Mortgage industry stocks closed mixed on Monday as investors reacted to news that
The Dow Jones Industrial Average gained 26 points and set yet another new record.
But just nine members of the Mortgage Industry Equity Composite reported a higher close than
Home Loan Servicing Solutions lost 1.6% while Radian Group was down slightly over 1%. CoreLogic gained 1.5%, while PennyMac Mortgage Investment Trust gained nearly 1% and PHH was up 0.9%,
Adam Boyd, a veteran financial services executive with more than 25 years of experience, will head the growth of Rate's consumer lending platform.
Washington State charged Newrez after a consumer investigation, with the notice following recent enforcement action against Luminate Home Loans.
Mike Kortas will be adding a separate mortgage servicing company and hiring NEXA loan officers to assist with the process and give them customer insights.
The latest government-sponsored enterprise changes include a more flexible sampling and a longer maximum term for some manufactured housing loans, respectively.
The product preserves borrower's first mortgage, and its potentially lower mortgage rate, without requiring the new monthly payments of a traditional HELOC, FOA says.
The White House's proposed 2027 budget would slash funding to the Community Development Financial Institutions Fund, the latest in an ongoing campaign from the Trump administration to dismantle the politically popular program.
