The Federal Housing Administration once again is flagging risky loans for manual underwriting.
Since issuing a 2016 warning halting the automated underwriting of loans to borrowers with low credit scores and high debt-to-income ratios, the agency has seen a rise in loans with multiple risk factors.
Read on for more information on the FHA’s plan to update its Technology Open to Approved Lenders (TOTAL) Mortgage Scorecard, which established Review Rule 14.
Credit unions’ loan growth and lending performance are stronger than that of banks, according to a new report from the National Association of Federally-Insured Credit Unions.
For instance, credit unions continue to expand their lending to small businesses while banks’ small business lending is stagnant.
Read on for more details from NAFCU’s fourth-quarter CU Industry Trends Report, which also revealed that loan delinquencies are down in every region.
The third quarter of 2018 saw the second-highest defect level since the TRID rule went into effect in October 2015.
The critical defect rate reached 1.89 percent, increasing about 11 percent from the previous quarter’s 1.71 percent rate, according to a new report from ACES Risk Management (ARMCO).
Read on for company president Phil McCall’s analysis on the ARMCO Q3 Trends Report, which found critical defects related to loan package documentation especially daunting.
The evolving technological landscape, competition from nontraditional market participants and housing affordability continue to be among the biggest challenges facing real estate firms in the next two years.
However, the vast majority of firms are still hopeful about what lies ahead for the market, according to a new report by the National Association of Realtors.
Read on for details from NAR’s 2019 Profile of Real Estate Firms.
Housing discrimination continues to be a concern for the LGBT community, according to a recent report from the National Association of Gay & Lesbian Real Estate Professionals (NAGLREP).
The LGBT Real Estate Report provided an in-depth look at the nation’s LGBT homebuyers, sellers and renters, and examined the continued impact of the 2015 Supreme Court’s Marriage Equality Ruling on the real estate industry.
Read on for key takeaways from the study.
The U.S. Department of Housing and Urban Development has been cracking down on housing discrimination against disabled tenants, multi-generational families and people of color.
HUD recently settled discrimination claims by Minnesota and California housing providers for offering multicultural families less favorable rental terms, refusing to rent to a disabled tenant with an emotional support animal and retaliating against a couple who asked that mold be removed.
Read on to see details from the consent orders and conciliation agreements.
Emerging technologies, data-driven startups and discount brokerages are threatening the traditional Realtor model.
But despite these challenges, real estate agents remain very much in need in the home-selling process, according to a new survey.
Read on for highlights of Clever Real Estate’s poll, which was undertaken to get a clearer picture of the evolving role of the real estate agent – and the mindset of home sellers in 2019.
As the lackluster purchase market trend continues with no end in sight, mortgage lenders are struggling to remain profitable.
But industry advisory firm Stratmor Group has some tips to help lenders stabilize in this environment and build a foundation for future growth.
Read on for critical objectives to help your bottom line while optimizing the borrower experience, renegotiating long-term contracts and evaluating compensation plans.
The National Association of Realtors (NAR) and 27 other industry groups are urging acting Federal Housing Finance Agency (FHFA) director Joseph Otting to prioritize Fannie Mae and Freddie Mac reforms that promote access and affordability in the mortgage market.
The groups stressed that any reform must seek to preserve what works in the current system while avoiding unintended adverse consequences for borrowers, lenders, investors or taxpayers.
Read on for details from the letter.
Department of Housing and Urban Development Secretary Ben Carson announced that Bart Schwartz will be named to serve as a federal monitor to ensure the New York City Housing Authority satisfies the conditions of a recently announced agreement to correct chronically poor housing conditions endured by its residents.
Schwartz is the former head of the criminal division of the U.S. District Court for the Southern District of New York.
Read on for more about the responsibilities Schwartz will have in the new role.
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