Mortgage industry of the United States

MortgageHippo's Robust Digital Lending Platform Now Integrated with Fannie Mae's Desktop Underwriter

Retrieved on: 
Wednesday, October 24, 2018
Mortgage industry of the United States, Economy of the United States, Fannie Mae, Finance, Economy, Mortgage loan, Mortgage underwriting in the United States, Government policies and the subprime mortgage crisis

CHICAGO, Oct. 24, 2018 /PRNewswire/ --MortgageHippo, the leading borrower-centric digital lending platform, announced today its complete integration with Fannie Mae's Desktop Underwriter (DU) system.

Key Points: 
  • CHICAGO, Oct. 24, 2018 /PRNewswire/ --MortgageHippo, the leading borrower-centric digital lending platform, announced today its complete integration with Fannie Mae's Desktop Underwriter (DU) system.
  • Fannie Mae is a leader in the secondary mortgage market; helping lenders who provide housing finance for homebuyers and renters in the United States.
  • Its DU system provides lenders a comprehensive credit risk assessment that determines whether a loan meets Fannie Mae's eligibility requirements.
  • MortgageHippo's integration with Fannie Mae will allow lenders to use the MortgageHippo platform to submit applications directly to DU.

Redfin Breaks Down the Cost to Homebuyers of Mortgage Rate Hikes

Retrieved on: 
Tuesday, October 23, 2018
Loans, Mortgage loan, Redfin, Economy, United States housing bubble, Finance, Mortgage industry of the United States

Home prices in some of the hottest markets have been inching down over last few months.

Key Points: 
  • Home prices in some of the hottest markets have been inching down over last few months.
  • For those weighing whether to buy a home now before mortgage rates tick up further or wait for seasonal price declines, Redfin published the attached chart showing how purchasing power changes as mortgage rates rise, on several different monthly housing budgets.
  • For this table, Redfin used the relatively high monthly mortgage payment of $3,500, which is enough to purchase a home around the median price in many coastal markets.
  • The data show that even with a budget this high, your selection of homes for sale can be dramatically affected by rising rates.

The National Association of Mortgage Brokers Partners with Pendella to offer Virtual Healthcare Exchange Program for Mortgage Professionals

Retrieved on: 
Thursday, October 18, 2018
Economy, National Association of Mortgage Brokers, Finance, Money, Mortgage industry of the United States, Professional certification in finance, NAMB, Mortgage broker, Mortgage loan, Certified mortgage consultant

"Together, Pendella and NAMB worked hard to ensure the offerings available today contain the healthcare tools mortgage professionals demand, and we are hopeful NAMB members and non-members take advantage of this fantastic offering."

Key Points: 
  • "Together, Pendella and NAMB worked hard to ensure the offerings available today contain the healthcare tools mortgage professionals demand, and we are hopeful NAMB members and non-members take advantage of this fantastic offering."
  • Pendella is a team of seasoned professionals with decades of experience in employee benefits, human resources, benefit administration, and business insurance.
  • The National Association of Mortgage Brokers is the voice of the mortgage industry representing the interests of mortgage professionals and homebuyers since 1973.
  • NAMB provides mortgage professionals with education opportunities and offers rigorous certification programs to recognize members with the highest levels of professional knowledge and education.

2018 and 2019 Growth Outlooks Steady as Housing Falters

Retrieved on: 
Thursday, October 18, 2018
Fannie Mae, Mortgage industry of the United States, Economy of the United States, Economy, Financial crises, History by period, Presidency of George W. Bush

WASHINGTON, Oct. 18, 2018 /PRNewswire/ --The Fannie Mae Economic and Strategic Research Group maintained its full-year 2018 and 2019 economic growth forecasts of 3.0 percent and 2.3 percent, respectively, despite expectations of slightly stronger third quarter growth than the prior forecast, according to its October 2018 Economic and Housing Outlook .

Key Points: 
  • WASHINGTON, Oct. 18, 2018 /PRNewswire/ --The Fannie Mae Economic and Strategic Research Group maintained its full-year 2018 and 2019 economic growth forecasts of 3.0 percent and 2.3 percent, respectively, despite expectations of slightly stronger third quarter growth than the prior forecast, according to its October 2018 Economic and Housing Outlook .
  • Factors that likely weighed on third quarter growth include a quarter-over-quarter deceleration in consumer spending and business investment growth, as well as trade, which switched from a contributor to growth to a detractor.
  • Our expectations for housing have become more pessimistic: Rising interest rates and declining housing sentiment from both consumers and lenders led us to lower our home sales forecast over the duration of 2018 and through 2019.
  • We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk.

MAXEX Launches Private Market Exchange for Trading Residential Mortgage Loans

Retrieved on: 
Tuesday, October 16, 2018
Mortgage industry of the United States, United States housing bubble, Finance, Loans, Mortgage loan, Secondary mortgage market, Mortgage-backed security, Money, Economy, Bank of America Home Loans

ATLANTA, Oct. 16, 2018 /PRNewswire/ -- MAXEX , LLC, a residential mortgage loan exchange provider, today announced the public launch of its digital platform and market exchange for buying, selling and settling mortgage loans through a single counterparty.

Key Points: 
  • ATLANTA, Oct. 16, 2018 /PRNewswire/ -- MAXEX , LLC, a residential mortgage loan exchange provider, today announced the public launch of its digital platform and market exchange for buying, selling and settling mortgage loans through a single counterparty.
  • "With over $15 trillion loans outstanding1 and $1.7 trillion per year in new originations, the U.S. mortgage market is the second largest debt market in the world, behind only the U.S. Treasury market, and yet mortgage loans have never been successfully put on a centralized exchange," said Tom Pearce, CEO and Chairman of MAXEX.
  • MAXEX, LLC , a residential mortgage loan trading platform and exchange company, reinvents the secondary mortgage market by eliminating the inefficiencies, fragmentation and limited market access that has traditionally hampered it.
  • Based in Atlanta, Georgia, MAXEX is run by a team of seasoned executives with extensive capital markets and secondary mortgage market expertise.

