Stocks in the mortgage industry equity composite came in mixed
Eight of MIEC stocks registered gains on the day, with Ellie Mae’s being the proportionately largest at 1.9%, followed by Home Loan Servicing Solutions at 1.19%, Fidelity National Financial at 1.09%, PennyMac at 1.03%, Kaufman and Broad at 1.01%, Redwood Trust at 0.86%, Bank of Hawaii at 0.28%, and Radian at 0.19%, according to Yahoo Finance.
None of the MIEC stocks dropped more than 2.12% on the day.
The industry reported $275 million in losses from internet crimes last year, a 59% annual increase as losses nationwide surpassed $20 billion.
A Colorado couple filed suit after realizing they might owe as much as $279,000 on a home equity investment contract used to obtain $88,000 in 2018.
Economists surveyed by Wolters Kluwer are scaling back rate cut expectations as Iran conflict-driven energy costs push inflation higher, complicating the Fed's path forward.
A 21.2% spike in the price of gasoline was the biggest contributor to a 0.9% increase in the Consumer Price Index in March, according to a Friday report from the Bureau of Labor Statistics. The agency said other price increases were largely contained.
Jumbo loans demand more scrutiny and documentation, but automation is streamlining the process — and lenders who master the product stand to gain in a moderately bullish market.
LoanDepot will integrate Figure's proprietary credit and loan underwriting engine into its own proprietary mello technology platform and point of sale system.
