The Community Mortgage Lenders of America said the bill strikes a balance of maintaining safe lending while freeing up resources so more consumers can obtain a mortgage.
Wells Fargo handled 20.2 percent of the $841.42 million in agency mortgages outstanding at the end of the second quarter of 2016 that had interest rates between 4.510 percent and 5.000 percent.
State regulators had removed a clause from previous forms which said information from the submitting lender was “to the best of my knowledge, information and belief.”
“Most real estate agents say high loan-to-value ratio mortgages are readily available, especially for homebuyers with good credit,” said Tom Popik, research director for Campbell Surveys.
With the possibility of investors transferring non-agency servicing rights away from Ocwen Financial, Altisource Portfolio Solution has put an emphasis on providing services to other companies.