News Topic: Mortgage applications

The bank was fined $25 million for what the Office of the Comptroller of the Currency said was an inability to provide the discounts to all who were eligible. ... Read full article

The Federal Housing Administration is moving forward with a long-delayed plan to reduce the term of the home warranty required for high loan-to-value mortgages on new houses. ... Read full article

Many federal agencies have been closed for more than three weeks, making it the longest shutdown in U.S. history. With no end in sight, here's how it's affecting banks, credit unions and mortgage lenders. ... Read full article

The Consumer Financial Protection Bureau issued guidance late Friday that will shield some new mortgage data from the public that lenders are required to report. ... Read full article

Wells Fargo will lay off 1,000 workers primarily from its mortgage unit in the first major round of a previously announced plan to cut the bank's workforce by as much as 10% over the next three years. ... Read full article

While JPM won't by the first to offer tap to pay, others may follow; cryptocurrency drops to lowest level of the year. ... Read full article

An AI-powered virtual assistant could be used in a variety of ways, including helping customers to prequalify for mortgages, easing compliance and detecting problems. ... Read full article

Debates on the issue often focus on how lending decisions affect certain demographic groups, but those analyses tend to ignore an important factor: default rates. ... Read full article

Paycheck information gleaned from bank accounts is emerging as an alternative to verifying a mortgage applicant's income and employment with a 4506-T tax transcript request to the IRS. ... Read full article

Union Bankshares has reached an agreement under which Federal Savings Bank will originate mortgages in its branches. ... Read full article

The bank says its partnership with Lender Price will help streamline and simplify its home loan process. ... Read full article

Loosening lending standards can actually increase the odds that banks get sued for discrimination. ... Read full article

Banks that scored high in customer-satisfaction ratings did so for their front-line service, not their tech capabilities, study finds. ... Read full article

Lenda, launched in 2014, currently makes mortgages start to finish in two weeks. But it's aiming to make it a process that can be finished on a borrower's lunch break. ... Read full article

Financial services groups are calling for more funding for the Internal Revenue Service that could fix flaws in the agency's system for verifying the income of mortgage applicants. ... Read full article

Warburg Pincus has agreed to buy a majority stake in a mortgage and consumer loan origination and servicing platform owned by Fiserv. ... Read full article

The Federal Reserve’s beige book survey indicates the economy is expanding as household loan demand declines. ... Read full article

Adolfo Marzol, an official at the Department of Housing and Urban Development, is optimistic that technological improvements and other changes can help draw Federal Housing Administration lenders back to the fold. ... Read full article