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If you're a movie buff, you'll remember this question repeatedly and famously delivered by Laurence Olivier's character in the 1976 movie Marathon Man, as he performs 'exploratory' dental surgery on [...]

On Dec. 15, the Department of Housing and Urban Development announced it was publishing a proposed rule in the Federal Register to set minimum standards that the states must follow [...]

A common technology may offer a new strategy to increase efficiencies By May 1994, the Mortgage Bankers Association and an interagency work group hope to unveil a set of standards [...]

Institutions like the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp set unrealistic qualifications for mortgages to minorities, thereby contributing to a general bias among lending institutions. Banks are inclined to follow the lead of these institutions in setting their loan qualifications, and the result is a greater rejection rate., Agencies' Rules Contribute to Mortgage Bias Based on a review of 5.3 million mortgage applications received by some 9,300 banks and other lenders, a study commissioned by the Federal Reserve [...]

The Mortgage Bankers Association is urging Congress to establish uniform mortgage lending standards that would be enforced by a new federal regulatory agency to better protect consumers. MBA has proposed [...]

AGENCIES ARE OPEN TO MORE AFFORDABLE HOUSING LOAN DEALS Affordable housing programs are facing the same acid test that lenders apply to all lending programs: Can the loans be sold [...]

While technically not a 'new technology', the Lending Industry XML Initiative (LIXI) is leading the way in introducing standards to improve efficiencies in the mortgage sector. E-Commerce standards have been [...]

The author discusses that failures in the subprime mortgage market could cause crisis in larger financial institutions, tightening lending standard across the board.

Sesame's new mortgage offering has come in for heavy criticism from some of its leading rivals. The company allows brokers to choose between Mortgage Select, with a small panel of […]

Leading IFAs are calling for the FSA to tighten the rules on the methods used by providers to calculate mortgage endowment statements, claiming the current array of methods are resulting […]

Where a borrower lives can make a big difference to how early they can pay off an offset mortgage, according to telenet bank Intelligent Finance IF says if money were […]

The majority of the public. believe borrowers receive a fair deal when taking out a mortgage as a result of the mortgage code, according to new consumer research by the […]

Nationwide Building Society is calling for the Government to make Cat standards compulsory for mortgages sold to "vulnerable" buyers or without advice, including internet sales. Its response to the Treasury's […]

Some home-mortgage lenders are tightening the conditions under which they will make loans in Santa Clara County, spooked by the rapid rise in home prices in the late 1990s and [...]

An activist group is accusing the FHA program of letting lenders make government-guaranteed mortgages in minority communities without regard for the creditworthiness of borrowers. In a study being presented today [...]

The Federal Home Loan Mortgage Corp. (Freddie Mac) has stated that it would not raise its loan ceiling for 1997 without accounting for the decline in home prices. Freddie Mac's decision is designed to avert a Congressional investigation into whether it and its sister institution, the Federal National Mortgage Assn., are deliberately encroaching on banks and thrifts in underwriting mortgage loans., Sidestepping a confrontation with Congress, Freddie Mac Chairman Leland Brendsel said his agency would adjust for declines in home prices in 1993 and 1994 before raising its loan ceiling next [...]

All Federal Home Loan bank borrowers would have to document their support of first-time homebuyers, under a rule to be proposed Thursday by the Federal Housing Finance Board. Bank and [...]

GE Capital Mortgage Corp. is marketing a mortgage scoring system that draws comparisons from a data base of more than one million loans. The GE unit said the system, called [...]

A credit scoring test conducted by Standard & Poor's found that about a third of mortgage applicants classified as A-minus or lower through traditional underwriting -and thus ineligible for loans [...]

Reps. Rick Lazio and Richard H. Baker are fighting plans by the Federal Home Loan Mortgage Corp. to raise the limit for its individual loans to $207,000 in 1996. The agency wants to increase the limit from $203,150 to allow customers the opportunity to borrow more money, but Lazio and Baker appear to believe that the program is taking market share away from thrifts. They may have been swayed by a letter from the Western League of Savings asking them to oppose the increase., Two key members of the House Banking Committee are threatening congressional action if Freddie Mac does not reverse its decision to raise its individual-loan limit to $207,000 for 1996. The [...]

The Federal National Mortgage Assn (Fannie Mae) has informed lenders of its plans to increase its use of credit scoring as a mortgage underwriting technique. Lenders could eventually be required to use the technique, which involves the use of historical models to determine a single-number creditworthiness indicator. It is widely agreed that credit scoring can improve underwriting., The use of credit scoring will soon become standard operating procedure in the mortgage industry unless political intervention derails it. In a letter to all its lenders last week, the [...]

Home lending organizations have created a corporation in Delaware that will manage the Mortgage Electronic Registration System (MERS). MERS is intended to act as a utility owned by industry participants for the electronic registration of mortgages and will be operational by early 1997. The electronic registry will track ownership of mortgages after loans are closed and will authorize mortgage identification numbers in an effort to reduce fraud., A consortium of home lending groups has set up a Delaware corporation to manage the long-anticipated Mortgage Electronic Registration System and aims to have it up and running by first [...]

Moving to' standardize the quality of jumbo home mortgage loans, GE Capital Mortgage Corp., Raleigh, N.C., introduced an underwriting system at the National Secondary Conference in New York last week. [...]

WASHINGTON -- Freddie Mac, worried about declining credit quality, has tightened its rules on balloon mortgages. It also clamped down further on adjustable-rate loans. Adjusting the Adjustables Freddie Mac is [...]

PIPELINE As expected, the Financial Accounting Standards Board has decided to issue a proposal to change its FAS 65, the rule that requires capitalization of purchased mortgage servicing rights. The [...]