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The measure enacted on Dec. 30, 2022 applies retroactively and could add servicing risks that lending divisions will likely consider in underwriting and pricing on new loans originated in the state.

A former branch manager allegedly directed 15 loans worth $7 million to the Ohio-based adversary during a three-month period.

The majority of the positions impacted at the lending arm of real estate firm Keller Williams were related to loan processing, according to a company spokesperson.

A month after the National Community Reinvestment Coalition blasted KeyBank's mortgage lending record to Black borrowers, the group said it will send letters to the Federal Reserve and OCC about its findings.

While supply was up by over 54% compared to a year earlier, new home listings decreased, according to Realtor.com.

The most extreme example of FOMC interest rate market manipulation in 2020 to 2021 has now created a huge potential risk for lenders and investors, writes the chairman of Whalen Global Advisors.

A survey of 100 lenders in December found that almost half (47%) of the participants closed a loan package using digital solutions, such as eSignatures and remote online notarization.

The Department of Justice said City National avoided offering home loans in Black and Hispanic neighborhoods in Los Angeles County from 2017 to 2020.

The 30-year fixed loan rate dropped 15 basis points compared with last week as bond market investors acted in advance of this morning's Consumer Price Index report.

With Control Your Price loan officers can lower the interest rate by up to 40 basis points on a loan and by 1.25 percentage points across their pipeline.

The move, which comes with an unspecified number of layoffs, is expected to cost the company $3.8 million to $4.6 million in pretax charges in the second quarter.

The shift opens the door for regional banks to increase their aggregation activities, analysts said.

But the numbers still generally remain below pre-pandemic levels, according to Attom.

Company president and former Fannie Mae CEO Tim Mayopoulos will step down in the first quarter, one of four few resignations among leadership this month.

The transactions, combined with news Wells Fargo will be shedding some mortgage servicing rights, add to indications that prices for investors may be more favorable this year.

The Consumer Financial Protection Bureau is making a second attempt at blocking companies from limiting consumers' legal rights through arbitration clauses that violate consumer protection laws.

But refinances saw an upturn and pushed overall loan activity higher in the first week of 2023, the Mortgage Bankers Association said.

The company will also be reducing its servicing portfolio.

Many industry stakeholders have been watching certain credit measures closely for signs that underwriting is loosening out of concern it could do so excessively, but indicators still show it's historically tight.

Among current investors in the market, 7% are between 18 and 29 years old, while 15% of those looking to make their first purchases also belong to the same age group, according to a new study.