HomeGold Financial Inc., Greenville, S.C., has sold Sterling Lending Corp., a retail originator of subprime loans, to FNSC Mortgage Corp., Beaumont, Texas.The purchase price was $1.5 million, of which $400,000 was paid in cash and the rest has been placed in a promissory note. Sterling had originations of $39.4 million in the first seven months of 1998; it incurred an operating loss of $28 million for the period. Sterling has 135 employees.
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.
