Banking

Carrington Mortgage Services has created a nondelegated correspondent channel, looking to build on relationships it has with originators that currently broker loans to the company.

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.

Amazon has yet to announce the winning city for its second headquarters, but investors in JBG Smith Properties seem pretty convinced that northern Virginia is going to take the cake.

A low-rated segment of an index that most closely tracks the performance of U.S. mall mortgage loans saw its biggest decline in more than a year in October.

Mortgage borrower credit scores hit their low points more than five months after making a home purchase, but lender reporting cycles also cause these results to vary, according to LendingTree.

Bankers complain that the quasi-governmental system's new program designed to make more residential loans in four states goes well beyond its original mission.

A deal between TD Bank and a Vermont nonprofit is just one example of how banks are getting creative in addressing affordable housing needs while reaping financial and regulatory benefits.

QRL Financial Services, the mortgage outsourcing division of First Federal Bank of Florida, is the latest investor to seek out better secondary market execution by purchasing electronic notes from correspondents.

City National Bank said the foundation will buy houses and hold onto them until the buyer lines up financing.

Despite recriminations about how the crisis and ensuing regulations have tightened loan access, an actual assessment of mortgage credit availability finds the situation is more complicated.

A new credit score that includes consumers' cash flow alongside their credit score is winning praise for its potential to help expand access to credit, but some worry it gives the credit bureaus even more data that could be compromised.