WI Bank Settles Mortgage Discrimination Charges
A bank based in Wisconsin and operating in three Midwest states has settled allegations that it discriminated against black and Hispanic mortgage borrowers.
Might Be 2 Years Before US v Quicken Goes to Trial
The battle between the U.S. government and Quicken Loans Inc. might not make it into a courtroom for two years.
Appraisal Services Target FHA EAD, AMC Utilization
|Arms, Jumbos Lead Weekly Mortgage Dip
For the fifth consecutive week, new mortgage activity came up short of prior-week business. This week, the decline was aided by reduced inquiries for adjustable-rate mortgages and jumbo loans.
A new service is designed to help lenders connect to the electronic portal for government loans, while appraisal management companies are vying for business. An appraisal technology firm was acquired.
Mortgage Closing Rate Up as Turnaround Lengthens
The good news is that a bigger share of monthly loan applications converted into closed loans. The bad news that it took longer to close them.
Ellie Mae Publishing FHA Handbooks
Handbooks that are being implemented by the Federal Housing Administration will be published by Ellie Mae Inc.
Refi Forecast Boosted
The volume of home loans now forecasted to be refinanced this year is nearly $50 billion more than was expected last month.
Retail HECM Originations Up Despite Wholesale Drop
Although wholesale lenders scaled back government-insured reverse mortgage originations, retailers made a gain. Urban Financial Group led monthly proprietary activity.
Government Objects to Quicken Home Town Court Venue
The U.S. government is objecting to Quicken Loans Inc.'s attempt to establish the court venue in a legal wrangling between the Department of Justice and the online lender.