Mortgages

Bills in Congress, capital rules, GSE reform and credit modernization hold a mix of benefits and risks for Independent Community Banker of America members, Senior Vice President Ron Haynie says.

Newly minted doctors want to buy homes but because of student debt and job history, likely can't even meet the wider jumbo underwriting criteria without help.

The industry reported $275 million in losses from internet crimes last year, a 59% annual increase as losses nationwide surpassed $20 billion.

A Colorado couple filed suit after realizing they might owe as much as $279,000 on a home equity investment contract used to obtain $88,000 in 2018.

Economists surveyed by Wolters Kluwer are scaling back rate cut expectations as Iran conflict-driven energy costs push inflation higher, complicating the Fed's path forward.

"Wildfire risk is not just an occasional catastrophe, but a recurring cost embedded in the state's economy," said the report issued this week by the California Earthquake Authority.

Jumbo loans demand more scrutiny and documentation, but automation is streamlining the process — and lenders who master the product stand to gain in a moderately bullish market.

LoanDepot will integrate Figure's proprietary credit and loan underwriting engine into its own proprietary mello technology platform and point of sale system.

It doesn't have to be all or nothing, but all paths are complex, capital markets and policy experts in the Treasury Market Practices Group say.

The 30-year fixed fell to 6.37% after a two-week ceasefire tempered war-driven volatility, but economists warn the spring housing market faces continued turbulence.

The Mortgage Bankers Association found gains in March for conforming, jumbo and government-sponsored loan indices for the third consecutive month.

Conforming loan limits are determined using a home price index. A congressman is proposing a switch to an income-based metric, creating more jumbo mortgages.

Jay Plum, head of consumer lending at Fifth Third Bank, says artificial intelligence is fundamentally shifting relationships between banks and their third-party software vendors, allowing banks to do things on their own that they would previously rely on vendors to do for them, like identify risky loans and prepare for exams.

The effective tax rate, measuring taxes relative to home prices, also increased to its highest mark in five years, according to Attom's analysis.

The California-based lender announced Wednesday the addition of One Goal Mortgage, a branch serving the Omaha, Nebraska, metro area and Southwest Iowa.

Better is focusing on its U.S. mortgage unit, which reported higher-than-expected preliminary loan volumes and priced a stock offering.

A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.

Roughly a third of homeowners with a mortgage rate less than 6% would not give up their rate for any reason, according to a survey of 1,000 mortgage holders.

Adam Boyd, a veteran financial services executive with more than 25 years of experience, will head the growth of Rate's consumer lending platform.

Washington State charged Newrez after a consumer investigation, with the notice following recent enforcement action against Luminate Home Loans.