First American Corp., Nashville, Tenn., as part of its efforts to concentrate its mortgage operations on its primary market, has announced it sold McAfee Mortgage on Aug. 16.to an undisclosed buyer. Terms were not released, but First American said it expected to recognize "an immaterial gain" on the deal. The sale of McAfee represents $6 million in annualized expenses savings. Previously, the company sold First Mortgage of Nebraska as part of its mortgage banking reduction.
Over one-third of the Wolters Kluwer survey participants believe the next Fed move will be to boost short-term rates, but most expect one cut next year.
The National Association of Home Builders Remodeling Market Index for the second quarter posted a reading of 61, a one-point decline from the first quarter.
The new Mortgage Bankers Association research adds to debate over whether Fannie Mae and Freddie Mac should allow a less costly alternative to the tri-merge.
Wide regional variances appeared in housing-start activity in 2025, when the traditional leading builder markets all saw numbers decline by as much as 15%.
The bill, which passed with wide bipartisan support, will become law at midnight if President Donald Trump doesn't veto it.
Total application volume fell by over 13.000 units on a month-to-month basis, with declines in purchase and refinance activity, Keefe, Bruyette & Woods said.
