A critical U.S. cybersecurity law sunsets Sept. 30, and banks say losing it would weaken defenses against hackers.
The median monthly payment amount for new purchases moved higher for the first time in six months, according to the Mortgage Bankers Association.
The Federal Housing Finance Agency also is offering more opportunities for public dialogue as stakeholders debate how fast the process should move forward.
Most of the pool of 1,011 residential mortgages, 69.7%, are considered non-prime mortgages, primarily due to the documentation and styles of underwriting.
The agreement, if approved by a federal judge, would end litigation over two distinct cybersecurity incidents in 2021 which affected over 2 million customers.
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The sudden drop in long-end rates volatility was attributed to investors unwinding positions they used to hedge trades in mortgage-backed securities.
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There's a 13-percentage-point differential in the use of "advanced" mortgage fraud detection tools between banks and non-banks, with costs as a major reason why.
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The move will lead the New Jersey-based bank to eliminate over 100 employees, primarily within its mortgage lending operations, according to a state filing.
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The Supreme Court will hear a case in December that could overturn a longstanding precedent bolstering regulatory independence. Should the court strike down that precedent, it could have major implications for the independence of the Federal Reserve.
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The bipartisan bill, previously brought up in Congress' lame duck session, got the Mortgage Bankers Association and Broker Action Coalition's support.
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Shares of the online mortgage company known as Better rose, triggering multiple halts for volatility. They've gained more than 450% so far this year.
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Access to credit is too tight. New credit-scoring models could increase the number of eligible borrowers in the U.S. without weakening todays underwriting parameters.
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Throwing bodies at TRID implementation won't solve problems. Using technology to automate origination processes can help rein in costs and maintain compliance.
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Alternative data used to score "credit invisibles" may do more harm than good. That's because in areas like employment and insurance, no credit score is often better than a bad one
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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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