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Tag Archives: Ability to Repay

Mortgage Fraud Risk Continues Downslide

Based on an analysis of loan applications passing through its own fraud detection technology, Interthinx said Tuesday that its national Mortgage Fraud Risk Index measured 98 in Q3 2014, down 2 percent from the quarter prior and 9 percent from the year-ago period.

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Nearly One-Third of Community Banks Cutting Mortgage Holdings

Out of 884 community bankers currently active in the mortgage space, 31 percent expect their institution's residential mortgage holdings at the end of the year will be less than their level last year, according to findings released by the Federal Reserve and the Conference of State Bank Supervisors. Of those who anticipate reductions in the dollar value of their mortgage holdings, most pointed to increased regulation and compliance costs at the reason.

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80% of Lenders Shy Away from Non-QM Business

In a follow-up piece on the company's inaugural Mortgage Lender Sentiment Survey, Li-Ning Huang, senior manager of Economic and Strategic Research at Fannie Mae, found that most of the lenders surveyed don't plan to change their current strategy in response to January's regulatory changes, with 46 percent saying they plan to "wait and see" what happens in the market before acting.

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CFPB Amends Mortgage Rules for Nonprofits

The Consumer Financial Protection Bureau (CFPB) announced Wednesday it is proposing “minor changes” to its mortgage rules to assist nonprofit organizations in getting loans to underserved communities. “Today’s proposal would maintain those strong protections, while making minor changes to ensure consumers have access to credit,” said CFPB Director Richard Cordray in a statement.

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