Origination

The various bank and wire fraud charges in a federal indictment include conspiracy to defraud Quicken Loans (now Rocket Mortgage) for $1.3 million.

The financial services technology provider will leverage multiple data sources to verify borrower salaries at a “flip of a switch.”

A lack of awareness about assistance programs and apprehension hold back many consumers who could otherwise afford to buy a home, according to a new survey.

Gain on sale has dipped 130 basis points per loan since the third quarter last year, but over the same period, per loan expense is up by $1,216.

Taking a consistent, equitable and borrower-friendly approach could go a long way toward compliance, but mortgage companies and attorneys expect the devil will be in the details.

Listing times, price appreciation and inventory of for-sale homes all made incremental gains in favor of buyers, according to Zillow

CEO Michael DeVito told attendees at the Mortgage Bankers Association’s annual convention in San Diego that the move is among the types of “cash-flow underwriting” updates the government-sponsored enterprise is considering.

While September's single-family starts were unchanged from the prior month, multifamily activity fell 5%, according to government data.

The company blamed its decision to stop new acquisitions for the rest of the year on the labor shortages roiling the U.S. economy.

After permitting remote appraisals on an interim basis during the pandemic, Fannie Mae and Freddie Mac will accept them outright starting in early 2022, the acting head of the Federal Housing Finance Agency said.