Underwriting

Closed-end home equity volume was up 13% year-over-year in the fourth quarter, outpacing HELOCs originations, which only grew 8%, TransUnion reported.

The product, as well as the housing market, is different today than what it was two decades ago, where some feel it was a cause of the financial crisis.

The Mortgage Industry Standards Maintenance Organization has created a new version of, as well as enhanced the current edition. of its reference model.

Legal and compliance overtook verification issues as the top cause for application defects during the fourth quarter, according to Aces Quality Management.

The increase in purchase mortgage rate lock volume provides support for those looking for a strong Spring market this year, Optimal Blue found.

April was a mixed bag for title companies, executives said on earnings calls, but some are expecting a stronger market the rest of the year.

More homeowners are willing to take out a HELOC versus three years ago, but a knowledge gap remains around the use cases for the product, MeridianLink said.

Loan providers saw more frequent use of verification tools as well as shortened turnaround times from preapproval to application submission, Lenderlogix said.

The company has not traditionally had a large presence in housing finance, but plans for government-related credit modernization have given it a boost.

Plaintiffs raise prior accusations that the lender ignored applicants' debts in collections, and used unreasonable residual income calculations.