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The contract rate on a 30-year mortgage rose 6 basis points to 6.92% in the week ended May 16, according to Mortgage Bankers Association data released Wednesday.

Fair Isaac Corp.'s shares saw their worst day since March 2020 on Wednesday, falling alongside credit bureau stocks after the head of the Federal Housing Finance Agency questioned credit report pricing. 

Getting settlement agents and other stakeholders involved was a challenge, but e-note use has finally become routine for some mortgage lenders buying loans.

As private credit tops $1 trillion, Fed researchers warn bank exposure to the sector could spark systemic risk if defaults spike.

The move comes as the House of Representatives passed a successor bill this week to support distressed homeowners served by the Department of Veterans Affairs.

Whether in fake ads or misleading documents, anywhere fraud might be happening on Google, banks have a new way to quickly shut it down.

Alanna McCargo said her return comes at a time when there are "significant policy challenges ahead for affordability, community investment and inclusive finance."

Increases in gross domestic product and home sales expectations compared with April are the drivers of Fannie Mae's latest mortgage outlook for 2025 and 2026.

President Trump said his massive tax package is close to being finalized, but the White House has yet to win over a faction who want more spending cuts.

The federal official told a group of bank supervisors that the move, which Democrats oppose and the industry has mixed views on, will give them more autonomy.

The startup, which emerged from Y Combinator in 2023, has deployed its software at a long list of community banks and fintechs, including Grasshopper Bank and First Internet Bank.

In remarks at a Mortgage Bankers Association conference, the trade group's CEO also acknowledged the need for some guardrails to remain in place.

The size of typical bulk MSR deals trading has shrunk, according to panelists at the Mortgage Bankers Association's Secondary and Capital Markets Conference.

An explicit guarantee for Fannie Mae and Freddie Mac could cause the risk weighting of agency MBS to decline, in turn freeing up banks' balance sheets.

The funding round will help Button Finance, which leverages AI to underwrite home equity financing, expand its range of products to more borrowers.

Starting with the client for life concept, executives from Rocket and CMG Financial described what is happening at their nonbanks to achieve future success.

As the Federal Deposit Insurance Corp.'s Deposit Insurance Fund inches toward replenishment, acting Chair Travis Hill suggested that banks should be assessed on a range of metrics rather than insured deposits alone.

Discrepancies between servicer and investor systems have been rare recently but the dollar amounts involved magnify the impact, according to PMSI's CEO.

Months after OceanFirst Financial settled federal redlining allegations, it received the highest possible Community Reinvestment Act rating from the Office of the Comptroller of the Currency. CEO Christopher Maher said the bank made a "significant effort" to introduce its lending products to markets it had recently entered via acquisition.

The Federal Housing Finance Agency chief also explained an alternate name he's used for the agency in his first speech at a Mortgage Bankers Association event.