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. The rally cooled on Thursday, and the Dow was up about 25 points at midday.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
April 26 -
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.
April 26 -
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.
April 26 -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
April 26 -
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