Origination

Benefits under the Servicemembers Civil Relief Act were applied to fewer than 10% of auto loans for active-duty reserve members, the agency found. It urged financial institutions to ease the process for accessing the law's interest rate protections.

The depository joins other mortgage players small and large in exiting the space amid the market's significantly reduced activity.

A new state study suggests that mortgage lenders are putting up barriers to home ownership among people of color.

Following peaking at 7.08% on Nov. 10, the 30-year fixed has come down three-quarters of a percentage point, Freddie Mac said.

Lenders added jumbo and adjustable rate mortgage products during November, both of which have had lower interest rates than conforming loans, the Mortgage Bankers Association said.

The deal will close for $10 million in cash, plus the right to purchase nearly 33.9 million shares of common stock.

The mortgage company, despite its nonpayment, still had its logo on a stock car and requested special access for its guests at an October race at Talladega Superspeedway in Alabama, the complaint said.

Shares picked up across all federal categories last week, but overall application volumes fell, dragged down by a cooling conventional purchase market, according to the Mortgage Bankers Association.

Home prices, sales volumes, interest rates are expected to drop next year, researchers at the company forecasted.

The seed round was led by Conversion Capital and also includes backing from Blend, Zillow and Figure.