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A former Wells Fargo executive will replace Bair next month as part of a broader shakeup of the government-sponsored lender's leadership ranks. Chief Executive Hugh Frater is also stepping down.

The municipality and the bank have been at odds over similar issues in the past, and no agency currently has deposit accounts with the lender.

Former Wells Fargo executive Michael Heid is the new chairperson, while David Benson, currently president, also becomes interim chief executive.

One company that has responded with a new product thinks it can avoid roadblocks past attempts encountered by coupling automation with errors-and-omissions insurance.

Zigg Capital led the Series B raise for the West Coast-based digital platform, which was founded by former employees of Freddie Mac and Palantir.

The Eleventh Circuit Court of Appeal split hairs and said each allegation must be examined to see whether it was not covered by the National Mortgage Settlement.

Chief Technology Officer Diane Yu joins a growing number of C-suite personnel leaving the New York-based mortgage lender in recent months.

The government-sponsored enterprise will now accept a written opinion from an attorney in lieu of a policy for some transactions.

Senate Majority Leader Chuck Schumer took a procedural step before the Senate leaves for a two-week break seeking to limit debate on Lael Brainard’s nomination for vice chair, as well as Lisa Cook’s nomination for Fed governor when lawmakers return. 

The lender’s latest announcement comes one month after it laid off a third of its staffers in March and 900 employees in December in a disastrous Zoom call.

Originators offered fewer high loan-to-value and lower credit-score products, but jumbo offerings increased for the 10th time in 12 months, the Mortgage Bankers Association said.

Further upward pressure is likely this spring, as markets prepare for expected reduction of bond purchases by the Fed.

While relatively few of these consumers have applied for mortgages recently, the findings point to an untapped market that lenders might be able to reach out to as refinancing dries up.

The misdemeanor plea deals for three co-defendants do not add to troubles for an upstate New York developer facing federal felony charges in what once was called a "wide-ranging mortgage fraud scheme."

Decreasing affordability and remote work is spurring interest in moving to these often overlooked markets.

Solar loans with balances of $5,000-$125,000, and Home Efficiency Loans, which have balances ranging from $1,000-$100,000, make up the bulk of the asset pool.

Market conditions drove the management team at Ellie Mae to take the company private back in 2019. Could the nation's largest servicing technology provider be considering the same thing?

Out of all investor group types, those with the deepest pockets — property giants with 100 or more homes — tamped down their spending most at the end of last year, CoreLogic reported.

Minutes of the Federal Reserve's March meeting released Wednesday also showed that “many” officials viewed one or more half-percentage-point rate increases could be appropriate going forward if price pressures fail to moderate.

Servicers of Fannie Mae- and Freddie Mac-backed loans should hit pause for up to 60 days once they know the borrower has sought relief, according to the Federal Housing Finance Agency.