Underwriting

While usage of this process in mortgage closings picked up steam last year, only 34 states have permanent laws in place and two do not permit it at all.

The new calculation of borrowers’ monthly obligations will allow for a higher debt load from tuition, potentially opening eligibility to more Black applicants, according to public officials.

The move makes it easier for borrowers who don’t have standard W-2 incomes and those that do to get loans from the same outlets, and reflects broader trends.

Even though product availability is now at the same point where it was one year ago, it remains at 2014 levels.

More than two-thirds surveyed said they expect to make less money over the next three months as price reductions ramp up along with a market shift to purchases.

In addition to earning ancillary fee income, it provides originators with an opportunity to connect with current and potential clients mired in student loan debt.

The program, announced last October, looks to provide services to minority-owned banks and credit unions so they can increase homeownership rates in their communities.

While last year’s high valuations protected the wealth embedded in consumer residences, a new report suggests that they can also be an indication of rising risk.

Companies in the government mortgage market that serves low income, entry-level buyers are facing higher forbearance rates and more financial strain than others, making homeownership increasingly unattainable as credit remains tight.

It’s getting easier to close bigger loans for higher-priced properties, but credit is expanding slower for first-time buyers.

While the first quarter is typically the weakest period for the title business, the sector benefited from strong refinance volumes that were driven by low interest rates.

Loans bought on the secondary market have become increasingly important as borrower demand has ebbed and companies have sought to obtain mortgages through additional outlets to maintain production levels.

System updates, which may be a result of changes to the Preferred Stock Purchase Agreements, have Community Home Lenders Association members saying loans that were approved previously are getting rejected when put back through.

With independent title companies scoring the largest market share gain last year, the sector saw a 22% increase in premiums overall, the American Land Title Association said.

More lenders are willing to take on borrowers who are lower on the qualification spectrum as the economy rebounds.

One year after its internal merger, the fintech and fulfillment services provider’s COO Debora Aydelotte discusses the company’s support for community banks and its placement in the ranking of Best Fintechs to Work For.

In an increasingly volatile market, lenders need to come to terms with the fact that outsourcing might be the best option, writes Rob Wilson of Merchants Mortgage.

Point of sales providers are bringing improvements to their systems as loan officers look for ways to keep their pipelines active.

Willis, Texas led the list, with the most borrowers who would be likely to default if faced with sudden financial hardship.

These trends, in addition to the increase in appraisal contingency waivers, could add risk to mortgage lender businesses.