Finance

The New York City-based lender, whose roots lie in taxi lending, believes an expanded home-improvement loan operation will generate mid-teen loan growth this year.

While the Freddie Mac survey recorded a weekly decline, the benchmark 10-year Treasury yield had moved back up by 6 basis points around midday on Thursday.

Some observers say changes to MSR risk-weighting would have limited near-term impact and are unlikely to prompt banks to rush back.

In a speech Tuesday, Federal Reserve Gov. Michael Barr said it was possible that artificial intelligence will boost productivity in an undisruptive way. But he said policymakers should also be wary of a financial crash if those gains are not realized or a rapid adoption that could lead to labor displacement.

Federal Reserve Chair nominee Kevin Warsh has several paths toward reducing the central bank's $6.6 trillion balance sheet but the process will be costly and lengthy, Wall Street strategists say.  

Fannie Mae and Freddie Mac will add loan-level buydown data to MBS this spring, giving investors clearer insight into prepayment risk tied to temporary rate incentives.

The Bureau of Labor Statistics released its January Consumer Price Index Friday, showing that inflation rose 0.2%, while the annual rate eased to 2.4% after holding at 2.7% for several months. The data reduces the likelihood that the Federal Reserve will cut interest rates in the near future. 

Point Digital Finance originated the underlying home equity contracts, composed of first lien (11.1%), primarily second-lien (82.9%) and third liens (5.81%) on residential properties.

A House subcommittee hearing discussing the future of the government-sponsored enterprises, noted both are still severely undercapitalized.

The company formerly known as Ocwen confirmed that a deferred tax asset valuation helped boost net income to common shareholders despite servicing challenges.

The multimillion-dollar acquisition boosts PennyMac Financial Services' total portfolio above $1 trillion and adds to a wave of industry consolidation.

The Federal Housing Finance Agency and Ginnie Mae agreed to look more closely at credit line use, according to the Government Accountability Office.

Adjustments related to higher credit risk weights for new acquisitions and rate shifts offset increases in the government-sponsored enterprise's core earnings.

Zillow Group Inc. forecast first-quarter profit that falls short of analyst estimates as the home-search site balances legal costs from ongoing litigation and expenses from the company's partnership with Redfin.

Federal Housing Finance Agency Director Bill Pulte said in a social media post that action was imminent amid Trump administration antitrust investigations.

As mortgage rates sank to near 6% in January, consumers looked to do rate-and-term refinances, while originators offered more ARMs and cash-out loans.

The rate impact has been real, but the capital implications do little to change all the "moving parts" in plans for the government-sponsored enterprises.

The letter claims the flood insurance premium pricing change has made the product unaffordable, resulting in a large drop off in the number of policies.

The lawsuit, which doesn't target UWM, accuses the REIT's CEO and board of directors of suspicious stock sales around the December announcement.

The FHFA chief told Fox an offering could be done near term - but may not be - while a Treasury official addressed conservatorship questions at an FSOC hearing.