Underwriting

Suffolk Bancorp said increased oversight of commercial real estate contributed to — and may have accelerated — its decision to sell to People's United. Other banks could make a similar choice.

The deadline has arrived for mandatory submissions to the Federal Housing Administration's Electronic Appraisal Delivery portal, but as many as one-third of lenders that originate FHA-insured mortgages have yet to use the new system.

The market gyrations following the United Kingdom's vote to leave the European Union have an upside for mortgage lenders, as already-falling interest rates are expected to boost home purchases and refinancing.

Fannie Mae has delayed the roll out of its new automated underwriting system that will require mortgage lenders to use trended data for the first time in submitting their loans for approval.

Mortgage rates are up two basis points over the previous week, but they are not increasing as fast as the benchmark 10-year Treasury yield.

Mortgage applications increased 2.9% from one week earlier as interest rates remain at three-year lows, according to the Mortgage Bankers Association.

In something of a cruel irony, homebuilders are finding constraints on construction financing easing, but little in the way of quality lots on which to put up their houses.

PennyMac Mortgage Investment Trust is now offering sellers the option to have the company underwrite the whole loans it purchases.

The decline in homeownership can be stopped, and even reversed, by taking action on credit access, better evangelizing for down payment programs and offering borrower counseling.

Optimal Blue will be acquired by private equity firm GTCR in a deal that makes Mortgagebot founder and tech veteran Scott Happ CEO of the Texas-based product and pricing engine software vendor.