Underwriting

The effect is likely to be felt in consumer debt burdens and application misrepresentations, industry leaders say.

As the rising rates shrink the number of potential customers, mortgage brokers are seeking these products in order to keep business up.

The mortgage payments fintech completed a $31 million Series C capital raise with Bain Capital Ventures and SignalFire as the lead investors.

These are the first partnerships the Encompass software creator has made with outside providers and more such integrations are expected, company leadership said.

However, all but one company did less business in the most recent period than during the third quarter, and new insurance written was down across the board compared with one year prior.

A rise in reverse occupancy fraud is contributing to the uptick, a CoreLogic report found.

Using stimulus checks and money saved from lower spending were each cited by just under one-quarter of those looking to buy in the next 12 months, a Redfin survey found.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, has cautioned banks, credit unions and fintechs about fair-lending violations that may stem from reliance on artificial intelligence. His comments threaten to discourage financial firms from using the technology to crunch nontraditional data about borrowers, experts say.

The co-founder of Arch Capital Solutions reviews the changes made to reporting disclosures on mortgages for condominiums and units located in HOAs that were part of a response to the tragic condo collapse in Surfside, Florida.

The CEO of the Lincoln Family of Companies brand details its expansion strategy, which is unique for the settlement services business.

The mortgage broker business was never a driving force for the Chicago-based firm's purchase of Stearns Lending, so dropping it wasn't totally unexpected.

December was the fifth month out of the last six in which credit conditions loosened, the Mortgage Bankers Association reported.

The metric’s imminent end after more than 40 years means servicers need to put replacement plans in motion if they haven’t already.

But low mortgage rates and higher wages are allowing borrowers to meet conforming loan underwriting terms — at least for now.

Error findings related to income and employment reached a high point since Aces Quality Management started its report in 2016.

Activity is down 20% from one year ago, driven by a 65% falloff in rate and term refinancings, Black Knight said.

While qualifying got a little tougher for entry-level buyers with lower incomes in November, some other prospective borrowers had an easier time of it.

This group of homeowners has greater financial obligations than any generation before them and largely aren’t aware of how they can make use of their home as an asset, a survey from Hometap found.

Borrowers who make at least a 10.01% down payment will not be required to obtain this form of credit enhancement, as these loans are not being sold to Fannie or Freddie.