This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
Mortgage Professional America – Candyd Mendoza
According to the Freddie Mac Mortgage Market Survey the 30-year fixed-rate mortgage reaches a record high of 7.08 percent.
DS News--Eric C. Peck
Ginnie Mae’s mortgage-backed securities portfolio outstanding grew to $2.3 trillion last month, boosted by $37 billion of total MBS issuance, leading to $23 billion of net growth reflecting the agency's role in supporting first time homebuyers.
Search our Compliance Calendar for current regulatory changes & updates.
DS News - Kyle G. Horst
According to ATTOM Data’s Foreclosure Market’s most recent report, foreclosure activity was up nearly 60 percent in October 2022.
DS News--Kyle G. Horst
According to a report from Black Knight, the number of underwater homeowners has climbed nearly 275,000 over the past four months while on a national scale, just 3.6% of borrowers are underwater or have less than 10% equity and just 0.84% are considered to be in a negative equity positions.
DS News - Kyle G. Horst
Bankruptcy filings across the U.S increased in October, according to bankruptcy data from Epiq.
MBA Newslink--Bill Killmer; Pete Mills
This week’s update includes information on the FHFA announcement at MBA’s Annual Convention that it would eliminate upfront fees, MBA Closely Monitoring NMLS Renewal Process, and Federal Reserve Announces Fourth 0.75 Percentage Point Interest Rate Hike.
"By partnering with ACES, we have witnessed an overall improvement in the quality of our reviews."
-Hilda Melendez, Quality Control Systems Director at Lennar Mortgage
One-on-one meetings with the OCC Office of Innovation's representative will be available virtually on December 14-15, 2022.
MBA Newslink
CoreLogic has reported that 2.8% of all U.S. mortgages were in some stage of delinquency, a 1.2 percentage point decrease from 4% a year ago.
MBA Newslink - Caitlin Groves
MISMO asked for public comments on a new Flood Risk Disclosure Resource Guide designed to help homeowners and industry participants understand potential flood risks by listing publicly available resources, factors, and information that may be useful.
DS News - Demetria Lester
Ginnie Mae announced the extension of the implementation date of the RBC requirement to December 31, 2024.
"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
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The Mortgage Bankers Association predicts mortgage rates will return to around 5.4% by the end of 2023.
DS News - Eric C. Peck
The FHFA has announced changes to the GSE’s guarantee fee pricing by disregarding upfront fees for specific borrowers and affordable mortgage products while implementing targeted increases to the upfront fees for most cash-out refinances.
MBA Newslink
The Mortgage Bankers Association predicts the total mortgage origination volume will decline to $2.05 trillion in 2023 from the $2.26 trillion expected in 2022.
MBA Newslink--Bill Killmer; Pete Mills
This week’s update includes information on Ginnie Mae Extends Implementation Deadline for Risk-Based Capital Requirement, VA Publishes Loss Mitigation ANPR, and more.
