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A rate drop was a common concern for some servicers during the quarter, and Ocwen recently took a step aimed at better addressing this risk in the future.
February 27
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Some large mortgage companies reportedly have high retention rates, but the industry average is a different story, according to Mortgage Bankers Association data.
February 23
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Federal Reserve Bank of New York President John Williams said the economy is headed in the right direction, and it will likely be appropriate to cut interest rates later this year
February 23
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A financial services veteran, Peter Akwaboah joins the government-sponsored enterprise after serving as a managing director for Morgan Stanley, where he led technology and innovation strategy.
February 23
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The New York bank's AI research group has published 400 papers, according to new research from Evident; TD Bank Group's Layer 6 unit published 14 last year. These groups work to solve real-life problems in the business units.
February 22
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The Mortgage Bankers Association's preliminary first half 2023 analysis shows the highest jump since the 2000s housing boom. Here's what might happen next.
February 22
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The 30-year average rate got closer to 7% as central bank officials dashed near-term hopes of a cut, according to Freddie Mac.
February 22
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The Federal Housing Administration's new foreclosure prevention strategy starts soon and a Department of Veterans Affairs option is getting final approvals.
February 21
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Mortgage application activity had its largest decline in a year, according to the Mortgage Bankers Association.
February 21
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The blockbuster merger proposal will be reviewed at a time when the Biden administration is expressing skepticism about consolidation. Its analysis will have to account for markets dominated by both big banks and the likes of Visa and Mastercard.
February 20
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The Charlotte, North Carolina, company has agreed to sell its remaining 80% stake in its insurance brokerage unit to raise billions of dollars in cash and extra capital. The "wild card" is how Truist will deploy them, one analyst says.
February 20
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Amid an upturn in deposits, banks are searching for ways to put this new cash to work. The traditional option — boosting lending — is hard to do right now. That's left banks to park more money in high-quality securities that they believe will boost returns without heaping on too much credit risk.
February 16
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The government-sponsored enterprise financed 955,000 mortgages last year, down from the 1.8 million loans it backed in 2022.
February 14
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The Federal Reserve expects to cut interest rates three times this year, some say as early as March, if data alllow those moves. Following the Jan. 30-31 FOMC meeting, Garrett Melson, portfolio strategist at Natixis Investment Managers Solutions, will provide his take on the meeting and Chair Jerome Powell's press conference.
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An increase in conventional lending products drove the upturn, but the overall reading of the Mortgage Bankers Association index still landed near the longtime low from late 2023.
February 9
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The quarterly rise in late payments on Federal Housing Administration loans was more than five times the increase for home loans overall.
February 8
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The original lawsuit was one of several filed in 2014 in a coordinated effort among federal and state regulators aimed at fraudsters trying to cheat distressed mortgage borrowers.
February 8
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Treasury Secretary Janet Yellen didn't directly address the turmoil at New York Community Bank, and said that while some smaller institutions could be hit by a changing commercial real estate market, she doesn't anticipate these mortgages will become a systemic risk.
February 8
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Fannie Mae is implementing a new prohibition for traditional valuations and addressing the possibility of the National Flood Insurance Program lapsing.
February 8
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While refinances shot up, purchase lending saw a second weekly pullback according to the Mortgage Bankers Association.
February 7
