Standard & Poor's has raised its global estimate for total subprime mortgage-related securities writedowns but has indicated that "the end is in sight." S&P has increased the estimate from $265 billion to $285 billion and said that total writedowns to date "are likely past the halfway mark." A recent estimate for total mortgage writedowns from Wall Street firms and academics, in comparison, was $400 billion. But experts citing that figure said it was "very uncertain."
With the 10-year Treasury yield hitting a 19-month high, mortgage industry executives are bracing for a tougher-than-usual end of year.
The Republican proposal would bring the CFPB under congressional appropriations and curb several of its regulatory powers.
The real-estate services firm has purchased a title search company and affiliate just months after buying the Mortgage Contracting Services division from MCS.
Workforce solutions firm 3N Performance agreed to a Washington consent order after officials found it had engaged in unlicensed processing and underwriting.
Markets are still pricing in an increase in the federal funds rate later this month, but Federal Reserve Gov. Michael Barr said his vote will depend on incoming unemployment and inflation data.
The nation's largest homebuilder is fending off accusations that it misled home buyers on their escrow estimates and saddled them with steep increases.
