The disappointing spring home purchase season influenced the second quarter results of the publicly traded title insurance underwriters. Certain metrics were strong, with pretax title margins at three of the companies’ showing significant gains versus the second quarter. Stewart was up 630 basis points, First American reported a 530 basis point rise and Fidelity National […]
Title insurers see margins rise, sales still weak Read More »
As artificial intelligence (AI) transforms housing, mortgage lending and real estate sales, industry leaders will gather Tuesday in Dallas for HousingWire’s AI Summit to discuss the opportunities and challenges presented by the emerging technology. Summit speakers include Eric Forney, director of expansion at Keller Williams, and LaTasha Waddy, chief legal officer at NFM Lending, who
HousingWire AI Summit to address tech’s promise and pitfalls Read More »
A takeaway from Blend Labs’ latest earnings is that, although it’s growing consumer banking broadly, the mortgage operations are the biggest investment theme in the short term, Keefe, Bruyette & Woods said. “The company’s expansion into consumer banking adds a new growth vector that should be synergistic with Blend’s mortgage client roster and positions the
Blend ‘turns corner’ and reduces GAAP losses in 2Q25 Read More »
In an interview with National Mortgage News, former Federal Home Loan Bank of Chicago executive Steve Thomas complained about the current lack of product development in the mortgage business. That is likely because of a reluctance among lenders to create those unique programs outside of the agency and government spectrums especially since Monday morning quarterbacks
Breaking the mold: new mortgage products emerge Read More »
Some loosening in mortgage underwriting contributed to the 8-basis-point quarter-to-quarter increase in the Milliman Mortgage Default Index. This measurement is an estimate of the lifetime serious delinquency rate, which Milliman defines as loans for which the borrower is 180 or more days late on their payments. It looks at loans acquired by the government-sponsored enterprises
Looser underwriting boosts serious default risk in 1Q25 Read More »
The opinions published in National Mortgage News (“Credit Scores Are Not the Issue” by Christopher Whalen; “Pulte’s hands credit bureaus an unfair edge” by Chi Chi Wu), are incorrect and misleading. Contrary to the views expressed in those pieces, competition and modernization in the mortgage credit scoring system are significantly enhanced by VantageScore being allowed to compete by the FHFA.
Credit score competition reduces mortgage market risk Read More »
The rise in home equity lending should continue through the end of next year as conditions feeding current growth in the product will drive the market, a new study from the Mortgage Bankers Association has found. In 2024, the total combined HELOC and outstanding home equity loan debt grew 10.3%, according to the MBA’s 2025
Home equity products set to grow in 2025, 2026, study finds Read More »
Bill Pulte, director of the Federal Housing Finance Agency (FHFA) recently roiled the mortgage market with a post on X, writing “Fannie [Mae] and Freddie [Mac] will ALLOW lenders to use Vantage 4.0 Score with no current requirement to build new infrastructure (stays Tri Merge).” Not only is it highly unorthodox to be making huge policy decisions
Pulte’s tweet hands credit bureau an unfair edge Read More »
In 2023, Steve Thomas started a new correspondent lender, Futurewave Finance. His three decades in the mortgage industry include servicing as the senior managing director of mortgage capital markets at the Federal Home Loan Bank of Chicago, as well as time at Fannie Mae. From his time in the FHLB system, Thomas learned that community
Why Futurewave bets on bank-focused non-QM loans Read More »
Five Senate Democrats are raising concerns about the potential risks of using unconverted cryptocurrency assets in mortgage underwriting, urging the Federal Housing Finance Agency (FHFA) to tread carefully. In a letter addressed to FHFA Director Bill Pulte, the senators reacted to his social media post from late June, in which Pulte said the agency is
Senate Democrats press FHFA on crypto use in mortgages Read More »