Banking

Subprime originations are climbing in multiple consumer loan categories, including mortgages, but the increase is much smaller in the home loan sector than it is in other markets, according to TransUnion.

The move allows the New York multifamily lender to make more loans without having to raise capital.

As interest rates rise, mortgage originators need to teach millennial homebuyers about the product options outside of conventional loans, Ellie Mae said.

Online personal lending pioneer Prosper is developing a home equity line of credit product that it will offer in partnership with banks. The embrace of traditional depositories marks a departure from fintech lenders that typically seek to disrupt and displace legacy institutions.

The bank recently notified an upstate New York man that he was wrongly denied a mortgage modification, and enclosed a $25,000 check. But details of what went wrong have been hard to come by.

The mortgage delinquency rate dipped to a 12-year low, but overvalued housing markets and eventual reversal in the unemployment rate present risk for future delinquencies, according to CoreLogic.

Mortgage delinquencies inched up, in part from natural disasters hindering homeowner performance, but a stronger economy is still keeping defaults low, according to the Mortgage Bankers Association.

The midterm elections virtually eliminate the chance that progress will be made on financial services legislation.

The focus since the 2016 election on easing rules, tax cuts and expanding access to credit is about to be turned on its head.

Mortgage industry executives claim sparse affordable housing supply is the most impactful hurdle for first-time homebuyers entering the market in 2019, but the majority don't think regulatory policy will help the cause.