The vast majority of mortgage-related stocks performed well on Monday as hopes for another Federal Reserve rate cut and a quick resolution of subprime credit issues drove a rally that pushed the Dow Jones industrial average to an all-time high.Some of the mortgage sector's biggest winners were mortgage insurance companies. Radian's share price rose 6.7% on the day, while Triad was up 5.8% and PMI rose 3.21%. Countrywide Financial Corp. also posted a strong gain of 5% on the day. LandAmerica Financial Group was up 5.62%. Overall, the Dow closed up 191 points, or 1.38%, to close at 14,087.55. The day began with a bad omen, as both Citigroup and UBS announced that they would take big hits related to subprime mortgage loans, but the market seems to be betting that those companies are taking their lumps now so they can put the issue behind them.
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The head of the Consumer Financial Protection Bureau summarized his findings from a yearlong probe into the Appraisal Foundation. He says the "lawmaking body" is not accountable to the public or market forces.
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The top five depositories have a combined wholesale volume of more than $15 billion at the end of Q4 2023.
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Among opportunities to be offered to the program's fifth class of startup entrepreneurs are bank-provided mentorships and sessions with technology leaders and regulatory experts within home finance.
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Financial advisors and tax experts say HOA fees are usually not deductible, unless the home is used for a business or as a rental property.
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The broker argues it did not break any agreement because it never signed an amendment to UWM's ultimatum in 2022.
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The racial gap in first-time buyers' ability to maintain their status as owners has also narrowed over the last two decades, the agency's researchers reported.
March 18