Vendor & MI updates; FDIC's Banamex Civil Penalty; Moody's Admits Error

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Posted To: Pipeline Press

Underwriting is teamwork, and teamwork is the fuel that allows common people to achieve uncommon results, provided they don't mind you calling them "common people". MBA's July 10 th chart of the week highlights retail mortgage applications per underwriter with a ten-year trend in average monthly underwriter productivity for the retail production channel. For large lenders, generally in the top 25 nationwide, u/w productivity is 5 times lower than it was ten years ago , dropping to 33 applications per underwriter in 2014 from 165 applications per underwriter in 2005. Productivity for mid-sized lenders, originating an average $1.2 billion in 2014, has dropped to 37 applications per underwriter in 2014 from 135 in 2005. Let's take a look at what vendors, MI companies, and others have been up to...(read more)

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Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/07242015-subprime-ratings.aspx

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