Bloomberg: Lenders Loosen Mortgage Standards

More U.S. banks are loosening home-loan standards than seen in the last two decades, Bloomberg News reports.  In the Federal Reserve’s July survey of senior loan officers released last week, the net percentage of domestic banks tightening standards for net prime mortgages was negative 18.3%, the most loosening since the Fed started asking the question […]

CFPB Rules Place Drag on Mortgage Lending Nationwide

Recent regulation enacted by the Consumer Financial Protection Bureau (CFPB) has reduced approval rates on applications for some types of loans and mortgages, according to the Federal Reserve Board’s latest opinion survey on bank lending practices.  While a small fraction of large banks indicated in the survey that the Ability-to-Repay and Qualified Mortgage Standards under […]

Zillow to Acquire Trulia in $3.5 Billion Deal

Two major players in the online real estate listings market are joining forces to expand their reach through a real estate mega merger. Zillow, Inc. (NASDAQ: Z) has announced an agreement to acquire Trulia, Inc. (NYSE: TRLA) for $3.5 billion in a stock-for-stock transaction expected to close in 2015. Last month, Zillow reported 83 million […]

Friday Round-Up: BNY Mellon Gets into Reverse, AAG Releases New Product

In case you missed it, here’s what happened in reverse mortgage news this week: CBS MoneyWatch: Reverse Mortgages May Be Set to Boom—CBS MoneyWatch featured an impartial perspective on reverse mortgages, highlighting both the pros and cons of taking out these types of loans, with one interviewee anticipating their growing popularity in the months and […]

WSJ: Wells Fargo Restructures HELOC Loan Offering

Wells Fargo (NYSE: WFC) will no longer offer customers interest-only versions of its home-equity line of credit, pushing for what a company executive calls “a more responsible product,” according to a report by The Wall Street Journal.  “The product should be designed to protect the consumer for the long term,” Brad Blackwell, a mortgage executive […]

RMF Suspends HECM Choice Reverse Mortgage

Reverse Mortgage Funding LLC (RMF) announced Monday that is has suspended HECM Choice from its product suite, citing recent guidance published by Ginnie Mae in April of this year as driving the decision. According to a notice sent to lending partners, RMF says its decision to pull the fixed-rate loan was also influenced by the […]

EquityKey Rolls out New Home Price Appreciation Product

EquityKey, which formerly offered a product that allowed homeowners to sell their future home appreciation has revamped its product for rollout into the market. The company is back online with new funding partners, allowing homeowners with at least 35% equity to receive between 6% and 17% of a property’s current appraised value in exchange for […]