Unlike the risky subprime mortgages before the financial crisis, these new products have stricter regulations and are under a different name.
If finalized, the new rules would increase the number of financial institutions able to offer certain types of mortgages in rural and underserved areas.
Five-star Lender Impac Mortgage Holdings Inc. has signed an agreement to acquire the mortgage origination business of one of the largest residential mortgage originators in the U.S.
The mortgage industry has had a busy year in 2014, from celebrities committing fraud, big-named lenders paying major fines, to the bevy of regulation changes, here are the stories that received the most clicks on MPAMag.com.
Five-star Lender Impac Mortgage is currently in negotiations to acquire the mortgage origination business of a leading mortgage originator, according to a recent SEC filing.
However, the QM rule is continuing to dog lenders, overlays, documentation and DTI were the largest headwinds to the market, according to a survey conducted by NAR.