National Mortgage News - June 2018

Anticipated changes to the qualified mortgage rule will give lenders more options and force them to rethink their views on risk.

Since its inception, the qualified mortgage rule has been synonymous with loans purchased by Fannie Mae and Freddie Mac or guaranteed by government agencies. But a broader QM definition could change that by creating more competitive private-label options.

The removal of costly appraisal requirements on tens of thousands of smaller commercial properties could help community banks better compete for loans they say they have been losing to nonbank lenders.

Capitol Federal Financial has mostly relied on mortgages throughout its history. Its acquisition of a commercial lender will change that.

In a bid to cut time and costs from the mortgage process, Fannie Mae is testing whether appraisers can accurately determine a home's value without actually visiting the property.

In its latest effort to reach first time home buyers, Freddie Mac is launching a new 3% down payment program that casts aside a number of restrictions in its existing low down payment offerings.

Preferred Bank's experience with an apartment developer is a reminder of how important strict underwriting terms will be as loan demand increases, rates rise and lenders try to outdo each other.

A special agent who used to work for an investigative arm of Immigration and Customs Enforcement pleaded guilty to defrauding Freddie Mac and SunTrust Mortgage through a short sale.

Late payments on single-family home mortgages improved on a consecutive quarter basis as more recovery from Hurricanes Harvey and Irma took hold, but more potential loan performance concerns lie ahead.

Leader Bank says it can land property managers as commercial clients by helping them handle tenant deposits — and possibly create opportunities to boost CRE lending.

Lenda, launched in 2014, currently makes mortgages start to finish in two weeks. But it's aiming to make it a process that can be finished on a borrower's lunch break.

Banking and mortgage groups are asking the Federal Communications Commission to issue new Telephone Consumer Protection Act rules that would make consumer lawsuits over robocalls harder to win.

The administration is prolonging a decision on a permanent director for the agency to keep the interim chief in place until year-end or longer.

Automating the mortgage process will force tighter margins, but drive higher volume, for lenders.

A Department of Labor pilot program will let mortgage lenders and other businesses resolve wage and hour liabilities without exposing themselves to additional Fair Labor Standards Act risks.

Mortgage industry hiring and new job appointments for the week ending June 1.

Here's a look at 12 cities where median home prices are under $200,000 and the combination of local wages and interest rates offer buyers the most purchasing power.