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A 2018 report laid the groundwork for the Biden administration's push to root out discrimination in home valuation. A counter study says no such practices exist.

Banking and credit union regulators encouraged compassionate treatment of customers in Hawaii communities hit by wildfires. They also vowed to grant expedited approvals of temporary banking facilities, be flexible in compliance matters and provide other support to financial institutions.

The watchdog accuses the mortgage shop of providing illegal incentives to real estate brokers and agents, such as cash payments, paid subscription services, and catered parties, in return for purchase business.

Some respondents reprised calls for a return to more flexible capital rules and portfolio-level cross-subsidization. Others see danger in such a move.

Lenders reported a net loss of $534 on each loan they originated in the last quarter, an improvement from the $1,972 loss per loan the quarter prior.

The average for a 30-year home loan marked the fourth straight week of increases, according to Freddie Mac.

Offices impacted are located in Chicago, Cincinnati and Kansas City, a company representative said Wednesday.

Both Keefe, Bruyette & Woods and BTIG believe the transaction — key to spinout of the mortgage business — will be completed despite the opposition of Sculptor founder Dan Och.

Federal Reserve officials are more seriously discussing the possibility that they may not have to stop shrinking their massive balance sheet when they begin cutting interest rates, a readout from their most recent policy meeting showed. 

The Federal Housing Finance Agency is adding advanced models that include rental payment histories and trended data, but others tap cell phone or consumer-permissioned bank data.

The founder of the company formerly known as Och-Ziff is threatening to oppose the transaction unless material changes are made to the agreement.

Sen. Robert Peters, D-South Shore and Rep. Debbie Meyers-Martin, D-Matteson will spearhead the endeavor.

Lenders appear to be loosening underwriting a little and the construction industry may be on track to lower new home prices by 10%-15% this year.

But overall volume is still expected to be 38% lower than 2022's commercial real estate originations, as higher interest rates remain a drag.

But a surge of the 30-year conforming rate to a high last seen in 2001 helped drive overall borrowing lower, even as buyer interest in government-backed products grew, the Mortgage Bankers Association said.

Residential starts increased 3.9% last month to a 1.45 million annualized rate, according to government data released Wednesday.

The National Association of Home Builders/Wells Fargo gauge decreased six points to a three-month low of 50. The figure was below all estimates in a Bloomberg survey of economists.

Removing such debt information from consumer reports generated an uptick in home loan inquiries in one study and other industries have found advanced score use pays off.

The credit-reporting agency was fined $650,000 for sending customers marketing emails without an option to unsubscribe. Financial institutions are subject to the same law, called the CAN-SPAM Act.

The new entity from Roc360 will be an outlet for loans produced by the company and its two recently acquired businesses, Civic Financial and Finance of America Commercial.