Mortgage

House Passes ABA-Advocated Portfolio Lending Bill

By a bipartisan 255-174 vote, the House today passed H.R. 1210, which would designate all mortgage loans that institutions originate and hold in portfolio as Qualified Mortgages and thus subject to the safe harbor provisions of the Ability-to-Repay Rule.

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ABA, States Urge Support for QM Portfolio Bill

ABA and 53 state bankers associations today urged Congress to pass legislation (H.R. 1210) that would deem all mortgage loans that institutions originate and hold in portfolio as “qualified mortgages” for purposes of the ability-to-repay rule’s safe harbor provisions. The House is expected to vote on the bill this week. “Portfolio lending is among the most traditional and lowest risk ...

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ABA Endorses MortgagebotLOS for Loan Origination

ABA, through its Corporation for American Banking subsidiary, has endorsed the D+H’s mortgage loan origination system, MortgagebotLOS, an all-in-one system that supports retail, wholesale and correspondent mortgage lending.

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Fannie Mae Profits Down in Third Quarter

Fannie Mae today said that it earned net income of $2 billion in the third quarter. Like Freddie Mac’s report this week, Fannie’s profits fell year-on-year, landing well below the $3.9 billion earned in the third quarter of 2014. Fannie’s decline in profits was mainly due to derivatives losses, the GSE said. The company said it would make a $2.2 ...

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