Origination

Bond investors who were once convinced that the Federal Reserve would start cutting interest rates this week are painfully surrendering to a higher-for-longer reality and a murky path forward for the market.

Listings of existing homes rose 12% in February compared with a year earlier, and one in five of them are seeing price cuts, according to Zillow Group Inc. 

An unnamed hacker in December "potentially removed" sensitive consumer data including Social Security numbers from the wholesale lender.

Combining the two property preservation firms brings specialized technology and capabilities that Five Brothers has to MCS and broadens the operations of both.

The increase in production revenues was canceled out by higher expenses, a sign that too much capacity remains in the system, the Mortgage Bankers Association said.

Some potential sellers are realizing that waiting for lower rates might not be worth it given the amount of equity they have, Zillow said.

While prices for concrete, steel and gypsum products all increased, softwood lumber declined, the National Association of Home Builders said.

Cost of property coverage rose more than 55% over the last five years and it'll likely keep rising through 2024, a report from Guaranteed Rate found.

The troubled Long Island-based lender laid out steps that it's taking to improve its loan-review process. The remediation efforts follow a massive loan provision last quarter, which led to a management shake-up and a $1 billion rescue led by former Treasury Secretary Steven Mnuchin.

The average 30-year fixed mortgage rate for conforming loans fell, according to Freddie Mac, even as the 10-year Treasury yield rose nearly 18 basis points from the start of this week.