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The U.S. Securities and Exchange Commission is probing the non-QM lender, which pledges to promote homeownership in underserved communities, over its mortgage-backed securities, according to people with direct knowledge of the matter. 

The lender's share price fell 93% Thursday as the industry reckoned with average mortgage rates hitting a 22-year high.

The program is even lower than Freddie Mac's best of 3%, with Zillow offering to pay 2% of the down payment at closing, according to a statement Thursday.

An economic slowdown would deliver lower interest rates but tighter credit standards, while a "soft landing" for the economy wouldn't solve the low inventory problem, a new report said.

The 30-year average jumped for the fifth week in a row and is likely to continue trending upward, economists say..

In a letter to the Federal Trade Commission, the California Democrat said assurances were needed from the potential combined company to ensure the buyer of divested assets would not be dependent on the "conglomerate" to offer fully functioning products.

In a seven-day period that saw several marks — including conforming interest rates — surge or dip past longtime highs and lows, overall mortgage activity cooled for a fifth consecutive week, according to the Mortgage Bankers Association.

The lender, which endured two difficult years of limbo before its listing, is touting a capital infusion of at least $550 million as a key to future growth.

While a majority of current forborne borrowers sought relief for reasons related to COVID-19, servicers are seeing a growing share of cases involving natural disasters or personal financial issues, the Mortgage Bankers Association said.

The government watchdog's original lawsuit was dismissed by a district court on Feb. 3, after the parties engaged in over nine months of discovery. Two months later, the agency challenged the decision.

The Office of the Comptroller of the Currency granted federally chartered banks permission Monday to close branches in California, Nevada and Arizona affected by Tropical Storm Hilary.

Demand-driven inflation will continue to be a problem in the U.S. economy until we somehow work through trillions of excess liquidity provided by the Federal Open Market Committee, writes the Chairman of Whalen Global Advisors.

The post-close review timeline gets shorter and new pre-funding checks become required on Sept. 1.

A 2018 report laid the groundwork for the Biden administration's push to root out discrimination in home valuation. A counter study says no such practices exist.

The watchdog accuses the mortgage shop of providing illegal incentives to real estate brokers and agents, such as cash payments, paid subscription services, and catered parties, in return for purchase business.

Some respondents reprised calls for a return to more flexible capital rules and portfolio-level cross-subsidization. Others see danger in such a move.

The average for a 30-year home loan marked the fourth straight week of increases, according to Freddie Mac.

Offices impacted are located in Chicago, Cincinnati and Kansas City, a company representative said Wednesday.

Federal Reserve officials are more seriously discussing the possibility that they may not have to stop shrinking their massive balance sheet when they begin cutting interest rates, a readout from their most recent policy meeting showed. 

The Federal Housing Finance Agency is adding advanced models that include rental payment histories and trended data, but others tap cell phone or consumer-permissioned bank data.