There were just four Mortgage Industry Equity Composite stocks which closed Thursday higher, as the stock market had a
The gainers were led by the private mortgage insurers, Radian, up 2.83%, and MGIC, up 1.15%.
The others in the green were Redwood Trust and Fidelity National Financial.
Technology providers Ellie Mae and CoreLogic took it on the chin, down 9.25% and 4.26%, respectively.
Bank of America was down 3.22% and PHH was down 2.45%.
The industry reported $275 million in losses from internet crimes last year, a 59% annual increase as losses nationwide surpassed $20 billion.
A Colorado couple filed suit after realizing they might owe as much as $279,000 on a home equity investment contract used to obtain $88,000 in 2018.
Economists surveyed by Wolters Kluwer are scaling back rate cut expectations as Iran conflict-driven energy costs push inflation higher, complicating the Fed's path forward.
A 21.2% spike in the price of gasoline was the biggest contributor to a 0.9% increase in the Consumer Price Index in March, according to a Friday report from the Bureau of Labor Statistics. The agency said other price increases were largely contained.
Jumbo loans demand more scrutiny and documentation, but automation is streamlining the process — and lenders who master the product stand to gain in a moderately bullish market.
LoanDepot will integrate Figure's proprietary credit and loan underwriting engine into its own proprietary mello technology platform and point of sale system.
