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“Two clicks or less” needs to become the mantra for the mortgage industry as it confronts the digital challenges that have kept it mired in the world of costly and cumbersome phone-based customer support, J.D. Power’s Jim Houston writes.

Morningstar Credit Ratings LLC let analysts make undisclosed adjustments that resulted in higher ratings of mortgage-backed securities for issuers that paid for the rating, the U.S. Securities and Exchange Commission said in a lawsuit against the rating agency.

The shrinking ranks of appraisers, combined with the record number of loan applications in 2020, created "the perfect storm between supply and demand," which inspired the new payment plan, Incenter's Mark Walser said.

Between the dip in refis and the approach of the spring buying season, mortgage lenders are likely to start paying a little more attention to the purchase market, which is less rate-sensitive.

The Arizona company will pay $1 billion for the parent of AmeriHome Mortgage, which manages a $99 billion mortgage servicing portfolio.

But distress could be compounded in a limited number of state and local areas that have been left out of the broader boom in the market, an Urban Institute report found.

While the Mortgage Bankers Association hailed the move, some experts say it could negatively impact housing inventory.

Despite CoreLogic’s recent agreement to be acquired by funds managed by Stone Point Capital and Insight Partners, CoStar increased its offer to $95.76 a share.

Both in terms of interest expense and the sheer cost of dealing with consumers, the mortgage industry is out hundreds of millions of dollars due to this unfunded mandate from Congress, analyst Chris Whalen says.

After they reopened on Tuesday, Treasury 10-year yields rose four basis points to touch 1.25% — the highest since last March — while the 30-year equivalent pushed above 2%.