A regulation requiring nonbanks to report violations of local and state orders to federal offices was redundant and offered no benefit, mortgage leaders said.
The Mortgage Bankers Association latest forecast reflects the industry's current views on where their business is going, said Mike Fratantoni.
Ginnie Mae had tried to slow the pace of Texas Capital Bank's case and move it to a different court but the judge rejected its legal arguments for doing so.
Manufactured housing could see eased lending rules if the defense bill removes the "permanent chassis" requirement, expanding FHA mortgage eligibility.
Alphonso David is a civil rights attorney and the president and CEO of the Global Black Economic Forum.
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Rate-and-term refinances dropped 14% month over month in October, but were still up 143% from last year.
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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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Recent merger activity also includes the purchase of an Alabama title company by technology firm Propy, as experts see ongoing consolidation through 2026.
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While all six companies were profitable in the third quarter, most had earnings which were down from the prior periods, with MGIC setting a milestone.
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Two government-sponsored enterprises are looking into expanding mortgage transfers between borrowers, according to the head of their oversight agency.
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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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News that the GSEs need an infusion from Treasury to cover quarterly losses underscores problems with the government’s 2012 decision to “sweep” the housing giants’ profits.
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As policymakers take another crack at housing finance reform, federal leaders and the housing lobby are once again perpetuating the false notion that ending government guarantees would cause the 30-year, fixed-rate mortgage to vanish.
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Community banks and consumer advocates are clashing over a provision in the Senate banking bill on mortgage data reporting, but there’s been little vetting of what the measure would actually do.
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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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