What's more, loan officers' pay has dropped. At work behind these surprising trends is a blend of economic forces, technological change and pressure on banks to pay entry-level employees better.
British bank to pay $5.5 billion to settle mortgage issues, but faces Justice Department fine; Payments company offers restaurants $10,000 to stop accepting cash.
Supporters maintain hope that the Federal Housing Administration will revive a proposed premium cut, but a key obstacle remains: There's no one to run the agency.
With traditional mortgage lending opportunities becoming increasingly scarce, banks in Seattle and Portland are loading up on jumbos, diving into multifamily and reviving dormant bridge loan programs.
A key question for the future of housing finance is whether large and small lenders will both be able to compete, or will a new system favor Wall Street giants?
The billionaire investor agreed to buy shares at a deep discount and provide a fresh credit line for the Canadian mortgage company, tapping a formula he used to prop up lenders from Goldman Sachs to Bank of America.
