After a week of wild gyrations over if and when the Federal Reserve will end the stimulus program, investors apparently took a breather as the Dow Jones Industrial Average increased 41 points on Friday. There were 10 gainers and seven losers among the Mortgage Industry Equity Composite stocks.
Ellie Mae lost 2.62% from
Even Fannie Mae and Freddie Mac closed higher, up 6.94% and 8.07%, respectively.
The 30-year fixed fell to 6.37% after a two-week ceasefire tempered war-driven volatility, but economists warn the spring housing market faces continued turbulence.
The Mortgage Bankers Association found gains in March for conforming, jumbo and government-sponsored loan indices for the third consecutive month.
An appellate court reversed part of an $8.5 million award for attorneys who secured a $38.5 settlement against the lender in 2023 in a False Claims Act case.
Fintech Candid says its AI-powered newsletter platform can scrape social media and public data to help loan officers send hyper-personalized outreach at scale.
Conforming loan limits are determined using a home price index. A congressman is proposing a switch to an income-based metric, creating more jumbo mortgages.
Jay Plum, head of consumer lending at Fifth Third Bank, says artificial intelligence is fundamentally shifting relationships between banks and their third-party software vendors, allowing banks to do things on their own that they would previously rely on vendors to do for them, like identify risky loans and prepare for exams.
