Federal Reserve Vice Chair Philip Jefferson said Friday that the economic outlook is uncertain and that he was adopting a cautious approach to gauging whether slowing growth and a softening labor market outweigh inflation pressures from tariffs.
After two consecutive quarters of profits, independent mortgage bankers lost money in the most recent period, for the ninth time in the last three years.
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
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The housing agency director also announced plans to donate his salary to help wounded veterans as CHLA and ICBA push for the enterprises to resume MBS buying.
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The NRMLA/Riskspan Reverse Mortgage Market Index set a new high of 502.42, with the dollar amount of home equity for those 62 or over reaching $14.4 trillion.
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Stenger joins the Chicago-based lender after more than a decade at Movement Mortgage and will oversee its retail platform, including new tech enhancements.
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The lender, which reported over $200 million in home equity line of credit volume in the recent quarter, suggests the business can deliver massive scale.
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Regulators are nearing a key step in overhauling credit scoring as the MBA touts its influence on GSE policy and close alignment with Washington leaders.
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Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.
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Lenders asking whether bank loans are safe are missing the point and should instead be more concerned with the standard they apply when underwriting them.
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Condominium associations cannot afford to take on the potential legal risk that reporting delinquent borrowers to the credit bureaus would bring.
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Necessity, as they say, is the mother of invention. Unfortunately, it's taken years of widespread regulatory upheaval for mortgage servicing to find it necessary to start thinking about technology innovation.
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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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