This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
MBA Newslink
According to a recent report from the MBA weekly Mortgage Application Survey for the week ending October 7, 2022, mortgage interest rates have risen to their highest level since 2006, decreasing mortgage application activity to a 25-year low.
M Report – Kyle G. Horst
The Office of the Comptroller of the Currency (OCC) has reported that the performance of first-lien mortgages held by the federal banking system improved throughout the second quarter of 2022.
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MBA Newslink--Bill Killmer; Pete Mills
This weeks update includes information on small balance FHA loans, HMDA Federal court ruling, streamlining of VA appraisals, and more.
MBA Newslink
The MBA's grassroots advocacy arm, the Mortgage Action Alliance, issued a Call to Action, urging its members to contact their senators to support a bill that would streamline the appraisal process for Department of Veterans’ Affairs mortgage loans.
DS News–Eric C. Peck
Black Knight has launched a new Climate and Natural Hazards Risk Data Solutions Suite to help identify properties impacted by natural disasters and mitigate future climate-related risks.
DS News - Demetria Lester
According to recent statistics from Epiq's Bankruptcy Analytics platform, U.S. bankruptcy filings rose 7% across all chapters for the second consecutive month in September.
PacRes Mortgage Improves Quality Control Accuracy by over 30% While Decreasing non-compliance incidents by 25%
The Justice Department's Transnational Elder Fraud Strike Force has been expanded by adding 14 additional US Attorney's Offices in an effort to protect older Americans from fraud.
MBA NewsLink
The Mortgage Bankers Association reported in its Weekly Mortgage Applications Survey on October 5, 2022, that mortgage applications took a big hit last week, falling to their lowest level in 25 years as interest rates rose to their highest since 2006.
MBA NewsLink
Black Knight reports home prices decreased in August for the second consecutive month.
MBA NewsLink
Redfin reported that the average homebuyer’s monthly mortgage payment has increased by $337 (15%) over the past six weeks.
"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
MBA Newslink--Bill Killmer; Pete Mills
This weeks update includes information on housing sustainability and affordability, duty to serve, agency and state updates and more.
M Report – Eric C. Peck
According to Freddie Mac’s most recent report reports, the 30-year FRM averaged 6.70%, with an average of 0.9 points as of September 29, 2022, up from last week’s average of 6.29%.
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the new residential sales statistics for August 2022.
MBA Newslink - Mike Sorohan
The Mortgage Bankers Association has released what you need to know for the week of September 26, 2022.
