One day after stocks lost ground in a big sell-off, the Dow Jones industrial average rose 247 points Aug. 29, or 1.90%, as investors searched for bargains amid increasing optimism about a possible rate cut by the Federal Reserve Board.Mortgage-related stocks joined in the recovery, with some hard-hit companies gaining the most ground. Accredited Home Lenders saw its stock price rise 0.39% on the day, or 6.68%. Delta Financial Corp. saw its stock rise 4% on the day. Countrywide Financial Corp. climbed 2.59%, while Fannie Mae saw gains of more than 3%. But the mortgage insurance stocks saw mixed results, with Radian's stock price falling 3% and Triad Guaranty's falling 14%. Analysts attributed those declines to continued concern about weakness in the housing sector.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
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Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
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A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25