The newest participant in the government's Second-Lien Modification Program is Citigroup. It becomes the fourth participant in the program, joining Bank of America, Chase and Wells Fargo. "It is our priority and commitment at Citi to help homeowners in need," said Vikram Pandit, chief executive. "The 2MP program will further improve the affordability on mortgages and help families facing financial distress stay in their homes."
Market wonderment over inflation data and a possible halt to the Iran conflict, resulted in what some trackers found to be sideways week for mortgage rates.
CrossCountry Mortgage, stating its competing bid versus UWM is the "highest premium paid for a mortgage REIT," hinted it could make other moves.
A new deal makes Wells Fargo the preferred lender of homes built by 3D-technology firm Icon, with the bank offering a 50 basis point discount to borrowers.
Housing advocates and compliance firms are suing to block a rule from the Consumer Financial Protection Bureau that they say guts the Equal Credit Opportunity Act.
June could be the true test for delinquencies and how many distressed borrowers impacted by a shift in Federal Housing Administration rules will reperform.
The Federal Reserve Board governor is the latest Fed official to embrace the prospect of tighter monetary policy in response to rapidly rising prices that have taken hold in recent years.
