Organization Root Tag

The agency has been using the Freddie Mac weekly rate survey, but a methodology change by the GSE is the catalyst for the revision to determine the Average Prime Offer Rate for high-cost mortgages.

U.S. homebuilder sentiment rose for a fourth month in April as limited resale inventory helped drive demand for new houses, suggesting the residential real estate market is slowly recovering.

Federal Reserve Governor Christopher Waller said he favored more monetary policy tightening to reduce persistently high inflation, although he said he was prepared to adjust his stance if needed if credit tightens more than expected.

The firm reported $13.3 billion in NII in the first three months of the year, up 45% from a year earlier and more than the 42% jump analysts expected. That gain helped counter a surge in provisions for souring loans.

Mixed economic signals left mortgage rates flat over the past seven days, with experts suggesting the end of Federal Reserve policy hikes might be coming as well.

Two professionals who advise servicers on compliance name their key areas of concern.

Average purchase-loan amounts on new applications also increased after a recent pullback, as limited inventory provided little price relief.

The American Bankers Association's latest Credit Conditions Index points to a drop in lending and a rise in loan delinquencies through the second and third quarters.

But overall availability still remained near a 10-year low in March, with government-backed products falling for the third time in four months, the Mortgage Bankers Association found.

But profits more than doubled on the servicing side, according to the Mortgage Bankers Association.

With few clues coming from Federal Reserve officials about their next moves, the 30-year average dropped for a fourth straight week, according to Freddie Mac's latest survey.

Recent deposit flows raise questions about the Fed's support for these funds through its overnight lending facility, and whether that support is doing more harm than good.

The Cleveland Fed chief said she expects to make "some appreciable progress" toward taming price pressures in 2023, and estimates a closely watched gauge of inflation will reach 3.75% by the end of the year.

The agency added increased emphasis on loss mitigation and special purpose credit programs following heightened calls for more participation in the latter from a minority trade group.

The cost and scope of data sharing were among bankers' top complaints, while fintechs would like fewer restrictions, a report by the Consumer Financial Protection Bureau found. 

Per the settlement, the board of directors will expand its headcount to nine, opening the door to include Steve Ozonian, CEO of Williston Financial Group.

The falloff in government-backed applications outpaced the overall decline, with volume down by over 8%, the Mortgage Bankers Association said.

Two years ago, the parent company of Silicon Valley Bank promised $11.2 billion in community development support. Activists want First Citizens, which acquired much of the failed bank, to fulfill the commitment.

Throughout 2022, the California bank shed interest rate swaps that some believe could have prevented its failure.

The inspector general linked the problems to staff turnover and recommended improvements to policies around documentation that the housing agency agreed to make.