The rate-indicative 10-year Treasury yield on Wednesday fell to 3.90%, a level thought to be significant in terms of prepayments.A move to 3.90% or lower could result in a "significant increase in refi activity," according to Art Frank, director of mortgage-backed securities research at Nomura Securities International Inc. RBS Greenwich Capital Markets MBS researcher Alec Crawford also said he considers the move into a range below 3.90% to be significant.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
7h ago