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Fannie Mae launches another CRT offering

Housing Wire

Investors receive principal and interest payments on the CRT notes they purchase, but if credit losses exceed a predefined threshold per the security issued, then investors are responsible for absorbing the losses exceeding that mark.

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MBA seeks clarity on GSE investment property policies

Housing Wire

The MBA is also concerned about GSE compliance with the revised PSPA provision regarding Freddie and Fannie’s acquisition of loans that have certain characteristics: a combined loan-to-value ratio at origination above 90%, a borrower debt-to-income ratio above 45%, or a credit score below 680.

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When rates skyrocketed, mortgage servicing reset the board. The next battle is about to begin

Housing Wire

trillion unpaid principal balance (UPB). Middleman pointed to average loan-to-value ratios of 50%, average debt-to-income ratios in the low 40% range, and credit scores in the low 700s as indicators of an “extraordinary” credit. Cooper had become the largest U.S. The company is expected to reach a UPB of $1.5

Mortgages 458
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UWM is bullish on the resurgent private-label market

Housing Wire

Pontiac, Michigan-based United Wholesale Mortgage (UWM) capitalized on a booming private-label market in 2021 by sponsoring its inaugural securities transaction this past May, a prime jumbo deal involving 508 mortgages with an aggregate principal balance of $351.9 to 72% across the three deals in a market with fast-rising home prices.

Marketing 396
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Opinion: Regulators should focus on banks, not IMBs

Housing Wire

I think it comes down to a core principal: IMBs only do mortgages. Or look at this data on DTI (debt to income ratio). One might ask, why do IMBs do so much better here in advancing credit availability? Unlike banks, they don’t do auto loans, credit cards, student loans, business lending, lines of credit and more.

Banks 370
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Agency loan-repurchase strategy sparks pushback

Housing Wire

He added that loan defects often leading to repurchase requests include, among others, borrower income-related issues (i.e., debt-to-income ratios); appraisal issues; missing documentation; employment verification; and undisclosed liabilities — “people taking out a car loan the day before they close on their mortgage.”

Loans 397
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4 Reasons You May Have Been Denied Refinance

RIS Media

Those who could not get refinanced were declined for many of the same reasons, from a high debt-to-income ratio to poor or no credit history. High Debt-to-Income Ratio . Your debt-to-income ratio is the percentage of your monthly gross income used to pay off your debts.