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Rocket expands on VantageScore 4.0 pilot for agency, VA loans

Credit Score, FHFA, FICO, HWmember, LendingLife, Mortgage, Origination, Rocket Companies, Rocket Mortgage, VantageScore /

Rocket Mortgage and Rocket Pro provided additional details this week on their rollout of VantageScore 4.0 in mortgage lending after officially announcing last week that they have started using VantageScore 4.0 alongside Classic FICO scores. Heather Lovier, chief operating officer of Rocket Companies, told HousingWire that VantageScore 4.0 can currently be used for Fannie Mae, Freddie Mac and […]

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Beeline seeks to buy remaining MagicBlocks stake

Artificial Intelligence, HWmember, LendingLife, Mergers and Acquisitions, Mortgage, Technology /

Beeline Holdings Inc. has signed a letter of intent to acquire the remaining stake in MagicBlocks, an AI-focused real estate technology firm that powers the lender’s chatbot and digital infrastructure. The deal is non-binding at this point, meaning either party can still walk away before signing a definitive agreement, the companies announced Thursday. Beeline currently

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CFPB prioritizes Reg X, GSE streamline refis as LO Comp hopes fade 

CFPB, Consumer Financial Protection Bureau, HWmember, LendingLife, Loan Officer, Mortgage, Mortgage Bankers Association, Mortgage Servicing, Refinancing, Regulatory /

The Consumer Financial Protection Bureau (CFPB) could finalize changes to its Regulation X servicing rules while creating a regulatory pathway for streamlined refinances through the government-sponsored enterprises (GSEs) by the end of this year, mortgage industry sources told HousingWire. Meanwhile, prospects for changes to the loan originator compensation rule (LO Comp Rule) — particularly revisions

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Land leases, ARM buydowns emerge as lending options while mortgage rates stay elevated

Adjustable-Rate Mortgage, Bank of America, Buydown, Freedom Mortgage, Guild Mortgage, HWmember, JPMorgan Chase, LendingLife, Mortgage, Mortgage Bankers Association, Origination /

Mortgage lenders are getting creative to combat the housing affordability crisis fueled by rising interest rates, rolling out novel products and blending existing options to keep borrowers in the market. Bayview Asset Management — which closed its acquisition of Guild Mortgage in November — rolled out a new program on Monday. Partnering with real estate

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Lenders wrestle with the nuances of modern credit score pricing

Credit Score, FICO, Guild Mortgage, HWmember, LendingLife, Mortgage, Mortgage Bankers Association, NewRez, Origination, VantageScore /

Mortgage lenders are currently wrestling with a high-stakes puzzle: how to accurately compare the new credit score models hitting the market. The differences are significant and carry major implications for risk assessment, loan pricing and secondary market returns. In late April, the Federal Housing Finance Agency (FHFA) rolled out a program allowing the exclusive use

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FHA turns attention to the ‘flipping rule’ and AVMs

Automated Valuation Model, Delinquencies, Federal Housing Administration, FHA loan, Fix and Flip, HWmember, LendingLife, Mortgage, Origination /

The Federal Housing Administration (FHA) would like to review its anti-flipping rule and reforms to automated valuation models (AVMs), according to Matt Jones, deputy assistant secretary for the FHA’s Office of Single-Family Housing. “We think our AVM, our valuation technology, has improved significantly since that rule was put in place a couple decades ago,” Jones

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Ginnie Mae’s Joseph Gormley sounds the alarm on ‘risk-layered’ FHA portfolios

Delinquencies, FHA, FHA loan, Ginnie Mae, Government Lending, HWmember, LendingLife, Mortgage, Mortgage Servicing, Servicing /

Ginnie Mae President Joseph Gormley, who is also serving as acting commissioner of the Federal Housing Administration (FHA), said the counterparties participating in Ginnie Mae’s program have evolved significantly since the Great Financial Crisis, with greater exposure to independent mortgage banks (IMBs) that have invested heavily in governance and risk management. Still, he cautioned that

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How loan officers are saving deals as mortgage rates cross 6.6%

HWmember, LendingLife, Loan Officer, Mortgage, Mortgage Rates, Origination, Sales Techniques /

Loan officers are shifting their playbooks to keep deals alive as mortgage rates climb north of 6.6%. Originators are encouraging borrowers to ask for more seller credits, recalibrate their home search criteria and rush to close deals as quickly as possible. Rates for 30-year fixed mortgages reached 6.62% on Friday afternoon, up 5 basis points

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KBW says UWM is well positioned despite market pressures

Artificial Intelligence, HWmember, Keefe, Bruyette & Woods, LendingLife, Mortgage, Mortgage Broker, Origination, Servicing, Subservicer, United Wholesale Mortgage /

Analysts at Keefe, Bruyette & Woods (KBW) said UWM Holdings Corp., the publicly traded parent company of United Wholesale Mortgage (UWM), is positioned for continued growth despite elevated interest rates. It points to expanded broker market share, in-house technology investments and a push to bring mortgage servicing operations fully in-house. In a research note published

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Better cuts costs, expands HELOC push amid mortgage market volatility

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Executives at Better.com said the conflict in Iran is causing some borrowers to delay closing on mortgages, prompting the company to lean more heavily on home equity lines of credit (HELOCs) to sustain origination volume. At the same time, the New York-based digital mortgage lender continues to cut costs in an effort to meet its

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