Organization Root Tag

More incentives are coming for servicers as a greater number of distressed borrowers get expanded access to more affordable, streamlined modifications.

The threshold for the obligation has been lowered to 25 closed-end mortgage loans originated in each of the two preceding calendar years, according to a bulletin published on the OCC's website.

The layoffs were a result of the bank's decision to exit the channel, a spokeswoman confirmed.

Freddie Mac previously announced a similar change set to go into effect for mortgages with settlement dates on or after March 7.

The Federal Reserve Chair urged Congress to raise the debt ceiling, warning the impacts of not doing so could go beyond the central bank's ability to mitigate.

The Federal Reserve slowed its drive to rein in inflation and said further interest-rate hikes are in store as officials debate when to end their most aggressive tightening of credit in four decades.

Despite lower interest rates, both purchases and refinances declined after recent surges, while average loan amounts have gradually crept up to start the year.

The Consumer Financial Protection Bureau's data-access rule could create an uneven playing field because banks and credit unions are examined by regulators but hundreds of nonbank fintechs are not.

Despite 2022's slew of interest-rate hikes from Chair Powell and colleagues, financial conditions are the loosest since last February as investors bet fading inflation will allow the central bank to soon cease raising borrowing costs and then cut them later this year.

Repo markets and the bank deposit business, in particular, would be upended if the U.S. were to default on its debt, experts say.

Wells Fargo kept Chief Executive Charlie Scharf's pay at $24.5 million for 2022, a year in which both profit and stock tumbled and the bank continued to grapple with the fallout from a raft of scandals.

Despite the significant annual increase, home buyers saw signs of affordability returning in the latter months of the year.

But late borrower payments slightly grew in November, with 18 metro areas reporting an increase, up from six metro areas in October, CoreLogic's report found.

The U.S. economy expanded at a healthy pace in the fourth quarter, though an extended salvo of Federal Reserve interest-rate hikes is seen jeopardizing growth prospects this year.

Mortgage prepayment rates also fell to a new low for the third consecutive month in December, according to Black Knight.

Volumes came in higher for purchases and refinances, as well as for both conventional and government products.

Foreclosure prevention actions overall fell for the sixth time in seven months in October, according to the FHFA.

The reductions in the multifamily goals for 2023 to 2024 compared to those from the period before suggest that these goals will have little, if any, impact on the GSEs' multifamily operations in future years, writes a former principal economist with the Federal Housing Finance Agency.

The Federal Reserve's quantitative-tightening program risks being propelled toward an early end as U.S. politicians bicker in Washington over raising the national debt limit, according to some economists and bond market participants.

Working appraisers say government efforts to curb discrimination are pressuring them to inflate values, putting banks and borrowers at risk.