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Industry News

This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry. 

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February 15, 2023

HousingWire Interview: 2023 will be a brave new servicing world

You may not have heard the terms “dual pathing” or “single point of contact” lately, but just wait. COVID-era forbearances are ending and odds are some borrowers won’t be able to come current on their loans without help. HousingWire recently spoke to Amanda Phillips, executive vice president of compliance at ACES Quality Management, about getting servicing staff and technology ready to meet upcoming regulatory requirements while ensuring quality throughout the life of the loan.

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February 14, 2023

Fannie Mae sees profits fall in Quarter 4

Mortgage Professional America--Fergal McAlinden

Fannie Mae’s net income fell by $1 billion in the 4th quarter from the 3rd quarter of 2022, as a result of the shifting housing market.

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February 14, 2023

Maximizing Servicing Revenue Requires Stringent QC Processes

Mortgage applications have been on the rise for the last three weeks. As we began the year at record-low applications since 1996, this is some much-needed optimism for the industry.

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February 13, 2023

MBA Advocacy Update Feb. 13, 2023

MBA Newslink

This update includes information relating to the new DTI based LLPA, court rulings, and more.

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February 10, 2023

Reverse Mortgage Program is a Fraying Senior Lifeline

Reverse Mortgage Daily--Chris Clow

Serious weaknesses in the home equity conversion mortgage program sponsored by FHA have been brought to light that will need to be substantively addressed by FHA and Ginnie Mae in order to keep the program accessible for American seniors, according to experts.

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February 08, 2023

MBA Letter Voices Concerns Over FHFA DTI-Based LLPA

MBA NewsLink

The Mortgage Bankers Association expressed concerns regarding the Federal Housing Finance Agency’s announcement of changes to loan-level price adjustments by GSEs, notably the addition of an LLPA based on the debt-to-income ratio.

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Reserve Your Seat

February 07, 2023

Rising Home Prices Flatline

DS News--Kyle G. Horst

According to a report from HouseCanary, rising home prices have flatlined due to low market activity, while median home price averages have remained the same month-over-month.

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February 07, 2023

Bankruptcies Up Nearly 20%

DS News--Kyle G. Horst

According to new bankruptcy filing data from Epiq Bankruptcy, bankruptcies of all types are up and the total amount of filings in January 2023 was 31,087, a 19% increase from the 26,215 reported in January 2022.

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February 06, 2023

Homebuilder's Earnings Report Mirrors Housing Turmoil

MPA--Tony Cantu

Builder's 4th quarter earnings report provides insight into the shifting landscape.

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February 06, 2023

MBA Advocacy Update Feb. 6 2023

MBA Newslink--Bill Killmer; Pete Mills

This update includes information on the Federal Reserve rate increase, the debt ceiling, current legislation and more.

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Learn Why Clients Love ACES

Learn Why Clients Love ACES

"ACES has made my life so much easier from a QC perspective. It's life-changing"

- Kelly Cooper Spencer, QC & Business Intelligence Data Manager at Thrive Mortgage

Hear Why

January 30, 2023

MBA Advocacy Update Jan. 30, 2023

MBA Newslink--Bill Killmer; Pete Mills

This week’s bulletin includes information on MBA’s Mike Fratantoni testifying to FFIEC on appraisal reform, Ginnie Mae announcing the effective date for new re-pooling requirements, and the Federal Reserve setting an effective date for LIBOR Termination, and Illinois extending the comment period for new CRA Rules; Maryland introducing new CRA Bill.

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January 27, 2023

New REO Inventory on the Rise

DS News--Kyle G. Horst

According to a Fitch Ratings report, new REO inventory of properties in the 1-179 day category, have increased by 14.5%, reflecting an increase in active foreclosure filings in the 4th quarter of 2022.

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January 26, 2023

State AG's File Lawsuits Against Brokerage Program Touted as "Loan Alternative"

Weiner, Brodsky, Kider P.C.- Financial Services Update

Lawsuits have been filed by three states' attorneys general alleging violations of consumer protection laws against a program offered by a real estate brokerage in at least 33 states and advertised as a "loan alternative".

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January 25, 2023

Biden-Harris Administration Announce Blueprint for Renters Bill of Rights

The Biden-Harris administration announced efforts to protect renters and rental affordability including a set of principles known as the "Blueprint for Renters Bill of Rights".

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