Aug 28, 2:00pm While the volume of distressed loans insured by the Federal Housing Administration and Department of Veterans Affairs is down from its peak, the mortgages are no less complicated to service.
Reps. Ed Royce, R-Calif., and Earl Blumenauer, D-Ore., introduced a bipartisan package of legislation Tuesday to extend the National Flood Insurance Program through Nov. 30.
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As purchase mortgages continue to dominate overall industry volume, lenders aren't letting the extra work required to close these loans affect their productivity.
Mortgage banking revenue stemming from a year-to-year increase in rates weighed down noninterest income at U.S. Bancorp, but increased interest income from higher rates helped improve earnings overall.
Just before members were removed from the consumer advisory board last month, acting Director Mick Mulvaney signed an amended charter that would shrink the panel to six members.
Despite dipping in June, Central Texas home sales were up in the first half of the year over the first six months of 2017, likely putting the region's housing market on track for another record year.
New-home groundbreaking and permits fell in June to the slowest pace in nine months, as higher mortgage rates and elevated costs for labor and materials pinch the housing market.
