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In four of the six periods in the last 30 years where mortgage rates increased significantly, sales also grew, First American said.

While the overall number of applications dropped last week, average mortgage sizes shot up across all categories.

Key retail vacancies, a drop in office occupancies, plus a combination of lower oil prices, a housing market oversupply — worsened by the coronavirus pandemic — caused loan-level performance issues.

The North Carolina company has estimated the degree of exposure to flooding and hurricanes that exists in its mortgage and commercial loan books and has tallied its losses from severe storm damage in recent years. It’s one of a few regional banks to publish assessments based on the criteria of a global task force.

With resources provided through the Homeowner Assistance Fund, the $1 billion plan will help cover homeowners’ past-due payments and comes after New York unveiled a similar assistance package earlier this month.

The state Department of Financial Protection and Innovation issued a cease-and-desist order against Nano Banc, saying the troubled bank violated an earlier consent agreement when it replaced five board members and appointed a new CEO without the regulator’s permission.

The government-sponsored enterprise has 45 days to submit a plan on how it intends to meet the increased target for 2022 through 2024.

Experts discuss the proliferation of chief diversity officers across the industry and what it may mean for future progress in diversity.

Further declines occurred in November, albeit at a slower pace than in October, according to a new loan performance report from the Mortgage Bankers Association.

The Morgan Mortgage Trust platform has had a SOFR tranche on every previous 2021 deal, generally pricing with a spread of about 95 basis points over SOFR.

The Servicemembers Civil Relief Act includes extra protections aimed at preventing foreclosure for homeowners in the military.

Blackstone Inc. has agreed to acquire Bluerock Residential Growth REIT Inc. in a deal valued at $3.6 billion, extending its push into U.S. rental housing.

The 2.5 million-member personal-finance app has saved consumers $100 million-plus since its founding in 2015, and could add a similar amount on an annualized basis to fee income.

Recent existing home sales have been stronger than expected, but next year could see a market held back by the inventory shortage and higher rates.

Wayne County, Michigan's use of Delinquent Tax Anticipation Notes is an extreme example of a nationwide phenomenon: Local officials use fines and foreclosures or tax lien sales as cudgels against people who haven’t paid their property taxes. Some municipalities’ efforts to securitize or sell the debts have led to a broad, upward transfer of wealth that’s rooted in fundamentally unfair tax systems.

The central bank also signed off on Webster Financial’s acquisition of Sterling Bancorp and WSFS Financial’s purchase of Bryn Mawr Bank Corp. The moves come amid a political fight over the bank merger approval process.

The crime highlights the importance of ensuring the integrity of documentation used by lenders to verify loan information at a time when defect risk is rising.

Just three months ago, U.S. banks were still using the expiring benchmark rate for the vast majority of their new loans. But regulators said Friday the transition to alternative rates has accelerated ahead of a year-end cutoff.

The decline in competition might not have helped with affordability but it gave home purchasers more time to consider properties before they were snatched up.

Lenders gaze into the looking glass to forecast what’s ahead for the industry’s jobs, product mix, capital market policy and more.