Finance

Ahead of this week's Federal Open Market Committee meeting, where it is expected to enact another large rate hike, 11 lawmakers sent a letter to the central bank, urging it not to go too far.

They have a range of positions in the mortgage market; and some investors believe they could be bought at a discount now, potentially gaining value later when interest rate stability returns.

The company said its mortgage subsidiary has pro forma compliance with the pending risk-based capital requirements that other entities claim are difficult to meet.

The closure of its nationwide retail business — which followed the shuttering of its consumer direct business in Q2 — pushed the Florida bank into a $1.4 million loss for the most recent quarter.

Some 2.9% of the pool—comprised of 1,705 loans—was 30 days delinquent, and 68.3% of the loans had experienced one or more delinquencies in the past 24 months.

Earnings from the real estate investment trust, which primarily invests in agency securitizations, highlight some defensive strategies that proved effective in mitigating risks, but also point to current revenue challenges.

Eighteen months after the $2.6 billion deal was announced — and five days before the Oct. 31 deadline — New York Community is still waiting for regulatory approval to buy the Michigan bank. On their joint earnings call, the companies wouldn't say where the deal stands.

The company is positioning itself for further challenges in the mortgage cycle, and considering MSR buying opportunities while keeping in mind that it needs to be cautious about its capital allocations.

Mortgage experts generally expect the switch to open up lending and potentially improve the predictability of loan performance — but some are worried about potential costs.

Multiple mortgage real-estate investment trusts have warned that market movements would hurt their third quarter numbers.

The new automation, which processes information on tens of thousands of projects, is designed to be useful to lenders financing single family units.

The government agency, an arm of the Department of Housing and Urban Development, plans to implement the change by no later than the first quarter of 2023.

The New York-based software provider will provide post-closing quality control and quality assurance reviews.

In a week where homebuilding stocks were faced with surging U.S. Treasury yields and data showing weakening demand for homes, one analyst is throwing in the towel on the sector.

That's left mortgage servicing rights investors with fewer concerns about runoff, but buyers have less in the way of recapture opportunities.

The mortgage subsidiary of PlainsCapital Bank also said it had reduced its headcount by 23% in the past year.

The delay acknowledges concerns some companies and trade groups have had about compliance with the requirement.

The government guarantor's securitization platform went offline on October 19 and will reemerge on October 25.

The automation provider, which could merge with ICE Mortgage next year, is updating secondary market tools sorely needed in a volatile market.

The new product will be based on a recent revision to the Department of Veterans Affairs' handbook for lenders, according to the company.