Lalita Clozel

Executives at small banks and credit unions told the Senate Banking Committee about horror stories of technical glitches, vendor delays and overworked appraisers, while expressing an interest in having more time to comply with new mortgage rules.

Despite a slight uptick month-to-month, delinquency rates are down year-to-year.

Residential mortgage-backed securities servicers are improving their processes despite generally adverse market conditions, Fitch Ratings found.

Mortgage rates fell this week as investors acted on Federal Reserve Gov. Daniel Tarullo's doubts on an interest rate increase occurring before the end of the year.

Mortgage default rates decreased in September, pushing the composite rate down seven basis points to 0.89%, according to the S&P/Experian Consumer Credit Default Indices.

Citizens Bank in Providence, R.I., has appointed a former mortgage insurance executive to head its mortgage division.

Wolters Kluwer Financial Services has released a new tool to help lenders navigate updated reporting requirements on mortgage loans announced by the Consumer Financial Protection Bureau last week.

Arch Mortgage Insurance Co. plans to launch a new risk-based pricing program in the fourth quarter.

Xome, a Nationstar Mortgage Holdings effort to automate the home-buying process, has launched a notary mobile app.

Single-family home market values nationwide are expected to rise 3.6% in the coming year, according to Veros Real Estate Solutions, which said this is one of the best forecasts in almost two years.

The issuance of U.S. prime jumbo residential mortgage-backed securities has already surpassed the 2014 total, according to Fitch Ratings.

Roostify has closed a Series A investment round led by Texas-based financial services company USAA, the San Francisco-based automated mortgage transaction platform company announced Thursday.

Average fixed mortgage rates perked up the week ending Oct. 15, but remained under the 4% level for the 12th consecutive week.

PNC Mortgage's chief executive and president Joseph C. Guyaux will retire in the spring of 2016, the Pittsburgh-based company announced Thursday. He will be replaced by treasurer and chief investment officer E. William Parsley III.

LendingTree already offers a Yelp-like community where consumers can rate loan officers. Now it has created a question-and-answer forum within its loan officer directory platform.

The nonprofit behind McGruff the Crime Dog has designated mortgage fraudsters as its next target.

Bank mortgage servicers suffered bigger loan losses in three high foreclosure states than their nonbank counterparts, a Moody's Investors Service report suggests.

Homeowners continue to give their properties a higher valuation than appraisers would, according to Quicken Loans.

Fannie Mae and Freddie Mac announced this week a revised selling representation and warranty framework at the direction of their regulator, the Federal Housing Finance Agency.

In Bakersfield, Calif., a teacher on an average salary can afford 86% of the homes on the market. In Salt Lake City, that number drops down to only 26%.