Delivered to over 70,000+ industry professionals
each day, the Daily Newsletter is the definitive recap of the day's most
relevant mortgage and real estate news and data. View the latest Newsletter below.
View our most recent newsletter below, or use the date selector to view past newsletters.
Tried and true has won out over shiny and new, at least when it comes to GSE credit scoring. And at least for the moment. The Federal Housing Finance Agency (FHFA) announced on Tuesday that it has validated and reapproved the Classic FICO credit score model for use by Fannie Mae and Freddie Mac for assessing the creditworthiness of mortgage borrowers. The Agency said this would allow the GSEs "to continue supporting the mortgage market while assessing more modern credit score models that were submitted in response to the 2020 Joint Enterprise Credit Score Solicitation." That solicitation was issued jointly by the GSEs In February. They were seeking possible alternatives to the model which has, for years, been the only credit score they accepted. The major credit agencies, Equifax, TransUnion
Tried and true has won out over shiny and new, at least when it comes to GSE credit scoring. And at least for the moment. The Federal Housing Finance Agency (FHFA) announced on Tuesday that it has validated and reapproved the Classic FICO credit scor... (read more)
Strong Move in Bonds Helps Balance The Outlook
After a month of almost exclusive weakness, extreme volatility in early Nov, and the weakest day we've seen in a long time on Monday, bonds were definitely on th... (read more)
There was apparently a certain profile of home buyers before the pandemic struck and a different one after it began. The National Association of Realtors'® (NAR's) 2020 Profile of Home Buyers and Sellers, an annual report on demographics, prefere... (read more)
Mortgage rate movement had been very calm relatively resilient compared to the broader bond market. In other words, mortgages have been doing better than US Treasuries. The 10yr Treasury yield is frequently used as a bellwether for mortgage rate move... (read more)
Extremely serious delinquencies, those loans 150 days or more past due, reached historically high levels in August. Five months into the COVID-19 crisis, Corelogic said the rate of delinquencies among those loans spiked to 1.2 percent, the highest le... (read more)
Are the election results under control? Thank you to Hawai’i’s Joe G. who sent along this site where the odds of who the next president will be are posted; you can buy shares in your favorite! Is COVID under control? In some parts of the ... (read more)
Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.