Origination

Mortgage rates declined, remaining at a 16-month low as more affordable borrowing costs fuel an increase in refinancing.

Mortgage lenders will have 210 days to fix errors in their calculations of points and fees and reimburse borrowers for any overages under a final rule issued by the Consumer Financial Protection Bureau.

The Federal Reserve Board and Securities and Exchange Commission on Wednesday both signed off on an interagency rule requiring securitizers to hold 5% of the credit risk on loans sold to investors.

The nation's largest mortgage lender is the first to say it will distribute the new Closing Disclosure to consumers, but other lenders, especially smaller ones, may not follow along.

Cities in Texas and Washington in had the strongest housing markets in September, according to Pro Teck Valuation Services.

A significant number of millennials aspire to become homeowners within the next five years, according to a recent survey, despite income and student debt burdens.

Compliance costs are a wild card that is hurting profits.

Mortgage applications soared last week as a plunge in borrowing costs led to biggest gain in home refinancing since January 2012.

Although refinancings will be down 3% from 2014, this is still $50 billion more than MBA had anticipated.

The recent drop in interest rates has opened the door for lenders to refinance borrowers with high-cost Federal Housing Administration loans into conventional Fannie Mae and Freddie Mac loans.