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Underwriting

Lenders get a better view of condo blacklist but want more

Condos and HOAs, Secondary markets, Underwriting /

Four years after a notorious condominium collapse that suddenly tightened home lending standards, influential government-sponsored enterprises have soothed some industry tensions, but lenders say there’s still more to be done. “Increased transparency regarding which condo projects are and are not on Fannie and Freddie’s approved list has been a big CHLA priority — so we […]

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FICO adds BNPL data to credit-scoring models

Credit, Credit scores, Originations, Underwriting /

FICO has updated its latest credit score models to include buy now, pay later data, showing how important this pandemic-era tool has become in the overall consumer debt market. The credit score algorithm provider has introduced the capabilities in FICO Score 10 BNPL and FICO Score 10T BNPL. “Our clients tell us that FICO’s initiative

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How to guide military PCS clients through home financing

Housing markets, LOAN PRODUCTS, Originations, The VA, Underwriting /

For many career servicemembers in the U.S. military, relocation is part of the job. Known as a Permanent Change of Station, these reassignments typically happen every two to four years and often involve moving an entire household: spouse, kids, pets and all. This is where lenders and real estate agents can play a critical role

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Mortgage group eyes end of tri-merge reports

Credit reporting, Originations, Secondary markets, Servicing, Underwriting /

The Mortgage Bankers Association has begun to study the feasibility of reducing the government-related mortgage market’s traditional three credit-report pull to a single one, putting a new twist on an old proposal. President and CEO Bob Broeksmit said in a recent blog that the move could fit in with an industry regulator’s interest in promoting

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Why home equity is high but the typical house’s value fell

Originations, Servicing, Underwriting /

The slow erosion in first-quarter home equity from a year ago equates to a four-figure decline in house value, according to Cotality’s latest numbers. The new Cotality study, which follows an earlier report of home equity declines by Attom, shows the trend drove a typical house’s value down by $4,200 at the beginning of 2025

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Trigger leads bill passes in Senate

Law and legal issues, Marketing, Politics and policy, Regulation and compliance, Underwriting /

The Senate on Thursday unanimously passed bipartisan legislation to rein in trigger leads. That follows the House Financial Services Committee’s unanimous approval of  the Homebuyers Privacy Protection Act, an amendment to the Fair Credit Reporting Act, earlier in the week. The mortgage industry now awaits as lawmakers work to reconcile minor differences between the House

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Logan Finance launches new product suite for non-QM borrowers

HWmember, International buyers, Lenders, Mortgage, Non-QM, Origination, Real Estate Investing, Underwriting /

Nonqualified mortgage (non-QM) lender Logan Finance Corp. has launched a new set of loan products designed to serve borrowers who fall outside traditional lending requirements. The “Open Road” product series includes seven mortgage offerings tailored to self-employed individuals, real estate investors and international homebuyers. Logan Finance says the suite is intended to close a growing

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UWM brings back 1% down conventional mortgage

Affordable housing, LOAN PRODUCTS, Mortgage Rates, Originations, Underwriting /

United Wholesale Mortgage is bringing back a conventional purchase mortgage in which the borrower only has to come up with a 1% down payment. A previous version of the product was last offered in May 2024. With this iteration, the mortgage is available up to the conforming loan limit for buyers at or below 80%

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ALTA shakes up leadership: Tomb out, Morton in as CEO

Career moves, Originations, Regulation and compliance, Secondary markets, Title insurance, Underwriting /

Diane Tomb is out as CEO of the American Land Title Association, and there are indications that the departure was not voluntary. Chris Morton, previously senior vice president of public affairs and chief advocacy officer, has been named as Tomb’s replacement. Morton had been in that role since 2020 when he first joined ALTA. “We

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Mortgage credit offerings at loosest in over two years

Economy, MARKETING TO BORROWERS, Mortgage Rates, Originations, Underwriting /

Growth in loan products across the board in anticipation of the annual home purchase season pushed mortgage credit to its loosest in over two-and-a-half years, the Mortgage Bankers Association said. However, rate lock activity fell nearly 6% in May from April, as conforming mortgage rates rose over 16 basis points during the month, a separate

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