Origination

As of now, Fannie Mae and Freddie Mac only consider the FICO credit scoring model when making mortgage purchase decisions.

Mortech, a Zillow Group business that offers technology solutions for mortgage bankers and secondary market teams, announced Tuesday that its product and pricing engine (PPE) and secondary marketing solutions are now integrated into Calyx’s Point and PointCentral (Point) loan origination software (LOS).

Although credit standards are easing, job markets are improving, and consumers continue to show the desire to own a home, actual homeownership remains at a low level across the nation.

Since the TILA-RESPA Integrated Disclosures (TRID) rule went into effect on October 3, 2015, the mortgage industry has been mostly quiet about its effects—that is until now.

Although the housing market is expected to see slower growth in 2016, the industry is expected to continue on the path to recovery as the market expands and more households are formed.

Housing in some metros over the last four years has recovered more quickly driven by substantial economic growth, while housing has been slow to recover in some metros based on sluggish economic growth.

Mike Weinbach, currently the CEO of Mortgage Servicing with JPMorgan Chase, has been named Chase’s new CEO of Mortgage Banking, the bank confirmed on Wednesday afternoon.

The Federal Housing Administration (FHA) revealed its loan limits for 2016, according to an announcement Wednesday. The FHA said that loan limits will increase in 188 counties from the 2015 limits, but all other counties will remain at their current level.

The housing industry has become so accustomed to believing that renting is a popular trend and option among the millennial generation. However, research shows that picture is distorted and younger consumers are not as big on renting as we believe they are.

America's most-talked about generation—millennials—are expected to impact the housing market heavily in 2016. As home prices in popular metros rise and affordability problems persist, this generation is expected to weigh other options in the near future.