Finance

Bondholders could see principal losses if, due to the way the documents are worded, the rate is frozen at the last published amount.

The central bank said it would keep interest rates at current levels through at least to help the U.S. economy recover from the coronavirus pandemic.

Congress should pass legislation that would allow Home Loan banks to backstop deposits by local governments at commercial banks and lower the cost of bond financing, two mayors argue.

The deal brings yet another mortgage origination component under the same roof.

A new report on bank-held commercial real estate and C&I loans indicates troubled borrowers may be skipping payments on loans they won't be able to refinance or extend over the next year, leading to a potential wave of defaults over the next four to six quarters.

Electronic notes did come in handy this year given the mortgage industry's need to operate remotely, but they also increase the government-sponsored enterprises' responsibility for monitoring the risk of multiple counterparties.

After being approved, retroactively denied and having a second application rejected, the firm is appealing the decision with federal regulators.

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut.

Also the Federal Housing Administration, which is a key contributor of government-insured loans to Ginnie securitizations, recently set new conditions on mortgage applicants that have been in forbearance.

Even though second-quarter originations were nearly double the same period in 2019, most were refinancings, which generate less revenue for title companies.

The GSEs began sharing their risk with the private market in new ways during conservatorship, and the Federal Housing Finance Agency’s proposed capital framework currently discourages the use of those strategies. Industry leaders voiced concerns in a FHFA listening session this week.

That, along with continued high refinance volume over the next three months, keeps originators' profit forecasts elevated, Fannie Mae said.

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.

Uncertainties in the job market drove mortgage credit availability down again, falling to the lowest point since March 2014, according to the Mortgage Bankers Association.

Some of the cures were the result of short-term remedies and could reverse as relief measures end.

Nearly half of the second-quarter volume came from its existing customers.

The pandemic drives home the point that without those funds being siphoned off, the recent fee hikes would not be necessary.

This proposed Libor replacement is an imaginary, backward-looking benchmark dreamed up by the economists at the Fed with no discernible market.

Following its deadline for written comments on the topic last month, the Federal Housing Finance Agency is scheduling events that will focus on two key themes emerging in responses.

Cannae and Senator said they are looking to stop CoreLogic from unilaterally cancelling a vote on changing the members of its board.