Recently proposed legislation would raise the IRRRL fee from 50 basis points to 85 bps. Lenders are not happy.

The outlook for HECM lending remains positive as rates remain low and seniors move to tap home equity during these troubled economic times. (Includes data chart.)

Under the new policy, borrowers must have made at least three consecutive monthly payments post forbearance in order to refinance, down from the standard six-month requirement.

ClearPath Lending has been slapped with a $625,000 fine for deceptive advertising to veterans, bringing the total amount of fines issued by the CFPB to more than $3 million since July.

Industry attorneys aren’t quite certain how the government will interpret the use of disparate-impact theory in enforcing fair lending laws.

Consumer advocates have urged the bureau to increase the safe-harbor QM threshold for first liens to a rate spread of 200 basis points.

The decrease stems solely from servicers buying delinquent loans out of Ginnie Mae MBS pools.

Veteran millennials accounted for 46.0% of VA purchase loans and 23.6% of refi loans so far this fiscal year.

1st Tribal was selected for the audit because it’s the largest player among Section 184 program lenders.