Investors finally returned to the stock market Wednesday, driving the Dow Jones industrial average up nearly 300 points. Many mortgage industry stocks saw double-digit gains on the day, with shares of Fannie Mae and Freddie Mac each rising by more than 13%. Title insurer LandAmerica Financial Group's shares rose 24% on the day, closing at $6.84. Fidelity National Financial's shares rose 22%, closing at $17.32. One exception was IndyMac Bancorp. The company's shares fell 7%, with the stock closing at $4.36 after Moody's Investors Service withdrew its debt ratings on the company. Strength in the financial sector overall helped the DJIA rise 299 points, or 2.5%, to close at 12,270 on Wednesday.
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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 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25