“In 2015, HUD set a requirement for some HECM borrowers to maintain a Life Expectancy Set Aside to pay for future property taxes, insurance premiums, and flood insurance on behalf of the borrower,” HUD explained in its announcement. “Our objective is to determine if HUD’s HECM Life Expectancy Set Aside calculations are meeting program goals.”
Fueling this moment is a persistently high interest rate environment, which has increased the value of mortgage servicing rights (MSRs) — the asset outsourced to subservicers — due to slower prepayment speeds. For subservicers, managing loans can generate stable income through fees, and when agreements allow and align with their strategy, it opens doors for
The national PAPI decreased 0.6% from March to a reading of 163.0 in April. Median earnings were up 4.8% compared to one year ago, and while payments decreased 3.1%, the significant earnings growth means that the PAPI is down 8.4% on an annual basis. For borrowers applying for lower-payment mortgages (the 25th percentile), the national
Ike Suri – CEO of FundingShield NEWPORT BEACH, Calif., May 29, 2025–(BUSINESS WIRE)–In a major step toward protecting the integrity of the U.S. housing finance system, Fannie Mae CEO Priscilla Almodovar, FHFA Director Bill Pulte, and Palantir Technologies CEO Alex Karp have joined forces in a coordinated initiative to combat mortgage fraud across the homebuying
The anticipated impact of tariffs pushed consumers toward big-ticket items in April, but overall borrowing levels also show them becoming more discerning in light of political developments, according to Vantagescore. Researchers noted earlier this year the likelihood of a bump in certain types of purchases before the implementation of various tariff measures proposed by President
Fannie Mae, the government-sponsored enterprise overseen by the Federal Housing Finance Agency, is enlisting data analytics giant Palantir in a new partnership aimed at cracking down on mortgage fraud. Under the agreement, Palantir’s technology will be deployed to uncover fraud in mortgage packages before they reach Fannie Mae. Priscilla Almodovar, president and chief executive officer
Mortgage applications declined for the week ending May 23, 2025, as interest rates climbed to their highest level since January, the Mortgage Bankers Association (MBA) reported. MBA’s latest Weekly Mortgage Applications Survey showed overall application volume falling 1.2% on a seasonally adjusted basis compared to the previous week. Refinance activity took the brunt of the
Rate Amy Dolan, Rate Amy Dolan, Rate PHILADELPHIA, May 28, 2025 (GLOBE NEWSWIRE) — Rate, a leader in fintech mortgage solutions, announced the addition of Amy Dolan as a new loan officer serving the greater Philadelphia area. With more than two decades of mortgage experience, Dolan brings deep knowledge of loan origination and underwriting to
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 6.98% from 6.92% Applications to refinance a home loan fell 7% for the week. Mortgage applications to purchase a home were 2% higher last week than the previous week. Mortgage rates rose for the third straight week last week to
Average mortgage rates ticked up again Wednesday, adding pressure to an already strained housing market. According to Zillow, the national average for a 30-year fixed-rate mortgage climbed to 7.05%, up from 7.03% the day before. That’s still slightly down from 7.08% last week.The 15-year fixed rate held steady at 6.09%, while the 5-year ARM sits