Origination

Mortgage applications fell for the fifth time in the past six weeks, led by a drop in purchases even as borrowing costs retreated.

FormFree Holdings, a mortgage technology vendor in Athens, Ga., has appointed John Sheppard, a former Coca-Cola International executive, to be its president and chief operating officer.

Digital shifts are rapidly redefining customer preferences and expectations.

Lenders hope to earn bigger profits by originating loans that fall outside the qualified mortgage guidelines, for which they can charge borrowers significantly higher interest rates, but legal risks remain.

New View Mortgage settles with New York Attorney General Eric Schneiderman for $12,500.

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.