Subject Root Tag

The move by the agency, which is an arm of the Department of Housing and Urban Development, will help further efforts to give servicers more leeway to modify mortgage terms.

Rocket, already the nation's No. 1 lender, is looking to increase market share

Numbers decreased across all loan types, with the largest decline among GSE-backed mortgages.

The combined refinance and purchase total was nearly double the average quarterly volume logged before the pandemic, the company said in its third-quarter earnings call.

The bureau’s new director named former Obama administration officials Lorelei Salas and Eric Halperin, respectively, as the heads of supervision policy and enforcement.

If lenders build this technology, data suggests that borrowers will come walking out of the cornfields for it — but Congress needs to pass the SECURE Act first.

Benchmark will issue 21 classes of certificates, with 13 entitled to principal and interest payments. Six classes will receive interest only.

Mortgage servicing rights can look more attractive to originators as they become increasingly interested in building their customer base, but some may want to sell due to thinner margins or regulatory uncertainty.

The company is making progress on a focus shift to recurring revenues from transactional activities.

James Campbell joins a bank whose mortgage operations generated $178 million in third-quarter revenue.

The company sees an opportunity as its competitors have to sell to make up for lost income due to tighter origination margins.

The company also locked a record $4.7 billion in jumbo loans and significantly increased its business purpose lending from a year ago as its revenue mix shifted toward its taxable subsidiary.

A crackdown is coming at a particularly awkward time for the financial industry: bankers are pressing government authorities to approve mergers and acquisitions at one of the fastest clips since the 2008 financial crisis and to get their paydays linked to those deals, more executives may feel pressure to resolve government claims.

Numbers have fallen on a consecutive quarter and 12-month basis in half of all states but are likely to increase following the gradual end to the federal foreclosure ban, according to Attom Data Solutions.

Amazon, Google and other technology giants entering financial services should be subject to the same supervision banks are, Rohit Chopra said in his first congressional testimony as director of the Consumer Financial Protection Bureau. He also said he wants to focus enforcement on large firms that harm many people rather than chasing small companies.

Application for loans to buy a home are a quarter more likely to contain misrepresentations than other loans in the market, CoreLogic said.

The increased complexity of loss mitigation in the wake of the pandemic has increasingly prompted a growing number of mid-sized players to outsource, so constraints on one player could affect others.

The deal for Michigan-based Flagstar Bancorp, announced in April, was originally expected to be completed by the end of the year. The New York bank’s CEO expressed optimism that it will still get regulatory approval.

The standards, if finalized, could shed light on how Fannie Mae and Freddie Mac are complying with the Federal Housing Finance Agency's new capital framework.

Purchases picked up, but refinances slowed for a fifth straight week, as rising interest rates took steam out of the market.