The Mortgage Bankers Association launched the "Home Loan Learning Center," a new online consumer website (www.homeloanlearningcenter.com) that provides basic home buying and homeownership information for interested consumers.Topics include the importance of credit history and ways how to improve it before applying for a mortgage loan, how to find the right home, the mortgage lender and loan product that best fits their financial situation, and also how to select the right lender, offering a complete home buying and homeownership information resource. MBA president and CEO Jonathan L. Kempner said the MBA hopes the new site "will give people interested in becoming homeowners the knowledge they need to more confidently navigate through the mortgage transaction process."
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A regulation requiring nonbanks to report violations of local and state orders to federal offices was redundant and offered no benefit, mortgage leaders said.
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Mortgage loan application volume jumped 7.1% on a seasonally-adjusted basis last week, the Mortgage Bankers Association said.
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Shareholders' equity topped $105 billion as net income rose 16% from the previous quarter and nearly matched year-ago results.
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The Federal Open Market Committee is expected to announce guidance on the end of its quantitative tightening program later Wednesday. As that process draws to a close, experts are questioning when and how the central bank should use its balance sheet to smooth economic stress in the future.
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The Consumer Financial Protection Bureau is rescinding two rules issued under former CFPB Director Rohit Chopra that required nonbanks to register court orders, plus terms and conditions of contracts.
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While Rocket Mortgage's satisfaction score improved by 4% versus 2024, the industry as a whole dropped 1%, with credit unions outpacing banks and IMBs.
October 28





