News Topic: Underwriting

The Consumer Financial Protection Bureau says the proposal would increase access to credit, but consumer groups argue that it will encourage lenders to make high-cost loans while protecting them from legal liability. ... Read full article

An industry coalition wants to ensure borrowers who took out certain types of loans to fund their education aren’t locked out of access to historically low mortgage rates. ... Read full article

The key word is "temporary" with the FHA's quality control waiver expiring and not likely to be renewed. ... Read full article

Due to possible exploitation, Bank of America instituted a policy that limited loans to persons in guardianships, but later ended that policy. ... Read full article

Lenders need to use alternative data as an overlay to traditional underwriting methods to help creditworthy customers in hardship because of the coronavirus crisis. ... Read full article

The availability of some loans used to build homes dried up due to the coronavirus. Opening up the economy may help if it doesn't lead to a spike in infections, and if consumer demand persists. ... Read full article

Mortgage rates are at record lows, but borrowers hoping to take advantage are running into the toughest loan-approval standards in years. ... Read full article

Now that the Consumer Financial Protection Bureau says it will scrap an unpopular standard for so-called qualified mortgages, the big question is what will take its place. ... Read full article

Director Kathy Kraninger has told lawmakers that the agency will delay the expiration of the so-called QM patch, now set for January 2021. ... Read full article

Fannie Mae and Freddie Mac’s exemption from the Qualified Mortgage rule is on borrowed time, but a House bill would allow lenders to use the mortgage giants’ guidelines for documenting borrower income. ... Read full article

Regulators should consider online lending and a list of what loans qualify for CRA credit in any revamp of the outdated law. ... Read full article

The mortgage industry has put more emphasis on organizing data in a digital manner and presenting it in an easily digestible format. ... Read full article

A year after the major credit bureaus agreed to strip tax liens and civil judgments from consumers' credit files, a new study says it is hampering lenders' credit decisions. But proponents of the move insist it was the right call. ... Read full article

New unit will work with foreign governments; standards too soft on those without conventional paychecks. ... Read full article

The Federal Housing Administration updated its lender certification proposal originally issued this past May, as it looks to ease industry concerns on False Claims Act enforcement. ... Read full article

The Department of Housing and Urban Development will remove some barriers to government-insured condominium lending next month, including a post-crisis measure housing industry groups have long pressed for a change to. ... Read full article

As lawmakers meet this week to discuss artificial intelligence, they should work with regulators to create universal and workable definitions. ... Read full article

The digital lender rebranded its mortgage business as SoFi Home Loans about four months after it took a step back from real estate finance to redesign its processes. ... Read full article