Mortgage performance continues to improve in the third quarter, as delinquencies declined across all stages in July, a new industry report found. Processing Content The national delinquency rate dropped 16 basis points to 3.39% last month, Intercontinental Exchange’s latest first look report found. The rate was still 12 basis points above last year but 46 […]
July delinquencies drop as ICE notes FHA performance pivot Read More »
Carrington Mortgage Services is expanding the underwriting criteria for its Flexible Advantage non-qualified mortgage offerings, including lower the qualifying credit score for certain alternative documentation borrowers. Processing Content “As the non-QM market continues to grow, we continue to position ourselves, with expanded guidelines and competitive pricing, to capture more market share and add liquidity to
Carrington expands non-QM guidelines, citing sector growth Read More »
Key takeaway: Federal agencies rolled back Biden-era guidance Monday that encouraged creditors to offer special purpose credit programs to underserved communities. Expert quote: “Federal law does not authorize any generalized remedial ‘equity’ initiatives absent specific cases of unlawful discrimination, and creditors should not rely upon previous guidance which may have suggested otherwise.” — Federal Register
Federal agencies reverse Biden-era credit guidance Read More »