New lending in the conventional-conforming market stayed on an even keel in the fourth quarter of 2017, likely buoyed by a surge in refinance business.
Ongoing issues with the income-verification system at the Internal Revenue Service have prompted lenders to seek other options to verify the income of mortgage borrowers. In a new request to the Treasury Department, the Consumer Mortgage Coalition suggested that a database from the U.S. Department of Health and Human Services is a viable alternative to the IRS system.