Underwriting

Homestar Financial began winding down operations last fall, but its capabilities as a Ginnie Mae issuer was attractive for Irvine, California-based OCMBC.

But the purchase business that brings in three times the fee size as refinancings will be the driver of the improvement for the publicly traded title underwriters.

The new offering from United Wholesale Mortgage replaces a July through Labor Day promotion that only covered certain FHA and VA refinance products.

The Federal Housing Administration's renovation program parameters hadn't been updated in a decade, faling behind similar products from other providers. The Nov. 4 changes will bring it up to speed.

In addition to promoting Tom Hutchens to president, non-qualified TPO Angel Oak Mortgage Solutions also named a trio of new executive vice presidents.

The change in medical debt reporting initiated by the three credit bureaus did not go far enough as 15 million Americans are still impacted, the groups led by the National Consumer Law Center said.

Additions to product menus for cash-out refinancings, adjustable-rate loans and jumbos drive the increase in availability, the Mortgage Bankers Association said.

Appraisal appeal rules announced by Fannie Mae, Freddie Mac and FHA set to go into effect in three weeks, will now be required starting on Oct. 31.

The Swiss bank claims that Countrywide is obligated to indemnify it for legal expenses stemming from risky mortgages bundled pre-2008.

Nearly all of the business came from home purchases, but reflecting the decline in mortgage volume and a revived Federal Housing Administration offering, fewer people overall used the product.