PMI Group Inc.'s stock price shot up 34.2% Monday morning as the Dow rose 168 points to 8380.5. Though not nearly as dramatic as Triad Guaranty's meteoric leap in stock price on Friday, the Walnut Creek, Calif.-based mortgage insurer saw its share price go up to $1.02 a share on Monday morning. In late March, PMI Group announced that, due to losses in the U.S. mortgage insurance business eating into its net assets, it was seeking new capital.
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.
As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
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.
Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
New enhancements in business purpose lending by lenders and vendors could help originators looking for new business as conforming rates keep rising.
The compressed timeline could address a key challenge mortgage companies face when considering changing vendors.
