Origination

Higher rates and tight margins are affecting its non-QM and conforming businesses.

California could soon help first-time home buyers with their down payments and mortgage costs under a proposed $1-billion program to make homeownership more financially feasible for low- and middle-income residents.

Only Stewart reported a quarter-to-quarter increase in net income, while upstart Doma is reducing headcount by 15%.

The sale of its correspondent business to Planet Home Lending, divestment in a reverse mortgage lender, Longbridge Financial, and the outsourcing of mortgage servicing rights all reinforce its focus on wholesale, company management said.

But growing worries about a possible recession may also end up playing a role in their direction over the coming weeks.

The vote was 51-50 in favor, with Vice President Kamala Harris breaking a tie as opposition by Republicans continued.

Cybercriminals can leverage the workflow of the digital firms against them by tossing a plethora of stolen credentials at an online loan application until they secure approvals, according to one expert.

Its outlook is about $20 billion less than what the analyst consensus forecast had called for.

Consumer Financial Protection Bureau Director Rohit Chopra is pushing the envelope of the bureau's power and jurisdiction in untested ways. More companies are disputing the CFPB’s allegations, refusing to pay large fines or admit wrongdoing, and vowing to defend themselves in court. 

A 5% surge in purchase applications drove up overall activity, while average loan amounts also increased across all categories.