Origination

Though the bulk of the ambitious Housing New York plan is intended to build or rehabilitate rentals, there are several homeownership components as well.

The House approved a bill Monday evening to modify the calculation of certain "points and fees" under the Consumer Financial Protection Bureau’s qualified mortgage rule.

By obtaining a third-party opinion that provides a reasoned analysis supporting borrowers' ability to repay, a lender places itself in a substantially stronger position with respect to subsequent ATR claims.

Citigroup, one of three mortgage lenders sued last year by Los Angeles for allegedly targeting minorities with "predatory" loans, lost its first attempt to dismiss the claims.

The housing market is unseasonably weak due to consumers' worries about an economic slowdown and a decline in overall household income, according to a Fannie Mae survey.

Lenders are seeking fixes to a proposal by the Consumer Financial Protection Bureau that would allow institutions to repay points and fees that inadvertently exceeded the "qualified mortgage" rule.

The reduction in mortgage demand has some credit unions reaching down to slightly lower credit scores.

The Legg Mason unit plans to buy mortgages made to self-employed borrowers who may not have the documentation for qualified mortgages as well as interest-only loan.

Economic growth will rebound in the second quarter, averaging 3.1% over the next six quarters, but the housing market may not be as strong due to constraints on lending, according to bank economists.

Small lenders have slashed their payrolls by 9,000 workers this year.