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Tag Archives: Mortgage Applications

Can Online Lending Decrease Risk?


Technological innovation is changing the way the mortgage industry works, and the model followed by lenders who have embraced technology such as end-to-end online mortgage application and approval processes have made lending a less risky prospect, according to a report ...

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CFPB Finalizes ‘Know Before You Owe’ Mortgage Disclosures

The Consumer Financial Protection Bureau (CFPB) is issuing a rule Wednesday requiring lenders to use its disclosure templates to lay out mortgage terms for borrowers. The new ""Know Before You Owe"" mortgage forms will replace existing federal disclosures, and the CFPB says they'll help consumers better understand their options, comparison shop for the best mortgage deals, and avoid costly surprises at closing.

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FBR Expects $1.6B in Mortgage Volume for 2013

With third-quarter numbers from most of the industry's heavy-hitters in, analysts with FBR Capital Markets say their forecasts--$1.6 billion in mortgage volume for 2013 followed by $1.4 billion in 2014--are still well within reach, even though they argue that declining interest rates and lower overall loan volume translated to disappointing mortgage numbers last quarter.

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Two Lenders Penalized on HMDA Violations

Two mortgage lenders must pay a combined $459,000 in civil penalties for what the Consumer Financial Protection Bureau (CFPB) says are violations of the Home Mortgage Disclosure Act (HMDA). According to the bureau, Mortgage Master, a nonbank lender based in Massachusetts, and Washington Federal, a Seattle-based bank, were found to have ""severely compromised mortgage lending data"" on applications from 2011.

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Report Examines States Feeling Greatest Fallout from Crash

While Florida, Nevada, and California are some of the most commonly cited examples of states hit hard by the housing implosion, an analysis of fraud data submitted to LexisNexis' Mortgage Industry Data Exchange (MIDEX) shows New Jersey might have taken the worst impact. The Garden State ranked in the top 10 lists for reported mortgage fraud, potential collusion activity, and percentage of properties in default in 2012, giving it a number of problems to tackle as it heads into an era of heightened regulation.

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Mortgage Apps Drop Again

Mortgage application volume declined last week at a more sudden rate than in previous weeks, according to data from the Mortgage Bankers Association (MBA).

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Commentary: Housing Recovery? Hold the Champagne

Recent reports from the National Association of Realtors and the Census Bureau/HUD showed sharp increases in unit sales and prices, as well as increases in the inventory of homes for sale for April. Has housing turned the corner? Look again. Sales up, prices up, what's wrong with this picture? The last time both prices and sales of new homes increased in the same month was last September. In all of 2012, sales and prices moved in opposite directions in seven of the 12 months. What of course is missing from the two data sets is any indication of demand.

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