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Nationally, prices jumped 19.2%, the fourth-biggest jump in data going back 35 years.

Wells Fargo won an early round in a lawsuit accusing the bank of running a predatory mortgage lending scheme in the Atlanta area before the 2008 financial crisis and continuing to discriminate against minorities for more than a decade afterward.

Securitization would have to see more cycles before the full effect of the COVID-19 pandemic becomes apparent, but loans backing multi-borrower SFRs show more sensitivity to rent collection disruptions.

A majority of housing experts also believe first-time homeownership should hit 2019 levels again within four years; however, a substantial number don’t expect it this decade.

An analysis of Home Mortgage Disclosure Act data reveals that banks continue to trail nonbanks in volume and another reveals that despite some improvement, inequities in lending to minority groups persist.

The Consumer Financial Protection Bureau will potentially be banning business practices, forcing the divestiture of business lines and working with state agencies to revoke licenses, Director Rohit Chopra said Monday. He called out five big banks by name for repeatedly crossing legal lines.

The permanent staff reductions appear to be concentrated in originations, where pretax income has been lower and outpaced by earnings generated by the servicing division, in line with broader industry trends.

The Secured Overnight Financing Rate is a concept in search of an actual forward market, writes Whalen.

As the effects of the pandemic continue to reshape the rhythms of the industry, mortgage lenders and brokers others predict a busy, competitive landscape but say more non-QM loans will fill volume gaps caused by low supply.

Wells Fargo will start letting customers earn points and miles on their rent payments as the banking giant deepens its push into credit cards.