Mortgage stocks rebounded modestly at the end of the trading day on Wednesday as the Dow went up nearly 257 points. MI companies Milwaukee-based MGIC Investment Corp. and Richmond, Va.-based Genworth Financial, however, saw healthy upticks at 19.8% and 11%, respectively. Philadelphia-based Radian's stock price closed the end of trading on Wednesday up 7.9%, while Winston-Salem, N.C.-based Triad Guaranty's stock rose 6.7%. Walnut Creek, Calif.-based PMI Group's closed up 4.7%.
House Democrats on the Financial Services Committee said the more than 400-page Community Reinvestment Act proposal warrants more time for review, given its sweeping implications for community development and bank lending.
A judge found United Wholesale Mortgage did not break the law in its handling of the retirement plan, which ex-workers say cost them a collective $1.8 million.
New enhancements in business purpose lending by lenders and vendors could help originators looking for new business as conforming rates keep rising.
As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
The compressed timeline could address a key challenge mortgage companies face when considering changing vendors.
