The Mortgage Bankers Association nominated Jeff Weidell, CEO of Northmarq, as its vice chairman for 2027. Processing Content Weidell will be installed as vice chairman at the MBA’s 113th Annual Convention and Expo in Chicago in October. After serving a year in the role, Weidell is expected to be chairman-elect during the 2028 membership year […]
Mortgage Bankers association nominates 2027 vice chairman Read More »
The Mortgage Bankers Association (MBA) is urging the mortgage industry to develop a unified framework for managing artificial intelligence as lenders increasingly deploy AI tools across origination, servicing and customer engagement. In a white paper released Wednesday, the association said AI technologies are rapidly becoming embedded throughout the mortgage process, from customer service chatbots and
MBA white paper urges unified AI framework for mortgage lenders Read More »
The Mortgage Bankers Association (MBA) on Tuesday announced the launch of a new member forum dedicated to reverse mortgages and other senior-focused mortgage products. The Senior Mortgage Solutions Network (SMSN) will provide MBA members a venue to discuss emerging trends, policy developments and business challenges tied to lending to older homeowners. Its scope includes Home
MBA launches senior mortgage solutions network Read More »
The U.S. Department of Housing and Urban Development (HUD) is seeking public feedback on whether the Federal Housing Administration (FHA)’s property requirements for single-family homes should be updated to better reflect current market conditions and reduce barriers to homeownership. In a request for information (RFI) published in the Federal Register, HUD said it is reviewing
HUD seeks feedback on FHA minimum property requirements Read More »
Surging interest rates pushed housing affordability lower for the second straight month in April, but rising wages helped blunt the blow for mortgage borrowers, according to the Mortgage Bankers Association. Processing Content The median monthly payment on April’s purchase mortgage applications increased to $2,152 from $2,131 the previous month, with the latest number hitting its
Wage growth softens the sting of rising mortgage payments Read More »
Homebuyer affordability declined in April as the national median payment applied for by purchase mortgage applicants rose to $2,152, up from $2,131 in March, according to the Mortgage Bankers Association (MBA)’s Purchase Applications Payment Index (PAPI) released Thursday. The national PAPI rose 0.3% to a reading of 156.0 in April, up from 155.5 in March,
Homebuyer affordability slips in April as median mortgage payment rises to $2,152 Read More »
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
CFPB prioritizes Reg X, GSE streamline refis as LO Comp hopes fade Read More »
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
Land leases, ARM buydowns emerge as lending options while mortgage rates stay elevated Read More »
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
Lenders wrestle with the nuances of modern credit score pricing Read More »
The increased workload from recent changes in Federal Housing Administration-backed loan servicing means any future strategy to counter today’s rising numbers must include engagement to change borrowers’ mindset, mortgage leaders say. Processing Content Years of relief measures introduced during the COVID-19 pandemic, beginning with automatic forbearance following any stated financial hardship, created a change in
FHA servicers brace for slow, steady delinquency climb Read More »