Origination

Maine Savings Federal Credit Union in Hampden has introduced a program to give homebuyers up to $15,000 in down payment and closing costs.

Independent mortgage banks saw production profits slip during the fourth quarter, a result in part of the implementation of the TILA-RESPA Integrated Disclosures, according to the Mortgage Bankers Association.

Advanced technology can certainly provide process improvements, but those will reap results only if employed alongside industry fundamentals.

Fixed-rate mortgage rates rose for the third straight week, in part due to higher inflation, Freddie Mac reported.

If the Federal Reserve raises short-term rates in June, market volatility will spur investors to buy long-term bonds, driving down the 30-year mortgage rate to around 3%, consultant Barry Habib argues.

It took an average of 46 days to close a residential mortgage loan in February, the shortest closing time since May, according to Ellie Mae.

W.J. Bradley Mortgage Capital shut its doors after it was stuck with nonagency loans with TILA/RESPA integrated disclosure issues that it couldn't sell.

While the $1.9 billion of bonds are not guaranteed by the government, most of the underlying loans could have been sold to Fannie and Freddie, and the transaction accomplishes the same thing as the GSEs' risk-transfer deals.

The Department of Housing and Urban Development's proposed addition to the Housing Choice Voucher Program represents a significant deviation from its stated mission of promoting homeownership.

The downturn in the refinance market led to a decline in total mortgage applications last week, according to the Mortgage Bankers Association.