U.S. housing markets are entering a more balanced phase: active listings are up sharply, but a rising number of pending sales are falling apart, signaling a disconnect between buyers and sellers amid continued affordability pressures. Active listings climbed to approximately 1.36 million in June, marking a double-digit increase from a year earlier and the highest level seen since late 2019.
The decades-old rivalry between credit scoring titans FICO and VantageScore has escalated dramatically, especially on the heels of a recent policy shift by the Federal Housing Finance Agency (FHFA). Mortgage lenders can now submit applications to Fannie Mae and Freddie Mac using either VantageScore 4.0 or the tried-and-tested Classic FICO model, triggering heated competition and scrutiny.
U.S. housing markets are undergoing a significant shift: inventory levels are climbing, and home sale cancellations are hitting historic highs, pointing to rising tension between buyers and sellers amid persistent affordability challenges. Active listings rose to 1.36 million in June, a 2.3% increase from May and a notable 17.2% jump compared to the same time last year.
The Federal Housing Finance Agency (FHFA) has sparked debate in the mortgage industry by directing Fannie Mae and Freddie Mac to explore whether cryptocurrency assets should be considered in loan underwriting. The potential move signals a significant shift in how digital assets might be evaluated in determining mortgage eligibility.
Shares of Fair Isaac Corp. (FICO), the company behind the widely used FICO credit score, fell sharply after a major shift in the credit scoring landscape. The drop came after Fannie Mae and Freddie Mac announced they would begin accepting the competing VantageScore 4.0 credit model, ending FICO's long-standing exclusivity in government-backed mortgage underwriting.
Have you begun to memorize and master the 20-30 ID and passwords needed to access all of the mortgage technology or did you decide to use one password for all accounts? Believe me, I know it is overwhelming when you have to remember so many different pieces of information to access different portals and websites to perform your job.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
Last week we began discussing the importance of understanding how to read a credit report. As stated last week, no doubt we can all agree that as processors we need to know how to read and interpret information on a credit report. So let’s begin the second part:
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
This week I’m looking through my originator eyes. I tend to think of myself more as a Mortgage Loan Advisor than a Loan Officer. As I have already mentioned, probably more than once, I never set out to be a loan originator and I am the first to admit that I am not a “salesman”. I do love this part of the process however and for one reason.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
Written By: Stacey Sprain
As an FHA originator, processor or underwriter, it’s likely that in the ongoing foreclosure market you’ll run across a HUD REO loan at some point. The purpose of this multi-part article is to provide you with some useful information to help in your endeavors.