Forbearance requests slow to a trickle, Black Knight says

Requests for help from borrowers have slowed with the total number of mortgages in forbearance at about 4.8 million, Black Knight said on Thursday. Only 7,000 mortgages entered forbearance this week, Black Knight said. “Volumes of forbearance plans have flattened, and in fact new inflows … Continue readingForbearance requests slow to a trickle, Black Knight says

Fannie Mae issues lender letter on self-employment income

Fannie Mae issued a lender letter on Wednesday with additional requirements for borrowers who are self-employed.  “Income from a business that has been negatively impacted by changing conditions is not necessarily ineligible for use in qualifying the borrower,” the letter said. “However, the lender is … Continue readingFannie Mae issues lender letter on self-employment income

Redfin begins mortgage lending in Arizona, Delaware, New Hampshire

Redfin, which restarted its home-buying business earlier this month after pausing in March, is now fully back in expansion mode. The online real estate brokerage announced Friday that it is expanding its mortgage lending operations into three new states. Redfin launched its mortgage lending operations in January … Continue readingRedfin begins mortgage lending in Arizona, Delaware, New Hampshire

Brian Brooks takes over as Comptroller of the Currency, lays out plans for banking regulator

Just two months after joining the Office of the Comptroller of the Currency as chief operating officer and first deputy comptroller, Brian Brooks has now ascended to the top job at the banking regulator. On Friday, Brooks officially became the acting comptroller of the currency … Continue readingBrian Brooks takes over as Comptroller of the Currency, lays out plans for banking regulator

Insellerate founder/CEO to speak at June’s engage.marketing summit

In today’s lending environment, interacting with prospective and current borrowers requires more than a phone call or email. Now it’s about tapping into new media channels like social media and text to reach consumers where they’re most active online. That’s the crux of what Josh … Continue readingInsellerate founder/CEO to speak at June’s engage.marketing summit

Housing rebound? To get a home in these cities you have to win a bidding war

Throughout metropolitan areas nationwide, the tight supply of for-sale homes – already constrained pre-coronavirus and intensified in recent months – is continuing. Although the increase in purchase mortgage applications signal a rebound of home-buyer interest and record-low mortgage rates could spur that further, “steeper declines … Continue readingHousing rebound? To get a home in these cities you have to win a bidding war

How data and analytics can give lenders a competitive edge in a changing market

The transition from 2019 into 2020 proved to be more difficult for mortgage lenders than in past years. In the switch of a year and the blink of an eye, the world changed dramatically. The first quarter of 2020 ushered in a sea of change, … Continue readingHow data and analytics can give lenders a competitive edge in a changing market

[PULSE] Does the mortgage industry view foreclosure as a last resort?

This is the second installment of three-piece blog series from former Consumer Financial Protection Bureau Director Richard Cordray. The series challenges the industry on how it should think about foreclosures. Go here for the first piece. Markets are shaped by the forces of supply and … Continue reading[PULSE] Does the mortgage industry view foreclosure as a last resort?

[PULSE] Beware the housing confidence indices

One of the distinctive features of modern economies is constant measurement.  A consequence of many interrelated factors, constant measurement is very much a product of capitalism.  Romi MahajanGuest Author However, in the American economy today, we have gone far beyond simple measurement that’s connected to … Continue reading[PULSE] Beware the housing confidence indices