News Topic: Mortgage applications

Top officials at the Internal Revenue Service met with mortgage industry groups this week to discuss possible fixes to the agency’s verification system, which lenders rely on to process mortgage loans. ... Read full article

Mortgage lenders are bracing for big delays in the processing of mortgage applications, citing a problem with the income verification system at the Internal Revenue Service. ... Read full article

The company has agreed to buy the operations of Veterans Mortgage in Salt Lake City. ... Read full article

Experts in digital lending share useful insights into the potential opportunities and pitfalls, covering everything from mortgages to small business. ... Read full article

For community bankers, the current environment is more challenging than ever, with high regulatory burden and tough competition. Four bank CEOs sat down to discuss the future of the industry, and what they are hoping may change. ... Read full article

Federal Housing Finance Agency Director Mel Watt said the agency is poised to examine alternatives to how a Fannie Mae and Freddie Mac assess creditworthiness of home buyers, including seeking public comment on the issue later this fall. ... Read full article

Hawaii's booming economy contributed to the Honolulu bank's 10% increase in loans and 9% increase in deposits in the third quarter. ... Read full article

A change in the formula that banks use to calculate borrowers’ debt-to-income ratios, announced by Fannie Mae in April, appears to be spurring more lending. ... Read full article

The bank plans to contact all customers who paid fees for rate lock extensions during a three-and-a-half year period and to refund any who believe they should not have been charged. ... Read full article

Stephen Sessler, the director of mortgage banking at the $4 billion-asset Camden National Bank, provides other lenders a peek at the benefits and pitfalls of digital mortgages. ... Read full article

The share of purchase and refinance loans originated by nonbanks are at their highest point since at least 1995, according to an analysis of new Home Mortgage Disclosure Act data. ... Read full article

The changes are aimed at aligning requirements with a new Consumer Financial Protection Bureau rule under the Home Mortgage Disclosure Act. ... Read full article

Wells Fargo forced borrowers to pay millions of dollars in fees to extend interest rate locks that expired due to the bank's delays in processing mortgage applications, a lawsuit claims. ... Read full article

U.S. Bank and Wells Fargo to use Blend software to speed up mortgage origination processes; Robert Kaplan wants to keep stress tests on big banks. ... Read full article

Readers weigh in on a proposal to ease the leverage ratio, how post-crisis regulations have influenced lending, a CFPB overdraft fee study, and more. ... Read full article

As banks press for deregulation, the debate over whether high bank capital standards is inhibiting loan growth has taken center stage. ... Read full article