Achieving simplicity would be nearly impossible and getting clarity is something that remains to be seen in the FHA’s proposed draft for identifying underwriting defects, said compliance experts. The FHA has asked for industry feedback on a draft single-family loan quality assessment methodology, which is part of the agency’s Blueprint for Access strategy announced earlier this year to expand underserved borrowers’ access to mortgage credit. The proposed methodology is based...

The vast majority of community banks plan to continue to offer mortgages even though increased regulation is limiting business, according to a survey conducted by the Conference of State Bank Supervisors. Rules from the Consumer Financial Protection Bureau remain a primary concern, although many community banks already offer loans outside of the standards for qualified mortgages. “Banks continue to see opportunity in residential mortgage lending but have a mixed view of non-QM lending,” according to the report jointly compiled with the Federal Reserve. “Assessing the ability to repay and QM standards against current exposures, bankers generally identified a low level of nonconformance, suggesting the rules may generally be in line with bank practices while still requiring significant changes in operations.” Some 64 percent of the 884 community banks surveyed said...

Several large nonbank lenders have banded together to form what they call a “working group” to address key regulatory issues that they say are stifling their growth and future prospects for success in a rapidly changing mortgage industry. The group’s members – including Ocwen Financial – will initially strive to educate and inform regulators about nonbanks, but will not lobby Congress. Members of the group stress that the nonbank collective is not a trade organization and does not seek that status. For now, Ocwen is...

Banks, thrifts and credit unions reported $540.4 billion of HELOCs on their books at the end of June, down 0.9 percent from March.

Mutual of Omaha bank said it remains "committed" to the mortgage business, even though it's closing the retail channel.

In response, EverBank questioned the accuracy of the IG report.

The GSEs securitized $100.30 billion of purchase mortgages during the third quarter, a 28.3 percent sequential gain.

Investors have been scratching their heads over the downdraft at Walter/Green Tree...

The handbook is designed to support FHA’s broader goals of expanding access to mortgage credit and making it easier for stakeholders to do business with the agency.

However, a separate lawsuit filed by Pershing Square Capital Management in the U.S. Court of Federal Claims is unaffected by Judge Lamberth’s ruling.