FHA loans accounted for about half of the annual rise in foreclosure starts and 80% of the rise in active foreclosures in September, according to ICE.
The reverse mortgage division reported a loss due to hedging costs but on a net basis the company proved profitable ahead of peak market disruption in April.
Benutech's former CEO will head Voxtur, which is selling a majority stake in Blue Water Finance Technologies and repositioning itself in real estate lending.
Of the 50 highest risk markets in the country, 16 reside in California, followed by New Jersey with nine, Attom found.
Gallego introduced legislation to amend the EB-5 immigrant investor visa program in order to funnel more money into the construction and rehabilitation of homes.
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Company leaders said current strategy sets it up to profit and compete against its rivals as the mortgage market improves in the coming months.
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The average price of a single-family home increased 1.7% from last year to $426,800 in the third quarter.
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Federal Reserve Gov. Christopher Waller said there was a popular "misunderstanding" Thursday regarding who can qualify for a "skinny" master account, noting that only firms with a bank charter would qualify for approval.
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New guidelines should provide homeownership opportunities for certain consumer segments with thin credit files and open up product options, lenders said.
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A new research report this week found AI could 'unlock' $370 billion in profits for banks, though they're not yet ready to capture it. But big-bank executives say they are already seeing measurable results from their generative and traditional AI investments.
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Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.
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The GSEs are on their way to paying back the money they owed the government under the original bailout deal made at the height of the financial crisis, making 2018 an opportune time for an overhaul of the housing finance market.
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The credit bureau enraged many with its response to a massive data breach this fall, but closing the company down would ultimately harm consumers.
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For decades, Fannie Mae and Freddie Mac helped working-class Americans get mortgages. That essential and powerful role in the national economy is fading.
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ON-DEMAND VIDEOMonetary policy remains the key to the markets. The Federal Open Market Committee predicts one rate cut in 2026, but the panel will get a lot of data before
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ON-DEMAND VIDEOWith the government reopened and data flowing, the FOMC may cut rates again in Dec. Steve Skancke, Chief Economic Advisor at Keel Point, will break down the mee
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ON-DEMAND VIDEOWill the Federal Reserve cut rates in October? BNP Paribas Chief U.S. Economist James Egelhof discusses the meeting and Chair Jerome Powell's press conference.
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