, 2023New home sales rose yet again in February, jumping 1.1% month over month to seasonally adjusted annual sales pace of 640,000.
- Median payment on purchase mortgage application rises to $2,061 March 23, 2023Buyers continue to feel the pinch from high mortgage rates and still-elevated home prices. But those committed to buying a new home are really committed, LOs said.
- Mortgage prepayment rebounds as spring home buying season takes hold March 23, 2023Prepayment activity nearly doubles between January and June, but with refi near record lows, season impacts will be more noticeable.