Digital Mortgage Direct Page

The majority of borrowers cite a national emergency declaration, but the share that do has been dropping as concerns about income, debt and unemployment creep up.

The government set forth five principles companies should follow when they use artificial intelligence. Chintan Mehta, CIO of strategy, digital and innovation at Wells Fargo, shares how one of the largest banks does it.

Brady Torgerson, former president of First Security Bank-West, was sentenced to two years in federal prison after pleading guilty to fraud at two banks.

But the company expects positive margins in the first quarter from Bay Equity Home Loans and increased cross-sell capture from real estate agents.

Indicators reflect declines in consumer expectations and factory orders that underscore risks of a recession. 

Single-family property sales ran at a seasonally adjusted annual rate of 725,000 units last month, a 13.1% increase from December.

The lender paid workers in commissions, and failed to provide a minimum wage over pay periods in which no loans were originated, counsel alleges.

The 51 basis point increase was inevitable after the late payment rate reached a record low in the third quarter, the Mortgage Bankers Association said.

Despite slowing originations, the shift to a purchase-oriented market contributed to growth, while outstanding HELOC amounts also surged to its largest in over a decade, the Federal Reserve Bank of New York found.

Investors are concerned that the Fed could raise rates 50 basis points at its next meeting and are pricing that risk into the 10-year Treasury.