Homebuyers with less-than-stellar credit as well as those with low income are finding it easier to purchase a house with an FHA mortgage than affluent buyers, according to recent research by an independent housing research and consulting firm. Based on Department of Housing and Urban Development data and interviews with industry executives, researchers at John Burns Real Estate Consulting concluded that ...

Currently, residential lenders only have to report information on a closed-end reverse mortgage if the transaction involves a home purchase, home improvement or refinancing.

The increased market share for first-time homebuyers is part of a seasonal trend that has occurred in each of the past three years.

The second-quarter rebound in mortgage profits was linked to an increase in new lending and loan sales.

In its statement announcing the settlement, BofA stressed, “The claims relate primarily to conduct that occurred at Countrywide and Merrill Lynch prior to Bank of America's acquisition of those entities.”

Franchise deals – where stock and licenses change hands – could dominate the M&A market for the remainder of the year.

The average loan officer makes a $4,000 commission on each reach reverse mortgage they originate. Really?

Among the banks reporting that the rules had no effect on their approval rates, half indicated that lending policies would have been tighter without the safe harbor for mortgages that pass the GSEs’ automated underwriting models.

Another concern was that out-of-state call center lenders might not know the local lending laws, which can result in delayed closings.

“I’m wondering how many people buy homes outside of buying them with cash,” Ryan said during the webinar. “To me it’s that serious.”