Underwriting

A new refinance mortgage offered by SoFi and Fannie Mae lets consumers tap into their home equity to pay down student loan debt at terms more favorable than a traditional cash-out refi.

Cathay General Bancorp in Los Angeles has agreed to a community reinvestment plan tied to its deal to buy SinoPac Bancorp from Bank SinoPac in Taiwan.

Home prices will increase by more than 5% over the next year, after increasing by 6.3% on a year-over-year basis in September, according to CoreLogic.

Bethpage Federal Credit Union, Holston Methodist Federal Credit Union and United Heritage Credit Union have all selected the FirstClose Report for instant title search, flood certification, valuation and property information tied to mortgage and home equity loan products.

September's mortgage application defect risk declined 1.4% from August and 14.8% from one year ago, because of the continued improvement in loan manufacturing processes, said First American Financial Corp.

Mortgage brokers were among the companies that received the regulator's warning letters, but brokers are not required to report HMDA data — leading many to suspect mini-correspondents, which straddle the line between broker and lender, were the recipients.

The CFPB sent letters Thursday to 44 mortgage lenders and brokers warning them of potential reporting violations related to their mortgage lending activities — infractions the bureau is increasingly pushing lenders to take seriously.

Barclays is trying to draw a line at $2 billion in penalties to settle a U.S. investigation into its sale of mortgage securities after it received an opening offer that it considered too high.

Mortgage rates slipped from last week's spike and the 30-year fixed-rate mortgage eased back to its summertime range below 3.5%, according to Freddie Mac.

Arch Capital Group's mortgage insurance business had underwriting income of $37.4 million in the third quarter, an increase of 119% compared with the $17.1 million one year prior.

The Freddie Mac Multi-Indicator Market Index for August was up 5.4% over the same month last year, driven by its purchase component, which had an 18.6% increase.

Home prices, when adjusted for income and interest rates, decreased in August by 2.6% on a year-over-year basis, making properties more affordable, according to First American Financial Corp.

CoreLogic reported its net income increased by 27% to $36 million for the third quarter on a year-over-year basis, as it saw record highs for revenue and operating income.

Fannie Mae is planning to provide relief to lenders from potential buybacks for loans in which the borrower's income, assets and employment information have been validated through automated underwriting.

Equifax Workforce Solutions has been selected as a designated vendor for Fannie Mae's Desktop Underwriter validation service.

A title agent's cost for closing a loan increased an average of $210 nationwide in the third quarter because lenders are using disparate processes after implementing the TILA/RESPA integrated disclosures, according to First American.

Lenders will get a reprieve from the threat of some mortgage-related penalties under a new program announced by housing-finance giant Fannie Mae on Monday.

Altisource Origination Services, which provides outsourced loan fulfillment services, is rebranding as Trelix.

China Oceanwide Holdings Group has agreed to purchase Genworth Financial in a $2.7 billion cash deal, joining a record buying spree by Chinese companies as they seek to boost growth overseas.

The U.S. housing market is about 10 times larger than Canada's, but we can learn a few lessons from the country's cautious approach to its housing policy.