Rising Interest Rates Send Mortgage Payments Climbing Twice as Fast as Home Values

Retrieved on: 
Tuesday, October 16, 2018
Economy, Money, Finance, Loans, Mortgage loan, United States housing bubble, Mortgage industry of the United States, Mortgage, United States housing market correction, Causes of the United States housing bubble

Monthly mortgage payments for the typical home are 15.4 percent higher than they were in August 2017.

Key Points: 
  • Monthly mortgage payments for the typical home are 15.4 percent higher than they were in August 2017.
  • For someone buying the median U.S. home, their monthly mortgage payments are $118 higher, or $1,416 each year.
  • These higher mortgage payments reflect the combination of increased home values as well as the higher interest rates for buyers.
  • Buyers in San Jose, who also face the highest median home values, will see the biggest impact on their monthly mortgage costs from rising rates.

Fannie Mae Offers Certainty To Lenders That Use LoanBeam Technology

Retrieved on: 
Monday, October 15, 2018
Mortgage industry of the United States, Fannie Mae, Economy of the United States, Mortgage loan, Finance, Economy

DALLAS and WASHINGTON, Oct. 15, 2018 /PRNewswire/ --Today, Fannie Mae and LoanBeam announced an innovative enhancement allowing mortgage lenders to enjoy a consistent and reliable process for calculating income for self-employed borrowers.

Key Points: 
  • DALLAS and WASHINGTON, Oct. 15, 2018 /PRNewswire/ --Today, Fannie Mae and LoanBeam announced an innovative enhancement allowing mortgage lenders to enjoy a consistent and reliable process for calculating income for self-employed borrowers.
  • By year-end, LoanBeam customers will be able to use LoanBeam's FNMA SEI 1084 workbook to simplify the self-employment income calculation process and enjoy enhanced certainty knowing the calculation aligns with the Fannie Mae Selling Guide.
  • "LoanBeam is excited to work with Fannie Mae on this solution," said Kirk Donaldson, LoanBeam's Chief Executive Officer.
  • "We are proud that Fannie Mae committed to aligning the FNMA SEI 1084 workbook to the Selling Guide.

Freddie Mac Leverages LoanBeam to Offer Lenders Easier Way to Calculate Self-Employed Borrower Income

Retrieved on: 
Monday, October 15, 2018
Mortgage industry of the United States, Economy, Finance, Money, Loans, United States housing bubble, Mortgage loan, Mortgage underwriting in the United States

DALLAS, Oct. 15, 2018 /PRNewswire/ -- LoanBeam, the leader in automated income extraction, calculation, and verification, announced today that it is integrated with Freddie Mac Loan Product Advisor.

Key Points: 
  • DALLAS, Oct. 15, 2018 /PRNewswire/ -- LoanBeam, the leader in automated income extraction, calculation, and verification, announced today that it is integrated with Freddie Mac Loan Product Advisor.
  • The integration allows consumer mortgage lenders to use LoanBeam's income verification and calculation technology alongside Loan Product Advisorto verify income calculations for self-employed borrowers.
  • The arrangement between LoanBeam and Freddie Mac is a historical milestone in the digital mortgage movement.
  • Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.

Mortgage Translations Clearinghouse Launched to Help Borrowers with English Language Barriers

Retrieved on: 
Monday, October 15, 2018
Mortgage industry of the United States, Economy of the United States, Economy, Finance, Federal Housing Finance Agency, Fannie Mae, Freddie Mac, Mortgage loan

The glossary is expected to be particularly helpful in standardizing translations across the mortgage industry.

Key Points: 
  • The glossary is expected to be particularly helpful in standardizing translations across the mortgage industry.
  • "FHFA is proud to collaborate with Freddie Mac and Fannie Mae and so many others on this important initiative to help address language barriers that impede access to mortgage credit," said Janell Byrd-Chichester, chief of staff at FHFA.
  • "The Mortgage Translations clearinghouse is one part of a Language Access Multi-Year Plan and includes a number of meaningful resources to help mortgage industry professionals reach a broader range of borrowers."
  • "This online resource will educate, engage and better assist LEP borrowers when shopping for a mortgage."

Envestnet | Yodlee Partners with Freddie Mac to Deliver Industry-Leading Automated Income and Asset Assessment Solution

Retrieved on: 
Monday, October 15, 2018
Finance, Economy, Money, Envestnet, Mortgage industry of the United States, Yodlee, Loans, Freddie Mac

REDWOOD CITY, Calif., Oct. 15, 2018 /PRNewswire/ -- Envestnet | Yodlee (NYSE: ENV), a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services, today announced its Envestnet | Yodlee Risk Insight Solutions will be integrated with Freddie Mac automated income and asset assessment capabilities.

Key Points: 
  • REDWOOD CITY, Calif., Oct. 15, 2018 /PRNewswire/ -- Envestnet | Yodlee (NYSE: ENV), a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services, today announced its Envestnet | Yodlee Risk Insight Solutions will be integrated with Freddie Mac automated income and asset assessment capabilities.
  • Freddie Mac will leverage Envestnet | Yodlee's Risk Insight Solutions to help lenders improve the borrower experience, loan pull through, operational efficiencies and per loan profit margins.
  • The automated income and asset capabilities are available in Loan Product Advisor, Freddie Mac's automated underwriting system.
  • "Our solutions provide comprehensive visibility into assets, income, non-credit payment patterns, and transactional detail," stated Mike Burger, VP of Product Management, Envestnet | Yodlee.