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Originations

GSEs’ regulator allows Rocket-Mr. Cooper combo with caveats

M&A, Originations, Secondary markets, Servicing /

The oversight agency for two government-sponsored enterprises greenlighted plans for industry giant Rocket Cos. to buy megaservicer Mr. Cooper, but only under certain conditions. Fannie Mae and Freddie Mac’s regulator will require the new combined company to have “appropriate financial and operating safeguards.” Their regulator specifically is requiring them to each maintain “strict counterparty risk […]

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Cook allegations suggests new mortgage fraud priorities

Fraud, Mortgage technology, Originations, Secondary markets, Servicing /

President Trump’s attempt to fire Federal Reserve Governor Lisa Cook over mortgage fraud allegations has been called part of a larger crackdown, which suggests there could be value in looking at potential changes it points to for lenders. Housing regulator Bill Pulte has claimed alleged fraud findings like Cook’s are not political, in contrast to

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Chase formally reenters HELOC business after five years

Housing markets, MARKETING TO BORROWERS, Mortgage Rates, Originations /

Chase Home Lending has resumed offering home equity lines of credit after a five-year absence from the product, the company announced. While parent JPMorgan Chase has participated in HELOC securitizations, it did not originate or service the loans. In April 2020, just as the pandemic entered full swing, Chase paused taking new applications for HELOCs

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Judge denies motion to dismiss case against HEI platform

Home equity loans, Industry News, Law and legal issues, LOAN PRODUCTS, Originations /

A Massachusetts judge denied a home equity investment platform’s request to dismiss a state lawsuit filed against it in a case that could provide clues to how products from such companies might ultimately be defined.  State Attorney General Andrea Joy Campbell originally sued HEI platform Hometap in February, putting forth multiple claims, including allegations that

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Mortgage-Treasury spread at narrowest point in three years

Economy, Housing markets, MARKETING TO BORROWERS, Mortgage Rates, Originations /

Mortgage spreads reached their narrowest point in three years on Aug. 22, but were still wider than their historic average, Redfin reported. The normal spread, which in this case measures the difference between the 30-year fixed rate mortgage and the 10-year Treasury yield, is in a range between 150 basis points and 200 basis points.

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Why the next rate drop could unlock a $300B refi wave

Originations, Secondary markets, Servicing /

The latest mortgage interest rate drop didn’t change refinancing incentives in the conventional securitized market, but a subsequent decline could, a new FHN Financial report shows. Primary mortgage rates’ dropped roughly 20 basis points in the past month to around 6.6%. The largest range of loans bucketed together in the securitized market and exposed to

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5 trends driving digital mortgage solutions in 2025

Digital mortgages, Originations /

As homebuyers demand faster, easier lending experiences, mortgage professionals are under pressure to deliver speed, compliance, and consistency across every stage of the loan lifecycle. According to Fannie Mae, 75 percent of recent homebuyers cited process acceleration as the top benefit of a digital mortgage process, while 71 percent pointed to ease of use.  With

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As Trump, foes collide, occupancy fraud is spotlighted

Fraud, Originations, Risk management, Secondary markets, Servicing /

With three of Donald Trump’s adversaries now under investigation for occupancy fraud, the practice of misstating a home’s intended use on mortgage applications is drawing fresh scrutiny. We asked experts how widespread the problem really is and what the renewed attention could mean for the industry. The type of fraud a government-sponsored enterprise regulator is

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Underwriting errors push loan defects higher

Fraud, LOAN PRODUCTS, Originations, Underwriting /

Lagging tech adoption and credit underwriting issues were likely contributors to loan quality worsening from a recent record-low rate, according to Aces Quality Management.  The overall critical defect rate rose to 1.31% in the first quarter, shifting away from the fourth quarter’s historical low of 1.16%, the company’s latest report found. Defects rose in three

Underwriting errors push loan defects higher Read More »

Mortgage rates remain flat as markets wait for Powell speech

Economy, MARKETING TO BORROWERS, Mortgage Rates, Originations /

Mortgage rates were unchanged as the markets await what Federal Reserve Chairman Jerome Powell will say on Friday. At the same time, a 10-basis point rise in the 10-year Treasury between Aug. 13 and Aug 18 was partially reversed by two days later in anticipation of a speech possibly hinting at September Fed Funds Rate

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