Finance

The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.

The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.

The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.

The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.

The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.

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.