Underwriting

Mortgage application volume was practically flat when compared with one week earlier, according to the Mortgage Bankers Association.

Despite rising home prices and a market where many older homeowners are loath to sell, home equity line of credit lending remains muted in all but one corner of the industry: credit unions.

Critics of recent False Claims Act enforcement argue the Justice Department is too heavy-handed toward lenders and servicers. But in an industry reputed for shoddy processes during the crisis, perhaps stringent oversight is warranted.

Picking a new benchmark for adjustable-rate mortgages is the easy part. Industrywide implementation is where things get tricky.

Mortgage rates dropped to their lowest point in six weeks as bond investors were concerned about inflation and the U.S. economy, according to Freddie Mac.

With condominium lending rising, CoreLogic is now offering lenders self-service access to its condominium project review data service.

The mortgage delinquency rate reached its lowest point in nearly a decade in May due to tighter underwriting, according to CoreLogic.

Mortgage application volume increased 3% from one week earlier as slightly lower interest rates resulted in more refinance activity, according to the Mortgage Bankers Association.

PHH Corp. will pay the Justice Department $75 million to settle a False Claims Act investigation of its underwriting practices on government-insured mortgages and loans sold to Fannie Mae and Freddie Mac.

The year opened with hopes that regulatory and enforcement pressures would abate for the mortgage industry. The reality has turned out quite differently.