Mortgage Brokers Operated AMC to Influence Values
The owners of a Chicago-area mortgage brokerage are accused of operating an appraisal management company in order to influence appraised values on fraudulent loans.
Mortgage Apps Drop, Refi Share at Nearly 1-yr High
Even though a decline was recorded for weekly mortgage applications, the share that were for refinances was the widest it's been in nearly a year. Jumbo rates suggest investors seek more jumbo product.
Acquisition to Lift Wintrust Production by $1 Bil
The acquisition of a mortgage banker that specializes in home loans to veterans will boost Wintrust Mortgage's annual originations by nearly $1 billion and its servicing portfolio by more than $1 billion.
15-Month High for Ginnie's HMBS Issuance
IBERIABANK Settles FHA False Claims Lawsuit
Although overa1l issuance eased at the Government National Mortgage Association, issuance of reverse mortgage securities was the highest it's been in 15 months.
A lawsuit alleging that IBERIABANK Corp. made false claims on residential loans that are insured by the Federal Housing Administration has been settled for nearly $12 million.
FHA Raises Loan Limits for 2018
As was the case recently for conventional conforming loan amounts, loan limits on forward and reverse mortgages insured by the Federal Housing Administration have been boosted for next year.
FHA to Stop Financing Properties With PACE Loans
The Department of Housing and Urban Development will no longer allow financing on properties where energy efficient improvement liens will remain in place.
Ginnie Limits VA Refinances to Address Churning
The Government National Mortgage Association has imposed restrictions on refinances of home loans guaranteed by the Department of Veterans Affairs.