Federal Reserve Gov. Michael Barr — who recently stepped down as the central bank's vice chair for supervision — urged banks and regulators to use emerging technologies to keep pace with bad actors.
Its Encompass Lending unit will move into Austin as well as add to its Dallas-Fort Worth presence.
The total number of loans in this category dropped 11 basis points from week to week according to the Mortgage Bankers Association. Meanwhile, the amount of unpaid balance in forbearance dropped almost 23% since the start of the year, a separate report from Black Knight found.
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The Federal Reserve chair said he made no commitments on the central bank's next monetary policy adjustment, only that the decision would be made based on incoming data.
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Elon Musk, formerly head of the Department of Government Efficiency, said he will officially leave the federal government after a short but tumultuous tenure. DOGE's actions at the Consumer Financial Protection Bureau are being reviewed in federal court.
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However, the 30-year fixed rate mortgage is still 14 basis points lower than it was for the same week last year, the Freddie Mac survey reported.
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Pending sales of previously owned US homes last month fell by the most since September 2022, illustrating a disappointing spring selling season as prospective buyers balk at high asking prices and borrowing costs.
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Analysts awaiting specifics on the "implicit guarantee" for Fannie Mae and Freddie Mac are split on whether mortgage rates and guarantee fees could rise.
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While overall investor purchase activity is returning to pre-pandemic norms, interest in condo units dropped to a 10-year low, as insurance and fees surged.
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We're hearing while some think adjustable-rate mortgages have been making a comeback, there are some differences in opinions.
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Dont ever stop marketing because you think youve reached the point where you dont need to.
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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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