The Eleventh Federal Home Loan District Cost of Funds Index has increased for the eighth consecutive month, reaching 2.183% in January.This is a 6.5-basis-point increase from 2.118% in December. According to data from the website of the Federal Home Loan Bank of San Francisco, the current streak of increases in COFI is the longest since one that started in July 1999 and ended in December 2000. Since reaching a low of 1.708% in May 2004, COFI has increased 47.5 bps. In comparison, for the first eight months of the streak that began in July 1999, COFI increased slightly more than 50 bps.
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
10h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
11h ago -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
April 17 -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17 -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16