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VantageScore unveils mortgage resources to ease the transition to 4.0 credit model

November 18, 2024 by bp56691
In preparation for widespread credit scoring changes, leading credit-score and data analytics company VantageScore has launched a Mortgage Resource Center to support lenders transitioning to the VantageScore 4.0 credit model.
Categories Credit, Fannie Mae, Federal Home Loan Banks, FHFA, Freddie Mac, Mortgage, Technology, VantageScore

Credit data shows: There’s no housing crash coming

November 15, 2024 by bp56691
Credit data shows: There’s no housing crash coming
The updated New York Fed credit report shows why we won’t see a housing bubble crash anytime soon, despite what your crazy uncle thinks.
Categories Credit Score, Housing Bubble, Housing Crash, Housing Market, HWmember, Mortgage, QM rule

Chrissi Rhea, co-founder of Mortgage Investors Group, has died

November 15, 2024 by bp56691
Chrissi Rhea, co-founder of Mortgage Investors Group and member of the MBA’s board of directors, died on Nov. 8, at the age of 73.
Categories Bob Broeksmit, LendingLife, Mortgage, Mortgage Bankers Association, Origination, Retail Lending

How Rocket Mortgage plans to win in 2025

November 15, 2024 by bp56691
How Rocket Mortgage plans to win in 2025
Rocket Mortgage’s strategy for 2025 includes acquiring more mortgage servicing rights to capitalize on its eye-popping 85% recapture rate.
Categories Annaly Capital Management, HWmember, Mortgage, Mortgage Servicing, Mortgage servicing rights, Refinancing, Rocket Mortgage, Subservicer, Technology

MMI Fund capital reserve is now 5X larger than required

November 15, 2024 by bp56691
The MMI Fund continued to operate well above its statutory minimum of 2%, though trade associations want more affordability action.
Categories Adrianne Todman, Community Home Lenders Association, FHA, HUD, Julia Gordon, Mortgage, Mortgage Bankers Association

The trigger lead bill looks in doubt post-election

November 14, 2024 by bp56691
The post-election landscape has complicated the mortgage industry’s efforts to pass a trigger lead bill. Backup plans are being formulated.
Categories CFPB, Congress, Election 2024, House of Representatives, Lead Generation, LendingLife, Mortgage, Origination, Regulatory, Senate

Movement Mortgage names Steve Smith president and CFO

November 13, 2024 by bp56691
Top retail mortgage lender Movement Mortgage named longtime industry executive Steve Smith its newest president and CFO.
Categories LendingLife, Mortgage, Movement Mortgage, Origination, People Movers

Rocket’s origination volume jumps 28% in Q3

November 13, 2024 by bp56691
Rocket’s origination volume jumps 28% in Q3
Detroit-based Rocket Companies saw its strategy of investing in technology and expanding its servicing portfolio start to pay off in Q3 2024.
Categories Annaly Capital Management, Artificial Intelligence, Earnings, LendingLife, Mortgage, Mortgage Servicing, Mortgage servicing rights, Origination, Rocket Mortgage

Bill Pulte to be considered for HUD secretary, report claims

November 12, 2024 by bp56691
A New York Post report claims that philanthropist Bill Pulte is under consideration for the role of HUD secretary.
Categories Donald Trump, HUD, Mortgage, Politics, Regulatory

Veterans have down payment assistance options of up to $117K

November 12, 2024 by bp56691
Down Payment Resource highlighted 49 of the 2,400-plus assistance programs that offer up to $117,000 specifically for veterans.
Categories Department of Veterans Affairs, Down Payment Assistance, Mortgage, Origination, Veterans
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