Origination

The housing bubble and subsequent carnage in the market have wiped out nearly $9 trillion in home equity since the peak of values in 2006, according to a new report from Zillow Real Estate Markets.

The Department of Housing and Urban Development said it will launch a fair lending investigation into a practice identified by one consumer group as lenders refusing to offer FHA loans to borrowers with low credit scores.

Nearly three-quarters of senior citizens who have a reverse mortgage said they were satisfied with the product, with 43% declaring they had a maximum level of satisfaction, according to the results of a survey released by the National Reverse Mortgage Lenders Association.

Higher Treasury yields related to improvements in Europe’s debt situation ultimately translated into another rise in Freddie Mac’s average 30-year mortgage rate for borrowers in the most recent week, bringing it to a level half a percentage point above the record low set in mid-October.

A relatively small company started a little less than two years ago is aiming to grow aggressively while stressing technology-driven efficiencies and upfront disclosure to consumers.

There is much to be said for good corporate citizenship. The more companies that make clear and dedicated efforts to put their time and money into improving our world, the better. Who can argue against the benefits of programs to improve the environment, to support education and the arts, to develop and support programs for the needy, etc?

The residential lending arm of a Dallas bank agreed to pay $2 million to settle federal allegations that it discriminated against blacks, charging them higher interest rates than whites.

How bad is the real estate market in Florida? More than 30,000 mortgage industry professionals appear to be missing in action.

Mortgage application volume decreased by 0.9% over last week on a seasonally adjusted basis, as rising interest rates continue to affect refinancing activity, according to new figures released by the Mortgage Bankers Association. The previous week's data was adjusted for Thanksgiving Day.

A borrower who goes through a foreclosure must wait at least seven years before getting a new Fannie Mae loan, according to new underwriting guidelines that are being distributed along with an updated version of the GSE's Desktop Underwriter program.