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The unusual nature of a recent lawsuit from the Department of Justice has put a multi-billion-dollar industry in the position of deciding either to violate federal law or run afoul of the DOJ, writes the former Chief Legal Officer of Research In Motion Ltd.

Hedge fund manager Scott Bessent had been the betting favorite to take the reins at Treasury. Scott Turner, a former congressman and NFL player, will lead the housing agency.

Turner served as executive director of the White House Opportunity and Revitalization Council previously.

In its latest financial stability report, the Federal Reserve warned high equity valuations and low levels of liquidity could leave the financial system vulnerable to shocks.

Freddie Mac is offering a municipal bond option for investors in its ML multifamily securitization offerings starting with its December issuance.

The rezoning plan, known as City of Yes for Housing Opportunity, passed a key City Council subcommittee hurdle Thursday after the vote was delayed more than six hours while council members tweaked controversial aspects of the deal.

Investors bought 15.9% of U.S. homes sold in Q3, according to Redfin, a level similar to 2018 and 2019, when the share was around 14%.

The development is the latest in an ongoing series of initiatives the Department of Housing and Urban Development has introduced to encourage growth of the factory-built construction segment.

Serious mortgage delinquencies are at their highest since May 2023, and early payment default activity is also a concern, ICE Mortgage Technology said.

A federal court ruled the plaintiff wants "sweeping reforms the court is powerless to give."

The Great Financial Crisis changed not only how Luxury Mortgage operated, but what its name stands for, shifting from the high-end of the market, founder David Adamo said.

Nonbanks with servicing portfolios saw earnings dip, while expenses for most shot up in anticipation of more origination volume.

Rejections for mortgage credit outpaced almost every other borrowing category, according to the Federal Reserve Bank of New York.

The North Carolina-based bank rolled out a multiyear program to provide loans, investments and philanthropic support to communities in the western part of the state.

Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.

Smaller players face challenges when it comes to mortgage servicing rights, and larger ones have varying motivations, experts at an industry meeting say.

The SEC chair's ambitious agenda drew fierce resistance from Wall Street and the crypto industry.

The 30-year fixed rate mortgage average resumed its climb that started in September, as the benchmark 10-year Treasury price still reflects views on inflation.

Fannie Mae's latest economic forecast no longer expects mortgage rates to go below 6% next year, and that is affecting its views on loan origination volume.

Contract closings increased 3.4% from a month earlier — the most since February — to a 3.96 million annualized rate, according to data released Thursday by the National Association of Realtors.