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Tim Mayopoulos, who led the government-sponsored enterprise for six years following the Great Recession, will oversee the FDIC-created entity intended to protect Silicon Valley Bank depositors.

Rates on the 30-year fixed rate mortgage rose during the month, but purchase borrowers using jumbo loans drove activity higher compared with January, Black Knight said.

Having lived through past downturns allows experienced leaders to keep employee engagement high as the mortgage business faces its first rough cycle in over a decade.

President Joe Biden said that deposits at U.S. banks are safe following swift action from his administration's bank regulators.

Three years after many employees left the office, no standard remote employment rule has stuck.

The FDIC named Greg Carmichael, who retired last year as CEO of Fifth Third Bancorp, to run a bridge bank that will hold Signature's deposits and most of its assets.

The San Francisco-based bank, whose stock came under pressure after the failure of Silicon Valley Bank, said the increased borrowing capacity strengthens and diversifies its funding. The bank's "capital and liquidity positions are very strong," executives said.

The Treasury Department issued a "systemic risk exception" allowing it to cover uninsured deposits at SVB and Signature Bank, which New York State closed on Sunday.

The bank's tech-sector focus contributed to its rapid demise. But the reasons for its failure come down to the nuts and bolts of banking, and other banks may have similar vulnerabilities.

Financial services firms are focusing on essential risk-related priorities, but must not lose sight of the importance of innovative technologies that drive business forward.

This could first be claimed by homeowners on their taxes in 2007, but it was never made permanent by Congress and expired after tax year 2021.

A $13.5 billion advance to Silicon Valley Bank months before its collapse is another sign that the Home Loan banks encourage risk-taking that can burden the Federal Deposit Insurance Corp. or even the system itself, critics say.

Meanwhile, pending home sales are down 16.1% compared to the same time last year but demand is still up from its late-October lull, according to Redfin.

Despite ending 2022 in the red, the lender and servicer saw full-year profits exceed 2021's total.

More than half of pandemic gains have been erased, but how the mix of stronger than expected overall employment and other developments will affect rates remains uncertain.

An analysis of HMDA data from 2018 to 2020 found a correlation between age and mortgage application outcomes.

The company wound down its wholesale production channel and is surrendering its Fannie Mae and Freddie Mac seller/servicer status.

The REIT failed to post profits in any quarter last year, as the mortgage industry encountered a steep originations slowdown.

By the end of December, 63% of borrowers saw home values increase by 7.3%, for a collective gain of $1 trillion, CoreLogic's report found.

In a subcommittee hearing on the CFPB, Rep. Andy Barr, R-Ky., sought to dismiss "sky is falling" concerns about other agencies' funding structures being questioned in wake of potential Supreme Court decision.