Origination

U.S. Bancorp previously disclosed potential claims tied to the probe and “cooperated fully with the DOJ,” the company said.

As home prices rise and municipalities scrounge for revenue, rising property taxes make it harder for loan applicants to meet regulatory debt-to-income ratio limits and increase default risk on existing mortgages.

Loan officers have traditionally been on an island with borrowers, with little management involvement in an originator’s communications with clients. Increasingly, lenders need to think about systems and/or protocols to ensure that such communications are handled properly.

The number of contracts to purchase previously owned homes jumped in May by the most in more than four years, a sign the residential-real estate market is rebounding after a slow start to the year.

Private mortgage insurers will be required to have master policies that meet new guidelines in place by Oct. 1, according to announcements this week from Fannie Mae and Freddie Mac.

KB Home reported a profit for its fiscal second quarter as selling prices and orders increased.

Treasury Secretary Lew said he would direct senior staff to bring together MBS investors and issuers to develop guidelines to reassure both sides they won’t be saddled with unfair losses.

Unless the industry is content to be a boutique player with a hugely smaller pool of potential borrowers, it had better emulate the Fed and ease on down the road.

Mortgage rates fell for a second week, lowering borrowing costs as the housing recovery gets a second wind.

The apartment sector is still pretty strong. For single-family to challenge it, employment growth may need to strengthen, notwithstanding the burgeoning market for rental house securitizations and rebounding home prices.