Origination

Fannie Mae is warning mortgage lenders and servicers about possible fraud schemes in Los Angeles County involving "34 apparently fictitious employers being used on loan applications."

Mortgage applications decreased 2.9%, falling for the eighth consecutive week even as interest rates came down from their recent highs, according to the Mortgage Bankers Association.

The ability-to-repay standard is responsible for the reduction in loan application defects over the past four-plus years, according to First American Financial.

Marin's median home price spiked to $1.15 million in April, a 10% rise from the $1.045 million median price in April 2017.

Neighborhoods — specifically those closer to downtown, like southwest Detroit — have seen increased interest from buyers in recent years. And with the interest comes increased property values and sale prices.

To make its technology more relevant to the mortgage industry, Fannie Mae is taking a new approach to developing tools that engages lenders earlier in the process and makes lending more efficient.

The borrowers behind the $401.6 million COLT 2018-2 have weighted average liquid reserves of $426,633, or nearly twice the level of borrowers backing a deal completed in January.

Although mortgage default risk remains very low, it was the only category of consumer lending to experience increases both sequentially and year-to-year in VantageScore's latest update to its index.

In another sign that Palm Beach County finally has shaken off its long economic hangover, home prices hit another post-crash high in April.

Home prices in 20 U.S. cities climbed more than forecast in March, driven by rising demand and a lack of inventory, according to S&P CoreLogic Case-Shiller data.