Origination

Freddie Mac and Quicken Loans recently announced that they have joined forces to pilot several new initiatives aimed at helping provide more Americans the opportunity to achieve homeownership, while also building a smarter American mortgage finance system.

Consumers are applying for mortgage loans using more government applications compared to last week, and while the industry adjusts to the TILA-RESPA Integrated Disclosure rule, applications are expected to become more volatile.

As interest rates continue to lower and home values rise, mortgage fraud application risk has fallen 8.9 percent from the second quarter of 2014 to the second quarter of 2015, according to CoreLogic's October 2015 Mortgage Fraud Report. The Mortgage Application Fraud Risk Index showed that approximately 12,814 of mortgage applications, or 0.67 percent, contained fraud in the second quarter of 2015.

Wells Fargo and Bank of America posted strong 2015 third quarter financial results, with net incomes reaching $5.8 billion and $4.5 billion, respectively.

Mortgage applications experienced a dramatic increase this week just before the TILA-RESPA Integrated Disclosed Rule was put into effect on October 3rd.

Commentary is an ongoing series on theMReport.com that focuses on opinions, ideas, and insights from experts across mortgage banking. It’s finally here. After nearly two full years of intense discussion and preparation, the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Mortgage Disclosures rule has taken the mortgage industry by storm. Nancy Tarr, VP of national escrow operations at First American Title Insurance Corp., provides a checklist of questions that lenders should ask settlement providers while navigating this new process.

The Office of the Inspector General of HUD found that loanDepot, LLC, originated loans using ineligible downpayment assistance gifts out of HUD Federal H0using Administration requirements, according to a recent audit.

Although millennials have been labeled “the generation of renters,” research shows that this group is more interested in purchasing a home than other generations, but the problem is, they lack financial stability.

Lenders across the U.S. appear to be offering borrowers a second chance at obtaining a mortgage by originating more subprime mortgages for borrowers with credit scores under 620.

Mortgage loans declined from 8.7 million to 6.0 million, or by 31 percent in 2014 compared to the previous year, mostly due to a drop in refinancing.