The FHA this week clarified its policy on insuring mortgages with PACE (Property Assessed Clean Energy) senior tax liens to make it easier for borrowers to obtain FHA financing for such mortgages, but the mortgage and real estate industries continue to have concerns. The new guidelines address state programs where the PACE obligation is treated like a property tax with priority over an FHA lien. The program provides financing for home-energy improvements and water conservation, and is repaid through an assessment added to the property’s tax bill. The guidelines are designed...

Applications for refinances decreased slightly last week compared with the week prior, according to the Mortgage Bankers Association, as average interest rates on mortgages increased during the week.

Fanie Mae made changes to its HomeReady program and Freddie Mac adjusted its Home Possible program.

“[The GSEs’] corrupt business model lets shareholders and executives reap huge profits while the taxpayers cover all losses,” according to the Republican platform.

The changes follow looser underwriting standards implemented by Redwood outside of the MPF Direct product.

Some 5.0 percent of MGIC’s new insurance written in the second quarter of 2016 was for mortgages with loan-to-value ratios above 95 percent.

To help address racial disparities in lending, the NCRC called for expansion of the Community Reinvestment Act, stronger enforcement of the CRA and strengthening of the government-sponsored enterprises’ affordable housing goals.

“Discrimination should have no place in the mortgage industry,” according to the Republican platform.

Officials at Wells Fargo said that in the first month of offering the non-FHA yourFirstMortgage, applications for more than $1.0 billion in production were received.

Officials at BofA have a positive outlook for originations, with the bank’s first-mortgage production pipeline at higher levels at the end of the second quarter.