The Eleventh Federal Home Loan District Cost of Funds Index rose to 2.317% in February, the ninth consecutive month it has recorded an increase.The index stood at 2.183% in January. Since reaching a low of 1.708% in May 2004, COFI has increased more than 60 basis points. The index is a weighted average calculation of the cost of mortgage money for thrifts in Arizona, California, and Nevada.
A tour of the technology that banking has run on, dating back to Franklin's anti-counterfeit measures and the bank-note bulletin that preceded American Banker.
Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
The vote to approve the $12 per share deal, which rejected a hostile bid from UWM Holdings, came following several postponements of a special meeting.
A mortgage customer claims his data was compromised in a hack last year at a tax and accounting firm reportedly used by the wholesale giant.
The government-sponsored enterprise clamped down on project review requirements and certain factory-built home appraisals while loosening other guidelines.
The June jobs report is creating an overhang on economist forecasts for interest rates going forward, especially when combined with recent inflation data.
