UAD 3.6, Reverse, AI, Co-Issue Products; Freddie Clocks in at $3.8 Billion; Morgan Stanley Did What in Mortgages?
· mortgagenewsdaily.com
I was recently doing some bike riding in the Napa Valley and spent some time speaking with a wine maker. She told me that because of the increase in temperatures, growers are buying land to the south and planting vineyards there, nearer the San Francisco Bay where it is cooler. Their livelihood is at stake “up Valley.” In addition, this year’s harvest is a full month earlier than historical harvests as the grapes ripened quickly. Other fruit growers are seeing the same thing: products are ripening earlier in the year. One state over, Phoenix’s high temperatures this weekend will be around 115 F. Lenders and servicers, who have money at stake as well, are acutely aware of climate-related events and their impact on borrowers. The climate is changing, but human nature is stubborn: “Morgan Stanley Bankers Were Pressured to Approve Mortgages for Wealthy Clients” … Mortgage employees faced backlash when questioning or rejecting loans but the bank says it hasn’t ‘compromised its underwriting standards.’ Today’s The Big Picture at noon PT features Jennifer McGuinness-Lubbert, CEO of Pivot Financial, for a conversation on leadership, market strategy, and the forces shaping today's mortgage industry. (Today’s podcast can be found here. This week’s ‘casts are sponsored by Experian Verify, providing mortgage lenders with automated income, employment, identity, and asset verification solutions that help accelerate underwriting while reducing fraud risk and manual documentation. Today’s has an interview with ALTA’s Chris Morton on first-quarter title insurance premiums, and the industry's preventative role in resolving title defects before closing as a form of reducing long-term underwriting risk.)
UAD 3.6, Reverse, AI, Co-Issue Products; Freddie Clocks in at $3.8 Billion; Morgan Stanley Did What in Mortgages?
I was recently doing some bike riding in the ...