Finance

Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.

Greater availability of data can make it more attractive to buy MBS with loans to underserved borrowers, translating into lower interest rates for those mortgages.

The two major government-related mortgage buyers' clarifications on real estate commissions take a path similar to that of the Federal Housing Administration.

The move advances the Biden administration's interest in testing whether skipping a title insurance policy or an alternative for some mortgages would be a cost-saver.

Sonu Mittal reflects on how technology can improve fraud prevention and Freddie Mac's efforts help make loans safer and less expensive .

Home loan originations were tepid in the first quarter, but higher margins helped large depositories bolster income even when the drop was particularly steep.

Citigroup's earnings topped analysts' estimates as corporations tapped markets for financing and consumers leaned on credit cards.

The company reported net interest income that slightly missed analyst estimates, a sign the benefit of higher interest rates may be waning amid pressure to pay out more to depositors. Costs rose on higher compensation and an FDIC assessment.

The Department of Housing and Urban Development agency warned in an online notice that issuers with prepayments exceeding certain limits could face sanctions.

Omnichannel mortgage originators were able to grow their market share as singularly focused firms had to retrench, Morningstar DBRS said in a report.

With high deposit and borrowing costs persisting amid the Federal Reserve's campaign against inflation, lenders face stress on their net interest margins and the potential of troubled loans ticking up.

KBRA recently assigned low-end investment grade designations to Freedom Mortgage and Pennymac transactions that involve interests in Ginnie Mae mortgage servicing rights.

The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.

Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.

UWM kicked off the new year as the number one lender in the U.S. in overall and wholesale production as well as purchase mortgage originations, but it has not been all smooth sailing.

The board has reduced some aspects of Rithm CEO Michael Nierenberg's pay, but also significantly raised the performance-based component.

A trio of Republican Congressmen stated they will investigate how the program got fast-tracked by the Biden Administration.