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Shrinking inventory of homes for sale and higher demand motivated by rising mortgage rates spurred buyers into action, the company found.

In an update to an exam manual, the Consumer Financial Protection Bureau says racial or other bias associated with a wide range of financial products — not just credit — is illegal and subject to CFPB enforcement actions.

The Soquel, California mortgage broker will retain its current branding for the time being.

Also, loanDepot promotes within its marketing division, BSI Financial aims to grow lending operations and NAREB appoints executive director.

Contract closings decreased 7.2% in February from the prior month to an annualized 6.02 million, figures from the National Association of Realtors showed Friday.

The effect is likely to be felt in consumer debt burdens and application misrepresentations, industry leaders say.

This follows the publication last week of an investigation that found that the bank had in 2020 approved only 47% of applications to refinance mortgages completed by Black homeowners compared with 72% of those from White applicants.

The company claims its digital registry system is a faster, safer alternative to MERS databases

The creation of single- and multifamily inventory occurred at the fastest pace seen since 2006 in February, but housing market transactions slowed as rates rose.

The builder reported better-than-expected quarterly orders as the record shortage of existing-home listings pushed buyers toward newly built properties.

Join Maggie Kimberl, President of the Bourbon Women Association for a peek behind the scenes of the bourbon industry. Learn more about the women that are rising in the male-dominated spirits sector, the proper bourbon tasting technique and a little bit of the history of bourbon.

It was the highest percentage reached in almost three years.

All five of the Biden administration's nominees received enough votes to secure passage to the Senate floor. Chair Sherrod Brown of Ohio called the moment "historic."

As the rising rates shrink the number of potential customers, mortgage brokers are seeking these products in order to keep business up.

The increase is the first since 2018 and, combined with reductions in the mortgage and Treasury bond portfolio, it could drive 30-year home loan rates to 4.5% by year-end.

Company management believes it can still be successful in the securitization market despite widening spreads.

The increase in second-lien residential loans in this category was even more pronounced, according to Standard & Poor’s Dow Jones Indices and Experian.

Purchases increased, but refinance activity cooled again due to rising rates.

A majority of the loans, 63.5%, were designated as non-QM loans, and about 36.5% of the loans in the pool are made to investors for business purposes.

The Federal Open Market Committee is all but certain to raise rates by a quarter percentage point at the conclusion of its two-day policy meeting.