Collateral was much less of an issue in the purchase market, accounting for just 14 percent of conventional denials.

“Our tool puts valuable information into the hands of the public in an accessible way," said CFPB Director Richard Cordray. But will consumers use this information against mortgage lenders?

Despite recovering house values in most markets, insufficient collateral remained the biggest obstacle for consumers trying to get mortgage financing in 2012, according to a new Inside Mortgage Trends analysis of Home Mortgage Disclosure Act data. In virtually every category of the market, loan applicants were more successful in getting approved for a mortgage last year than they were back in 2011, the HMDA data show. Some 15.5 percent of loan applicants were turned down last year ... [Includes one data chart]

Bank of America and its acquired headache, Countrywide, accounted for the biggest chunk of mortgage repurchases from the government-sponsored enterprises during the first half of the year, but the focus shifted to different lenders during the second quarter. A new Inside Mortgage Trends analysis of repurchase disclosures made by Fannie Mae and Freddie Mac shows that BofA repurchased $8.73 billion in mortgages – most of them originated by Countrywide – during the first six months of 2013 ... [Includes one data chart]

Rising home prices and interest-rate trends continue to decrease purchase-mortgage affordability for potential homebuyers. However, industry analysts note that mortgage affordability is still historically high and could soon improve. The 20-city S&P/Case-Shiller home price index increased by 1.8 percent in July compared with the previous month, according to the latest data released this week. On a year-over-year basis, the index was up by 12.4 percent. The home-price gains indicate a ...

With roughly three months left before the Consumer Financial Protection Bureau’s rules on loan-originator compensation and ability-to-repay standards kick in, mortgage originators are scrambling to find the best way to survive and thrive under the new regime. In recent weeks, some in the mortgage broker community have suggested that operating as a mini-correspondent could help brokers bypass points-and-fees complications with the qualified mortgage definition under the ATR rule ...

Borrowers or loan officers misreporting income on loan applications at the height of the housing boom may have pushed up the default rate of high-income borrowers, according to a new Federal Reserve analysis of Home Mortgage Disclosure Data that was matched with non-HMDA credit data. Researchers Neil Bhutta and Glenn Canner of the Fed’s Division of Research and Statistics found that many borrowers classified as high-income may actually have had lower incomes than what they stated on applications, and ...

Wingspan Portfolio Advisors, a Dallas-based diversified mortgage services provider, has acquired two customer service operations from JPMorgan Chase to improve its delivery of outsourced mortgage services, including loan origination and specialty servicing. The company’s latest acquisition is a large-scale customer service site in Monroe, LA, which would enable Wingspan to respond to client needs faster and better, according to Steven Horne, Wingspan president and chief executive officer ...

Servicers largely approve of an accounting change for foreclosures proposed by the Financial Accounting Standards Board. However, industry participants differ on particular disclosures that would accompany the proposed change. In July, FASB proposed clarifying when a foreclosure occurs, for accounting purposes. The accounting board said reporting practices for troubled-debt restructurings and residential foreclosures are currently varied due to the lack of an accounting definition for ...

Although Nationstar Mortgage has delayed loan closings in certain production channels due to what it calls a “switch” in document custodians, it continues to tap the capital markets for debt and servicing advances. This week alone, the nation’s sixth largest residential servicer priced $225 million in senior notes, and inked a deal for a new $1 billion servicing advance facility with Wells Fargo serving as trustee and Barclays Bank as the administrative agent. The lender is actually Barclays. A spokesman for the nonbank told...