The rise in retail market share likely reflects the fact that smaller lenders, which are more likely to do retail lending exclusively, account for a growing share of GSE business.
About 90 percent of the housing markets in the U.S today are considered affordable, according to RealtyTrac. Speaking at a recent real estate conference in Miami, RealtyTrac Vice President Daren Blomquist said places like San Diego and Seattle are on the threshold of exceeding their historic affordability. …
Increased regulation and a relatively stable lending environment have helped reduce mortgage fraud, although that could change as purchase mortgages become more prevalent. Interthinx, a provider of risk management services for lenders, said in its new annual report for 2014 that mortgage fraud declined by 4 percent compared with 2013. The biggest drop was in fraud relating to a borrower’s employment or income. …
The pending implementation of the integrated disclosures rule is driving a sea change in at least two critical areas: technology innovation and regulatory expectation. Competency with the former will facilitate the fulfillment of the Consumer Financial Protection Bureau’s so-called TRID rule, according to speakers at the American Bankers Association’s recent regulatory compliance conference in Washington, DC. The rule, now scheduled to take effect Oct. 3, requires new consumer disclosures under the Truth in Lending Act and…
With same-sex marriage becoming law throughout the land, the question for the mortgage industry is how this would help the housing market. There is very little market research on homeownership rates among gays, lesbians, bisexuals, transgender and same-sex couples. But a recent survey by the National Association of Gay & Lesbian Real Estate Professionals found 54 percent of LGBT respondents own some type of real estate and, of those, 8 percent own a vacation home. In…
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