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As part of an upgrade to its Desktop Underwriter (DU) that will be issued over the December 8 weekend, Fannie Mae says there will be some adjustments to the credit risk assessment functions. The company says the changes are part of prudent risk management and are meant to account for 2018 market conditions including rising interest rates, waning refinances, and higher loan-to-value (LTV) lending. The announcement notes that the new version, DU 10.3, is intended to help the company's customers serve their borrowers in a manner that is reflective of current market realities. Fannie may says the new version will continue to analyze each loan casefile using variables that have shown to be predictive of mortgage delinquency. It will also, at a time when lending volume is expected to decline, address
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Housing News
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As part of an upgrade to its Desktop Underwriter (DU) that will be issued over the December 8 weekend, Fannie Mae says there will be some adjustments to the credit risk assessment functions. The company says the changes are part of prudent risk manag... (read more) |
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Mortgage Rate Watch
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Mortgage rates were unchanged yet again , making this the third day in a row at essentially the same levels. Strikingly, underlying market movement was quite different compared to yesterday. It's striking because underlying market movement drives cha... (read more) |
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Housing News
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The National Association of Realtors® (NAR) just issued the first positive pending home sales report in months . Pending sales, a leading indicator for existing home sales, rose slightly in a month which saw declining sales of existing homes and ... (read more) |
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Rob Chrisman
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The IRS ruled on the tax treatment of business meals? True .) Congressional Bank buying McClean Mortgage? (Rumor.) A loan officer at Umpqua stealing a processor's lunch from the lunchroom refrigerator? (Still researching.) Wall Street firms increasin... (read more) |
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MBS Commentary
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With slightly weaker levels overnight, the rest of the day becomes a fight to maintain the gains seen so far this week. The easiest and most basic observation about those gains is that they've come courtesy of much weaker stock prices. In... (read more) |
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MBS Commentary
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Yesterday was ' neat ' for a while--at least in the morning hours when massive stock losses helped bonds achieve their best levels in weeks. Then stocks bounced in the afternoon and most of the bond market gains were erased.
Today was a carb... (read more) |
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