ARMs

As the clock runs out on Libor, the American Financial Exchange created its own alternative to replace the much-used index.

The pool of 497 loans includes first-lien fixed- and adjustable-rate mortgages for single-family homes and multifamily properties, primarily underwritten to self-employed borrowers.

The Mortgage Bankers Association created a template for originators to notify new borrowers when their adjustable-rate mortgage switches to a different index once publication of the London interbank offered rate discontinues.

Sandler and his wife, Marion, built a small California thrift into a powerhouse before selling it to Wachovia prior to the housing collapse, but were heavily criticized for engaging in some of the same practices that caused the financial crisis.

Commercial and multifamily mortgage lenders need to figure out their plan for replacing the London interbank offered rate index potentially expiring at the end of 2021.

The development of a replacement index for the London interbank offered rate brought back memories for one secondary market participant of the technology disaster worries many had at the turn of the century.

Whether online or advertised on a sign, very few consumers will qualify for that incredible low-rate deal. Here's why.

When it comes to cars, tunnels and rockets, Elon Musk thinks big. The same is true for his household finances.

Mortgage application defect risk was at its highest level in four years because of higher interest rates as well as natural disasters during the latter part of 2018, according to First American.

Adjustable-rate mortgages for the second consecutive month hit a post-crisis high, due to strong demand for housing being constrained by a lack of supply, according to Ellie Mae.

Adjustable-rate mortgages in November had their highest share of closed loans since Ellie Mae started tracking this data in 2011 as rates for 30-year loans reached 5.15%.

Another adjustable-rate mortgage index is going away as the Federal Home Loan Bank of San Francisco will no longer publish the monthly Eleventh District Cost of Funds Index after January 2020.

Fannie Mae has priced more securities that support a transition away from the London interbank offered rate.

As mortgage rates recently hit their highest point in seven years, closed refinances fell back to their low point of 2018, according to Ellie Mae.

Providing borrowers with an incentive to create financial reserves after closing is a better tool to prevent mortgage loan defaults than measures taken at underwriting, a JPMorgan Chase Institute study declared.

As mortgage rates remained mostly tepid throughout the summer, closed refinances had their first month of growth in August, according to Ellie Mae.

A new study from Pentagon Federal Credit Union finds a sizable portion of consumers will be shopping for a mortgage within two years, but it also revealed some major misconceptions surrounding the process.

Purchase-loan share held steady month-to-month for the first time this year, even though it is still above year-ago levels in line with a seasonal decline, but growth remains in the forecast.

Fannie Mae has issued securities supporting the transition away from the London interbank offered rate; something that could become more pressing for lenders if adjustable-rate mortgages were to become more prevalent.

The number of nonbank lenders and servicers that did not comply with the California Residential Mortgage Lending Act Annual Report requirements grew this year, prompting a reprimand and warning of penalties from the commissioner of the state's Department of Business Oversight.