Mortgage

Mortgage applications increased 4.6 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 27, 2015. The Market Composite Index, a measure of mortgage loan application volume, increased 4.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 5 percent compared with the previous week. The Refinance Index increased 4 percent from the previous week.

The House Financial Services Committee today approved 11 bipartisan bills designed to help strengthen the economy and consumer choice by relieving community banks and credit unions from some of the harmful regulatory burden imposed by Washington

U.S. District Judge George J. Hazel sentenced Edgar Tibakweitira, a/k/a “Edgar Julian,” “Charles Edgar Tibakweitira,” and “Edgar Gaudious Tibakweitira,” age 46, of Severn, Maryland, today to 57 months in prison, followed by five years of supervised release, for conspiracy to commit wire fraud and aggravated identity theft, arising from a residential mortgage fraud scheme. Judge Hazel also ordered Tibakweitira to pay restitution of $2,482,856.05.

Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $744 on each loan they originated in the fourth quarter of 2014, down from a reported gain of $897 per loan in the third quarter of 2014, the Mortgage Bankers Association (MBA) reported today in its Quarterly Mortgage Bankers Performance Report

Achieving Financial Resilience: In a special four-part feature, AARP Bulletin offers a comprehensive guide to reaching financial independence and security, including a one-on-one interview with President Obama about retirement. With in-depth features on how to protect your retirement, tune up your 401(k) and IRA, ways to get great investment advice, and how to reach your money goals in just 10 steps, the April issue of AARP Bulletin offers inspiring advice from fiscal experts to help you hang onto your hard-earned money and make it last.

The Independent Community Bankers of America® (ICBA) expressed its strong support for the Consumer Financial Protection Bureau’s proposed reforms to its Qualified Mortgage rules.

In a letter dated March 30, 2015, John Councilman, President of the National Association of Mortgage Brokers, called on President Barack Obama to update his speech material to reflect the current realities of the mortgage business, particularly with respect to individual mortgage professionals and the role of the CFPB.

The performance of first-lien mortgages serviced by eight national banks improved in the fourth quarter of 2014, according to the Office of the Comptroller of the Currency’s (OCC) quarterly report on mortgage performance.

David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), issued the following statement on the transition of Ed Golding to be Principal Deputy Assistant Secretary at the U.S. Department of Housing and Urban Development (HUD)

The National Low Income Housing Coalition and the United for Homes Campaign applaud Congressman Keith Ellison (D-MN) for his Common Sense Housing Investment Act of 2015, H.R. 1662, which he introduced in the U.S. House of Representatives today

The Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) today issued for public comment Proposed Regulatory Prudential Standards for Non-bank Mortgage Servicers.

MetLife Home Loans LLC has agreed to pay the United States $123.5 million to resolve allegations that MetLife Bank N.A. (MetLife Bank) violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) that did not meet applicable requirements, the Justice Department announced today

Mortgage applications increased 9.5 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 20, 2015

NAMB—The Association of Mortgage Professionals hosted its First Annual Wholesale Summit last week in Orlando, Fla. The event allowed NAMB leadership to sit down at the same table with representatives of more than a dozen of the nation’s top wholesale lenders and a compliance company to discuss how wholesale lenders can grow market share and explore marketing, compliance and profitability issues facing wholesalers and mortgage originators

Bellwether Enterprise Real Estate Capital LLC (Bellwether Enterprise), the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc. (Enterprise), today announced that it has expanded its affordable housing business by establishing a group dedicated to providing flexible financing resources to affordable, multifamily clients across the United States. With 18 Bellwether Enterprise offices located throughout the country, the Affordable Housing Group will leverage the firm’s existing, nationwide lending platform.

The NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI) rose in the fourth quarter by 1.5 percent to 186.78, its highest level since Q2 2007. The $59.1 billion increase in senior home equity in the fourth quarter was fueled by an estimated $61.3 billion increase in the aggregate value of senior housing, offset by a $2.2 billion increase in senior-held mortgage debt

David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA) issued the following statement in response to the release of federal housing reform legislation by Representatives John K. Delaney, John Carney, and Jim Himes

The Mortgage Bankers Association (MBA) today released its annual ranking of commercial/multifamily mortgage firms by origination volume. The MBA study is the only one of its kind to present a comprehensive set of listings of 127 different commercial/multifamily mortgage originators, their 2014 volumes and the different roles they play.

 Mortgage applications decreased 3.9 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 13, 2015.

Total commercial/multifamily debt outstanding stood at $2.64 trillion in the fourth quarter of 2014, an increase of $48.9 billion, or 1.9 percent, over the third quarter, according to data collected by the Mortgage Bankers Association (MBA). Commercial/multifamily debt outstanding increased at the highest rate since the fourth quarter of 2007, as three of the four major investor groups increased their holdings in the fourth quarter.