University Bancorp gained a number of offices from Huron Valley Financial. It also hired lenders and staff with experience in reverse mortgages and wholesale lending.
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.
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.
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.
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.
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.
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.
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.
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.
