Lenders generated $25.0 billion in home-equity loans during the third quarter of 2015, according to Inside Mortgage Finance estimates, a modest 4.2 percent increase at a time when first-lien originations were fading. Home-equity lending – including open-ended lines of credit and closed-end second liens – hit its highest volume since the second quarter of 2008. Crashing home prices and extremely cautious underwriting have drastically reduced new home-equity lending. There is...[Includes three data tables]
Among other things, the language grants the CFPB greater flexibility to treat a balloon loan as a “qualified mortgage” if it was extended by a community bank or...
The CHLA is renewing its call for Treasury and the FHFA to amend the preferred stock purchase agreements once again, allowing the GSEs to build capital...
Meanwhile, Wells Fargo was the top-ranked ARM lender through three quarters in 2015 with $18.83 billion funded. PHH Mortgage was a somewhat close second...