Underwriting

Mortgage application volume fell 27.6% on an adjusted basis for the week ending Oct. 9, reversing the rush of the previous week caused by the TILA-RESPA Integrated Disclosure rule becoming effective, according to the Mortgage Bankers Association.

Homeowners continue to give their properties a higher valuation than appraisers would, according to Quicken Loans.

"How's TRID going with you?" is sure to be the most-asked question at the Mortgage Bankers Association's Annual Convention, but fair lending compliance and the Qualified Residential Mortgage rule are among the key market developments that will dominate conversations.

Fannie Mae and Freddie Mac announced this week a revised selling representation and warranty framework at the direction of their regulator, the Federal Housing Finance Agency.

The inclusion of a loan secured by Chicago's Prudential Plaza in a recent CMBS is causing a stir.

In Bakersfield, Calif., a teacher on an average salary can afford 86% of the homes on the market. In Salt Lake City, that number drops down to only 26%.

A weak jobs report was enough to send mortgage rates into a downward spiral, according to Freddie Mac's Primary Mortgage Market Survey for the week ending Oct. 8.

By using data from both post-closing and prefunding quality control reviews, lenders can craft a more proactive prefunding QC strategy that takes into account high-risk areas that are specific to their businesses.

Getting those last-minute applications in before the TILA-RESPA Integrated Disclosure implementation date caused mortgage application volume to rise 25.5% on an adjusted basis in the week ending Oct. 2.

An initiative underway at Freddie Mac seeks to integrate new and existing technology to create a comprehensive suite of quality control tools designed to help lenders manage their mortgage repurchase risks.