President Trump has nominated Stuart Levenbach, associate director of the Office of Management and Budget, to be the director of the Consumer Financial Protection Bureau. His selection allows acting CFPB Director Russell Vought to remain in place for at least another 210 days.
The mortgage company, even though it is owned by a bank, has been profitable for the last two years, when considering its originations operations, as it does.
The government-sponsored enterprise's bottom line results, like Fannie Mae's, came in above the previous quarter's but below year-ago numbers.
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The average loss from the two categories is almost seven times higher than the mean amount for all other types, according to research from ALTA and Milliman.
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Independent mortgage bankers were in the black for each loan originated during the third quarter, as low rates brought an application surge in September.
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Continuing claims, a proxy for the number of people receiving benefits, came in at 1.957 million, up slightly from 1.947 million in the prior week.
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In November, 41% of builders reported cutting prices, a record in the post-Covid period, according to Tuesday's report. More broadly, 65% reported using sales incentives, unchanged from the prior two months.
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The Structured Finance Association is adding its weight to recent support for a Securities and Exchange Commission action that could modernize Reg AB II.
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Two heavyweights in the US residential real estate market, Compass Inc. and Zillow Inc., will face off in a New York courtroom this week in a legal battle that could reshape the future of how homes are marketed and sold in the country.
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Pushing back on critics, VantageScore's Chief Strategist and Chief Economist says VantageScore 4.0 boosts competition and predicts risk better than FICO.
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Allowing the same three companies to control both credit scoring and credit reporting removes one significant check on manipulation or distortion of consumer data, writes the Director of Consumer Reporting and Data Advocacy at the National Consumer Law Center.
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FHFA's surprise approval of VantageScore 4.0 raises concerns over data, implementation hurdles, and the politicized push to reform mortgage credit scoring, writes the Chairman of Whalen Global Advisors.
As home lending sees some of the lowest volumes in decades, the mortgage industry seeks to tap into emerging trends and ideas that will draw in future waves of clients.
Financial services firms are focusing on essential risk-related priorities, but must not lose sight of the importance of innovative technologies that drive business forward.
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ON-DEMAND VIDEOGary Quinzel, vice president of portfolio consulting at Wealth Enhancement Group, gives his views about monetary policy and offers his opinion on the FOMC statement and Fed Chair Jerome Powell's press conference.
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ON-DEMAND VIDEOEscalating unaffordability is not the only issue originators face. How can lenders support their loan officers, and navigate the numerous challenges in the today's housing market?
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ON-DEMAND VIDEOBetter's new COO Chad Smith, a seasoned veteran in home lending, discusses the strategies of the savviest mortgage professionals operating today and how his company is evolving in an unpredictable market.
