Origination

The quartet of trade groups sent a letter to National Economic Council Direct Brian Deese seeking its support for an action many have been expecting since Pres. Biden's inauguration.

A couple squatted in their foreclosed home since 2009 and are only now being evicted, highlighting stubborn problems in the foreclosure process.

Lenders are eliminating what they consider to be riskier loans from their offerings, the Mortgage Bankers Association said.

Payments increase 5% in each of the first five years of the mortgage, with the unpaid interest from that period added to the principal.

National real estate company Redfin is looking for a new tenant to take over the Frisco, Texas office space that housed its now-shuttered mortgage division.

As revenues are bottoming out for this group of depositories, some are totally retreating from residential real estate finance, the head of Citizens Financial Group said at a conference.

After 90 years, it is time to examine whether the system is still fulfilling its intended mission to provide liquidity for its members to make mortgages.

Lenders are using third-party sources, which provide insights ranging from consumers' credit profile to social media messaging, to supplement information they collect.

But the shift to a purchase market means issues around employment and income verification should concern originators.

By offering financial education through local crisis centers and community groups — and following through with access to credit — many credit unions are building trust with people who had been wary of working with mainstream institutions.