Two government-sponsored enterprises are looking into expanding mortgage transfers between borrowers, according to the head of their oversight agency.
All five publicly traded title insurance companies reported a year-over-year increase in earnings during the third quarter, but only two had higher orders.
The 30-year fixed-rate mortgage rose five basis points from last week to 6.22%, while the 15-year rate increased nine basis points to 5.50%
A 50-year mortgage on a median-priced US home could reduce borrower's monthly repayment, but also double the amount of interest the owner pays over the life of the loan, according to UBS Group AG analysts.
The impacts of the federal government shutdown are hitting both originators and servicers, and as things drag out, the disruptions will increase.
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The Department of Justice told a court that the Consumer Financial Protection Bureau cannot legally request funding from the Federal Reserve System, arguing that the Fed has not turned a profit since 2022 and thus cannot fund the CFPB.
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President Donald Trump downplayed criticism of the potential creation of a 50-year mortgage product, saying it would help more Americans afford monthly payments on homes.
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The wholesale giant hasn't endured setbacks in litigation against five brokerages it's accused of selling loans to rivals Rocket Cos. and Fairway Independent Mortgage.
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Federal Reserve Governor Stephen Miran said emerging stresses in housing and private credit markets warrant a reduction to short-term interest rates. While preferring a 50 basis point cut in December, Miran said he would settle for a 25 basis point reduction.
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The bill would provide pay for furloughed government workers, resume withheld federal payments to states and localities and recall agency employees who were laid off during the shutdown.
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Third-quarter mortgage earnings revealed swings in profitability, but the real story, according to the Chairman of Whalen Global Advisors, is that hedging MSRs is unnecessary for well-managed lenders.
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Mortgage groups want GSEs to buy MBS to lower rates, but the Chairman of Whalen Global Advisors writes that the plan is risky, unnecessary, and poorly timed.
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Several claims in a recent Loan Think column misrepresented how credit scores and resellers work in mortgage lending, according to the president of the National Consumer Reporting Association.
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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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ON-DEMAND VIDEOThe mortgage regulatory environment is constantly in flux. Join Firstline Compliance's Josh Weinberg as he discusses how technology can address lender concerns.
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ON-DEMAND VIDEOHow did Pennymac grow into a leading TPO player? Wholesale chief Kim Nichols describes the lender's rapid rise, and weighs in on the impact of trigger leads, LO
