Underwriting

Higher interest rates on home mortgages drove the share of loans used to purchase houses rather than refinance to new heights in May.

Paycheck information gleaned from bank accounts is emerging as an alternative to verifying a mortgage applicant's income and employment with a 4506-T tax transcript request to the IRS.

The House Financial Services Committee approved a bill that would roll back the requirements of the TILA-RESPA integrated disclosures rule for charities like Habitat for Humanity and instead allow them to use the old good faith estimate and HUD-1 mortgage forms.

Mortgage applications for newly constructed homes declined in May as sales and supply are not keeping up with demand, the Mortgage Bankers Association said.

After declining for two straight weeks, mortgage rates reversed direction this week and rose to their second highest level this year, according to Freddie Mac.

Mortgage credit availability increased in May by 1.5% as more jumbo and high-balance conforming loan products came on the market, the Mortgage Bankers Association said.

Genworth Financial's mortgage insurance business, which had slipped in market share, has more certainty about its future prospects after a federal government committee approved the holding company's acquisition by China Oceanwide.

Mortgage rates dipped for the second consecutive week although 10-year Treasury yields started to rise again, according to Freddie Mac.

With its acquisition of artificial intelligence and machine learning developer HeavyWater, Black Knight is turning to its Artificial Intelligence Virtual Assistant to streamline the mortgage process, with an immediate focus on the originations sector.

Fannie Mae is lowering down payment requirements and lender fees on manufactured housing loans to improve affordable housing access.