Applications for both new and refinanced mortgage loans continue to drop, according to the Mortgage Bankers Association.
Credit unions and other housing finance lenders face an economic pinch as rising interest rates squash demand for refinanced mortgage loans while demand for purchase money loans still struggles to grow.
Trade group says data show lending standards are tightening.
A three-judge federal appeals panel has ruled that credit unions do not have to pay their mortgage loan officers overtime – at least for now.
The U.S. housing finance market may be poised for a historic shift away from a long trend of primarily refinancing existing real estate loans to primarily funding new real estate purchases.
A former boss used sailing analogies to describe the mortgage market, saying things like, “A rising tide floats all boats.” With refinance loans falling and demand far exceeding supply, it’s hard not to look like an industry captain. Whether it is government subsidized programs, wide margins or vehicles to invest...
CUNA economist on panel of industry experts selected by Rep. Maxine Waters (D-Calif.) to discuss finance reform legislation.
CUNA Chief Economist Bill Hampel will be among panelists at a congressional discussion on plans to reform the secondary mortgage market.
Jerry Reed, chief lending officer from the $5.3 billion Alaska USA FCU, told lawmakers during a June 18 hearing on the Consumer Financial Protection Bureau’s qualified mortgage rule that products and product features were responsible for the mortgage market meltdown, not underwriting standards.
Lending officer to tell House panel on Tuesday that CFPB qualified mortgage rule severely restrict lending.