Underwriting

Default rates on various types of consumer loans were down 14 basis points in December on a year-over-year basis but were unchanged from November, according to Standard & Poor's and Experian.

Mortgage applications leapt 9% on a seasonally adjusted basis for the week ending Jan. 15 compared to one week earlier, according to the Mortgage Bankers Association.

Bank of America's mortgage banking income was down 26% from a year ago due to a decrease in core loan production revenue and higher intercompany charges during the fourth quarter.

Interstate Hotels & Resorts in Arlington, Va., has formed a partnership with Hospitality Funding to provide financing for hotel development projects.

Life insurance companies posted a higher return on their private commercial mortgage investments in the third quarter of 2015, compared to the second quarter, according to LifeComps.

The reverse mortgage industry is optimistic after recent reforms to the Home Equity Conversion Mortgage by the FHA and newfound respect from financial planners.

JPMorgan Chase reported a 21% drop in year-over-year earnings for its mortgage business as revenue dropped 10%.

William P. Foley II, who had been the executive chairman of the nation's largest title insurance underwriter, Fidelity National Financial, has stepped down from the role as of Jan. 8.

Some lenders have asked whether the bureau would adjust its so-called resubmission guidelines — which determine whether lenders have to refile data based on errors found in samples — and it has responded with a request for further industry input.

Freddie Mac has formed a partnership with the Lenders One Mortgage co-operative to give its members benefits on pricing and in other areas.