Chicago-based Guaranteed Rate claims to have significantly advanced towards the world’s first fully digital mortgage with Transfersafe, its latest cloud-based technology service for homebuyers. “Transfersafe is the next major step in our evolution of the mortgage process,” said Victor Ciardelli, company president and CEO. “We’ve already brought our online loan application to the market, which has funded more than $3 billion in loans to date.” Transfersafe facilitates instant ...

Homes are worth more than borrowers currently estimate, according to new indices from Quicken Loans. Last week, Quicken published a home value index based on appraisal data and a home-price perception index based on loan applicants’ estimated values. “Quicken Loans records refinancing homeowners’ estimate of the value of their home at time of application as well as the agreed upon purchase price of homebuyers and home sellers,” the lender said. “The company then ...

Mortgage industry economists agreed that 2014 loan origination volume would be down significantly from 2013, tapering off to another drop in new business in 2015. With a surprising increase in production during the third quarter and an early October bond market rally, the outlook for next year is less clear. Mike Fratantoni, chief economist at the Mortgage Bankers Association, last week predicted that mortgage originations would grow by 7.4 percent next year ... [Includes one data chart]

One veteran mortgage trade group official, a staunch Republican no less, told us that Lawsky is an “honest and bright guy,” adding that he understands the issues.

The current supervisory expectation of a near-zero error rate is virtually impossible to achieve, lenders have told the Consumer Financial Protection Bureau.

The privately held Mortgage Master is on track to originate $5 billion this year, all of it through the retail channel.

Non-agency issuers produced $32.16 billion of new commercial MBS, a 40 percent increase from the second quarter.

An administrative solution is already possible within the Housing and Economic Recovery Act of 2008, which grants the FHFA authority to bring the GSEs out of conservatorship.

Ocwen chief Bill Erbey noted that the settlement amount might be materially higher and include requirements beyond a monetary penalty.

Production of rural housing loans with a Department of Agriculture guaranty is expected to end 2014 far below the record volume originated last year, according to agency estimates. USDA Section 502 guaranteed homeownership obligations in fiscal 2014 totaled $19.1 billion, down from last year’s $22.4 billion, according to data recently disclosed by the agency. Texas led...[Includes one data chart]