Recent guidance from the Office of the Comptroller of the Currency aims to allow banks to originate mortgages with high loan-to-value ratios to help borrowers in distressed areas complete home improvements. The OCC released guidance in August addressing originations of mortgages with LTV ratios above 90 percent, even allowing for LTV ratios above 100 percent in certain circumstances. Keith Noreika, the acting Comptroller of the Currency, discussed lending in ...
Conventional mortgages that meet Fannie Mae and Freddie Mac purchase guidelines remained the biggest source of new home lending during the third quarter, although other product types saw sol-id increases in origination volume as well.