Originations

To move quality control earlier into the origination process, lenders should rely on automated data checks

The closing rate for mortgage originations climbed to a three-year high in August, according to data released by Ellie Mae.

The U.S. Attorney General seeks to lift a cap on whistleblower incentives that encourage a practice increasingly used in mortgage-based claims even as another U.S. official presses for more lending.

The Consumer Financial Protection Bureau remains committed to working with the financial services industry to improve the mortgage closing experience for consumers through the use of technology, CFPB director Richard Cordray said.

Purchases of previously owned homes unexpectedly declined in August for the first time in five months as investors retreated from the market.

The commitment by the two housing giants marks a win for upstart VantageScore Solutions in its quest to compete against industry leader Fair Isaac Corp. However, the outcome of the review is uncertain, and Fannie warned that the costs of adopting new credit scores might prove to be "substantial" for lenders and others.

The loosening of mortgage credit "hasn't been as significant as some have reported," and first-time buyers remain scarce, complains Stuart Miller of homebuilder Lennar.

All the mistakes and errors in a loan file should be dealt with prior to the mortgage funding.

Nonagency mortgage securitization has fallen well short of forecasts this year, as commercial banks bid up for loans to put on their balance sheets. But the fourth quarter could offer this moribund market a chance at redemption.

Home values in the United States rose more slowly in August on a monthly basis than they have in a year, according to Zillow.

Home loans to lower-income Americans are dwindling as Washington regulators and major banks continue to haggle over who pays when riskier mortgages go bad.

The pricing of the class-A notes paralleled that seen in a recent first-time issuer's single-family rental securitization in August, but the pricing for the rest of the capital structure differed.

Mortgage insurers agree that the FHFA's capital-retention proposal would offer more clarity than the existing regulatory framework, but they share concerns about the treatment of single-premium policies, risk requirements and other details.

Trulia, a San Francisco-based online marketplace, is offering mortgage lenders and agents the ability to coordinate their marketing efforts with real estate agents.

HF2 Financial Management in Denver is acquiring a majority equity interest in ZAIS Group, a specialty investment management firm.

Fannie Mae and Freddie Mac are charging excessive loan fees, according to some industry groups, who claim it is time to stop overcharging borrowers who use conventional financing to buy a home.

Housing starts slumped in August after reaching the highest level in almost seven years, pointing to an uneven pickup in the residential real estate market that will limit its contribution to economic growth.

Mortgage rates jumped to a four-month high, increasing home-loan costs as the economy shows signs of strengthening.

Caliber Home Loans in Irving, Texas, has agreed to buy Cobalt Mortgage in Kirkland, Wash.

A bill introduced in the House Financial Services Committee would eliminate appraisal requirements established by the Dodd-Frank Act for certain higher-risk mortgages when lenders hold the loans in portfolio for at least three years.