Organization Root Tag

The departures of David Benson and Jeffrey Hayward means decades of internal experience are leaving the company, said David Stevens.

Loan activity overall came in higher for the second week in a row, with interest rates flattened following an extended volatile period, the Mortgage Bankers Association said.

The lender has shed over $1 billion in annualized expenses and said it retains enough capital to sustain operations for the next several years.

The program helped more than 23,000 consumers establish credit scores in its first year through partnerships with three fintechs, all of which were chosen to renew their participation.

By the end of 2024 traders now see the U.S. central bank slashing rates by a full percentage point, despite officials repeatedly warning markets that they're in no rush to cut rates.

Policymakers are exercising restraint when it comes to the MBS portfolio for now but they'd still still like to sell, panelists at an industry conference said.

An article's handling of COVID loan forbearance for veterans is an unfortunate example of how American journalism has become compromised by progressive politics, often by ignoring or twisting the facts, writes the chairman of Whalen Global Advisors.

Federal Housing Finance Agency Director Sandra Thompson is pushing for a quick launch of pilot programs at the 11 Federal Home Loan banks to help underserved communities after its report this week prescribed major reforms to the system.

Also, lenders Click n' Close, Lower add c-level executives, Southern Bancorp embarks on expansion of mortgage division and Formfree finds new director of marketing.

The firm says the product can save companies in excess of 30% of their existing cost structure.

A significant fallback in rates brought some borrowers back to the table but cooled interest in adjustable-rate loans, which had surged throughout October, the Mortgage Bankers Association said.

The lender and servicer is still planning for another $120 million in annualized expense reductions in the next few quarters.

He will take over the role from current non-executive chair Sara Mathew, who's allowed time on the government-sponsored enterprise's board is expiring.

The company also renewed key partnerships, recorded some reverse mortgage charges it'd previously foreseen and eked out an adjusted pretax origination gain.

The Federal Housing Administration has a floated modernized policy that could permanently replace the temporary one but was asked for more implementation time.

Banks have been working to sell portfolios of commercial-property debt as they seek to manage their exposure to the sector. Soaring borrowing costs have weighed on valuations, with commercial real estate prices slumping 16% in September from a peak in March 2022, according to real estate analytics firm Green Street. 

The seizure of servicing from Reverse Mortgage Funding's bankruptcy has had ripple effects ranging from a private legal challenge to broader policy changes.

The digital lender's product comes amid soaring expenses for homeowner's coverage.

Like its competitor Fannie Mae, the enterprise's earnings were higher year-over-year but recorded a quarterly decline in part due to a legacy shareholder lawsuit.

Despite the 10% jump in adjustable-rate mortgages, a decline in federally sponsored application volumes dragged overall numbers lower for the fifth time in six weeks, according to the Mortgage Bankers Association.