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What happens when borrowers have more control of the lending process?

Housing Wire

Yet borrowers have had limited agency in the lending process to date. FormFree, the ATP fintech led by HousingWire Tech Trendsetter Brent Chandler , is launching a blockchain-based exchange for consumers to take control of the lending process. The smart contract presents the borrower’s lending request to the exchange.

Lending 396
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Trade groups express concern to FHFA over historic credit data

Housing Wire

Announced in February , the agency had originally planned to publish the dataset next year, but it chose instead to advance the timeline to third-quarter 2024 in order to “better support market participants with this transition” to a new bi-merge credit reporting requirement that is also being challenged by trade groups and lawmakers.

Legal 343
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Interfirst, the phoenix of mortgage, lays off hundreds

Housing Wire

By July 2013, things were going so well that Godin and his wife purchased a lakefront mansion in Winnetka, Illinois, for nearly $13 million , a record for the posh Chicago suburb. The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017.

Mortgage 340
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OK to average adjusted comps on appraisals?

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on Non-lender appraisals, dealing with lender hassles, real estate market, unusual homes, mortgage origination stats, etc. = $36M Beachfront Beauty on Maui Hawaii Excerpts: What exactly makes this oceanside manse on Maui so desirable? Investor purchases of U.S.

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Mortgage credit availability tightened in May

Housing Wire

A decline of the index, benchmarked to 100 in March 2012, indicates that lending standards are tightening while an increase suggests loosening credit. With this decline in availability, the MCAI is now at its lowest level since January 2013.” Of the two component indices of the conventional index, the Jumbo MCAI fell by 1.5%

Mortgage 340
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MBA economists: The overcapacity that still needs to be cut

Housing Wire

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. The monthly Employment Situation Summary news release based on the CES data is regarded as a key report in gauging the health of the overall job market. By comparison, we are forecasting total volume of about $2.3

Lending 382
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How to grow housing supply in 2021

Housing Wire

housing market was the single best outperforming economic sector globally during the COVID-19 pandemic in 2020. Demand right now is not an issue for both the existing and new home sales market. In 2013/2014, when the economic data was improving, mortgage rates rose. New Home Supply. Hard pass.

Inventory 543