This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
MReport--
Alanna McCargo has been sworn in as GNMA’s 18th President and is the first Senate-confirmed President for GNMA in nearly five years, and her confirmation is historic as she is the first woman in GNMA’s history to hold this position.
Housingwire--Maria Volkova
Homeownership continues to become less affordable in three-quarters of the nation’s market and per an ATTOM Data Solutions report, from October to December 2021, median home prices in 440 of the 575 counties analyzed had notable home-price growth resulting in 77% of counties included in the report now being labeled as less affordable up from 39% of counties in the fourth quarter of 2020.
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The FDIC's release contains 14 orders that were issued in November 2021.
Bankrate--Jeff Ostrowski
Mortgage rates are likely to remain near historic lows through 2022, rates may climb to 3.75% in 2022 before falling back to 3.5 percent by the end of the year.
Mortgage Professional America--Tony Cantu
CoreLogic recently released a study showing the states with the highest levels of negative equity distribution during the third quarter are Louisiana, Iowa, Illinois and Oklahoma.
Ballard Spahr LLP--Christopher J. Willis & Kim Phan
The FTC plans to move forward on an ambitious rulemaking agenda in many key areas and has provided a clear indication of the direction it intends to take in 2022.
Automated compliance tests to ensure compliance on more loans in less time
MReport - Demetria C. Lester
NAR Chief Economist and SVP of research, Lawrence Yun, unveiled the results of a survey of more than 20 top U.S. economic and housing experts during NAR's Real Estate Forecast Summit.
Mortgage Bankers Association – Adam DeSanctis
According to the Mortgage Bankers Association's (MBA) most recent Commercial/Multifamily Mortgage Debt Outstanding quarterly report, the volume of commercial/multifamily mortgage debt outstanding increased by $64.8 billion (1.6 percent) in the third quarter of 2021.
BAI--Rene Perez
The rise in traditional cybercrime is likely to persist into 2022 possibly breaking new records for ransomware, social engineering, identity fraud and money laundering.
DS News--Eric C. Peck
The rising home price is resulting in higher property taxes pushing the number of foreclosures up impacting some states more than others.
Presented by ACES Quality Management's EVP of Compliance, Amanda Phillips, and Ballard Spahr's Reid Herlihy, Richard Andreano, Jr., and Matthew Morr.
Housing Wire- Flávia Furlan Nunes
According to the Mortgage Bankers Association (MBA) survey published on Wednesday, mortgage applications fell 4% for the week ending Dec. 10.
“Several factors contributed to the increase in the critical defect rate to 2.27% in Q2 of 2021, including the transition from a refinance market to a purchase market, the previous quarter’s falling margins, eviction moratorium uncertainty and rising inflation,” said ACES Executive Vice President Nick Volpe. “As the market continues to transition to primarily purchase transactions, lenders should expect continued volatility over the next few quarters and, therefore, keep a close watch on defects for the foreseeable future.”
Housingwire--Bill Conroy
Non-QM products are making a huge comeback as self-employed borrowers and earners who don’t fit neatly into the QM box, as well as credit challenged borrowers are looking for non-QM produccts.
Mortgage Professional America (MPA) - Candyd Mendoza
MBA's Mortgage Credit Availability Index fell 0.6% to 124.9 in November after three months of increases.
