Origination

Home Equity Conversion Mortgages have gotten a bad rap, but they're often a better alternative to home equity lines of credit for both borrowers and lenders.

The number of homes that are financially underwater decreased in the second quarter, as property values for the bottom third of the market saw faster rates of growth, according to Zillow.

Non-bank originators add 3,200 new employees in July.

Randolph Savings Bank in Massachusetts has agreed to buy First Eastern Bankshares in Andover, Mass.

Mortgage professional hiring and new job appointments for the week ending Sept. 4.

Two top Justice Department and CFPB officials said this week that they are seeing more instances of redlining and lenders steering minority borrowers into higher cost loans.

Wells Fargo has named Michael DeVito head of mortgage production, making him responsible for its retail and correspondent lending divisions.

The Hispanic Federation and New York Urban League have partnered to encourage homeownership among low-income and minority groups and to provide financial education.

Mortgage credit availability loosened in August as lenders have more jumbo loan products and added loans for borrowers with less-sterling credit, according to the Mortgage Bankers Association.

Interest rates on fixed-rate mortgages rose this week as the stock market remained volatile, according to Freddie Mac.