HousingWireHousingWire Fannie Mae on Wednesday announced that its next version of the Desktop Underwriter (DU) software platform will be available for users on Jan. 11. The platform will feature “enhanced” risk assessment by incorporating new data points, including updated market conditions and loan performance data in its assessment functionality. Fannie…
Continue reading →HousingWireHousingWire Chicago-based multichannel mortgage lender Rate, formerly known as Guaranteed Rate, has announced a shakeup in its reverse mortgage division’s leadership by appointing two longtime industry veterans to lead the company’s efforts with older borrowers. Jesse Allen, most recently of OneTrust Home Loans and formerly of American Advisors Group (AAG),…
Continue reading →HousingWireHousingWire While many older homeowners own their properties free and clear of a mortgage payment, this is not a feasible reality for many seniors. In fact, more than 10.5 million Americans at or over the age of 65 still pay into a forward mortgage loan, according to a study conducted…
Continue reading →HousingWireHousingWire Executives at mortgage lenders anticipate a minimum 20% increase in credit reporting costs in 2025 compared to 2024. And the soaring costs will hit as lenders try to dig out from multiple years of financial losses and mass layoffs. In early November, Fair Isaac Corp. (FICO), the company behind…
Continue reading →HousingWireHousingWire The Federal Housing Administration (FHA) on Wednesday posted a proposed Mortgagee Letter (ML) that would add flexibility for people receiving rental income from “boarders” who pay for space in an existing dwelling when considering them for an FHA-insured mortgage. Borrowers receiving rental income from “boarders,” a term referring to…
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