Underwriting

U.S. military veterans and active duty personnel have four mortgage industry participants looking to enhance their ability to take advantage of their benefits.

The Chicago-area lender, which at first was able to get the suit quashed, agreed to end the discrimination case by paying a $105,000 fine.

As part of the three-year agreement, the group will fund a $1.22 million scholarship fund to recruit minorities into the appraisal profession.

The 10-year Treasury yield, one of the mechanisms used to price 30-year fixed rate mortgages, is higher than where it was one week ago.

Unintended consequences of shifting the burden for title insurance to the lender could end up harming consumers, several observers said.

In a study posted weeks after it raised concerns about "junk fees," the Consumer Financial Protection Bureau noted that the amount of borrowers paying discount points doubled from 2021 to 2023, with the increase larger among consumers with lower credit scores.

The $12.1 billion-asset DCU launched the loan platform in 2022, and has seen volume jump by close to $600 million from when talks began in 2019 to last year.

A trio of Republican Congressmen stated they will investigate how the program got fast-tracked by the Biden Administration.

While some said the agency was ignorant of its own rules, one trade group praised the goals of the posting.

Regulatory reform – rather than Biden's proposed solutions – is needed to fix the inventory crisis, some say, but others applauded the president's buyer cost-cutting initiatives.