Organization Root Tag

The suit, filed in the U.S. District Court for the Middle District of Florida, seeks class action status.

For a lot of IMBs facing shrinking backlogs and falling secondary market spreads, the attraction of hitting a bid and taking the easy way out via an acquisition may become irresistible, writes Chris Whalen.

Despite falling from quarter to quarter, Flagstar’s mortgage revenues remained strong, while its servicing portfolio grew.

More than two-thirds of the economists surveyed expect the Federal Open Market Committee will give an early-warning signal of tapering this year, with the largest number — 45% — looking for a nod during the July-September quarter.

Three months into President Biden’s term, the White House has yet to select a nominee to run the Office of the Comptroller of the Currency or pick an acting chief. That inaction will make it more difficult for Democrats to unwind Trump-era policies, critics say.

Inflation, an improving economy and the increased federal budget deficit make rate increase inevitable this year, the Mortgage Bankers Association said.

The Consumer Financial Protection Bureau disputes a district court ruling that misconduct claims against the company were already covered by a previous settlement.

The persistently slow reduction in the number of borrowers at risk of default indicates that while loan performance overall is improving, a substantial pool of mortgages will need workouts when forbearance ends.

While purchase volume is seeing its usual seasonal pickup, lower rates caused a spike in activity among existing homeowners looking to refinance.

Federal Housing Finance Agency Director Mark Calabria said he wants to work with the consumer bureau on an “exit strategy” for borrowers approaching the end of their forbearance periods.