Origination

Chicago businessman David Izsak grifted several financial institutions out of $4 million by taking out phony home loans and other types of credit.

The so-called core personal consumption expenditures price index barely rose in November and trailed policymakers' 2% target by one measure, reinforcing the central bank's pivot toward interest-rate cuts next year.

Money has been squeezed out of the market by central banks fighting to get an inflation surge under control. That's made borrowing more expensive for governments, corporates and consumers, and could keep denting spending well into next year.

Purchases of new single-family homes decreased 12.2% to a 590,000 annual pace last month, a one-year low, government figures showed Friday.

Freedom Mortgage and UWM are looking to beef up their headcount, as the Fed signals interest rates will drop.

Median homes in the top three cities in this ranking are being sold on average 12 days faster than the year before.

The credit grader lowered Brookfield Property's score by two steps to BB from BBB-, the lowest level of investment grade, and the rating remains on negative outlook.

The title company was also attacked in 2019 and joins Fidelity National and Mr. Cooper among recent victims.

Recent pullbacks in interest rates have lowered monthly payments, but amounts needed still make home buying unaffordable by most standards, according to new reports.

Rates that have been below 7% for two consecutive weeks have given originators a gift at what's typically a slow time of year, Freddie Mac said.