Freddie Mac is announcing a couple of enhancements to its Loan Advisor underwriting tool. The additional capabilities will allow lenders to automate the assessment of borrower income and assets to reduce documentation which the company says will significantly speed-up the approval process. There are several components to the advances which the company unveiled at the Mortgage Bankers Associations Annual Convention and Expo in Washington which began on Sunday. Automated collateral evaluation combined with collateral rep and warranty relief Automated assessments for borrowers without credit scores Automated asset and income validation. The automated collateral evaluation has been available in some form previously and with this announcement appears to be extended to condominium units . It is unclear

October 15, 2018 Download our Mobile App: Download our Mobile App: Housing News Freddie Mac Announces More "Big Data" Tools Freddie Mac is announcing a couple of enhancements to its Loan Advisor underwriting tool. The additional capabilities will allow lenders to automate the assessment of borrower income and assets to reduce documentation which the company says will sign... (read more) Rob Chrisman Digital Products, New Book for LO's; Big Bank Mortgage Earnings What’s new here at the MBA’s conference in Washington DC? Plenty of secretive M&A closed-door meetings, continued talk that Ginnie is carefully eying non-bank approved Ginnie issuer’s financial situations, conjecture of MI reps&... (read more) Mortgage Rate Watch Mortgage Rates Stay Steady, Waiting For a Sign Mortgage rates were sideways to slightly higher today, prolonging a 3-day trend of exceptionally light volatility. The 5 days before that (beginning on Wednesday, October 3rd) were completely different, with a huge move higher at first followed by a ... (read more) MBS Commentary MBS Live Week Ahead: Did Bonds Get a Pass From Stocks Last Week? Before last week's stock rout, bonds were stuck in a rut.  For four straight sessions, they hit the highest intraday yields since 2011.  Even after the 3rd biggest stock sell-off since the financial crisis, Treasuries were reluctant to ra... (read more) Mortgage Rate Watch Mortgage Rates Hold Steady as Stocks Stabilize Mortgage rates held relatively steady today, finally leveling off after two solid days of improvement driven by the week's big stock market sell-off. Stocks and rates don't always move in the same direction at the same time, but when stocks make a bi... (read more) MBS Commentary MBS Live Recap: Uneventful Conclusion to a Crazy Week Referring to the week of bond trading as " crazy " is a bit of a stretch.  If we bring stocks into the mix, or if we go back to last Wednesday, it's been a crazy 7 business days (bonds were closed on Monday).   As you're well aware, ... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.02% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.02% +0.01 0.00 15 Yr. Fixed 6.37% 0.00 0.00 30 Yr. FHA 6.30% -0.02 0.00 30 Yr. Jumbo 7.20% 0.00 0.00 7/6 SOFR ARM 6.99% +0.04 0.00 30 Yr. VA 6.32% -0.02 0.00 Updates Daily - Last Update: 11/14 15 Yr. Fixed Rate 6.37% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 6.78% -0.01 0.00 15 Yr. Fixed 5.99% -0.01 0.00 Updates Weekly - Last Update: 11/14 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.73% +0.21 0.69 15 Yr. Fixed 6.27% +0.29 0.77 30 Yr. Jumbo 6.77% +0.04 0.49 Updates Weekly - Last Update: 10/30 MBS / Treasuries UMBS 30YR 5.5 98.85 -0.08 Price / Yield Change MBS UMBS 5.5 98.84 -0.09 UMBS 6.0 100.50 -0.07 GNMA 5.5 99.47 -0.09 GNMA 6.0 100.64 -0.07 Pricing as of: 11/15 12:04AM EST 10 Year US Treasury 4.4606 +0.0218 Price / Yield Change US Treasury 2 YR Treasury 4.352 +0.002 5 YR Treasury 4.341 +0.015 7 YR Treasury 4.404 +0.017 10 YR Treasury 4.461 +0.022 30 YR Treasury 4.614 +0.031 Pricing as of: 11/15 12:04AM EST Latest Video Uncertainty on how the housing market will react to rates above 5 percent Cramer: Fed numbers are only going to get slower Business inventories up 0.5% in August Around the Web consumerfinancemonitor.com Regulation by Enforcement is Dead Bloomberg Hurricanes Blamed for Biggest Cuts to S&P 500 Earnings Estimates CNBC America's budget deficit expanded by $113 billion as spending surged Calculated Risk Blog House Prices and Inventory NAHB Eye on Housing Single-Family Residential Permits Decline in Northeast Reuters U.S. retail sales increase less than expected in September consumerfinancemonitor.com CFPB proposes to issue final rule on annual civil penalty adjustments Bloomberg Condo Flippers Aren't the Vancouver and Toronto Housing Culprits Redfin 20% of Recent Homebuyers Made an Offer Sight-Unseen, Down from 35% Late Last Year Reuters China central bank chief says plenty of room for monetary adjustments amid trade row Bloomberg Bond Traders Eye Fedspeak for Sign of Doubt After Stocks Swings Calculated Risk Blog Q3 GDP Forecasts Freddie Mac A New Solution to an Old Problem: Making it Easier for the Self-Employed to Get a Mortgage

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