Two government-sponsored enterprises are looking into expanding mortgage transfers between borrowers, according to the head of their oversight agency.
As mortgage brokers gain market share, tensions over channel conflict resurface, pushing some lenders to rethink how they balance wholesale, retail, and correspondent lines.
Value adjustments to Guild's MSRs totaled a loss of $145.8 million, the nonbanks third quarter earnings show.
Rohit Chopra is named senior advisor to the Democratic Attorneys General Association's working group on consumer protection and affordability; Flagstar Bank adds additional wealth-planning capabilities to its private banking division; Chime promotes three members of its executive leadership team; and more in this week's banking news roundup.
The executive order described state legislation on artificial intelligence as a cumbersome patchwork, and pledged to develop a national framework.
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The credit score firm partnered with Plaid to bring additional cash-flow data into its previously released UltraFICO score.
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Reskilling and giving AI the boring work are two approaches banks take to making agentic AI palatable to workers who may fear that bots will take their jobs.
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Federal Reserve Gov. Lisa Cook, citing several studies, outlined her concerns Thursday that generative AI could be used to manipulate markets, and regulators have not yet thought through how to police such activity.
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Frank Cassidy, who is currently principal deputy assistant secretary at the Department of Housing and Urban Development, will soon face a full Senate vote.
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Even with this week's increase, mortgage rates have remained within a 13 basis point band since mid-September, with industry pundits saying that's where they will stay.
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The national median payment applied for by purchase applicants fell to $2,039 in October from September, the Mortgage Bankers Association said.
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Nonbank mortgage companies have traditionally been monoline or focused businesses, but in the current market they must create multiple revenue lines and strike a healthy balance between them to survive.
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A GSE exemption in the bureau’s “qualified mortgage” rule is set to sunset in 2021, and regulators should not try to extend it as some experts have suggested.
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Many young working people can't afford to buy their own homes and are looking for help from their parents, who in turn are getting squeezed financially.
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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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