Capital markets

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

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.

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.

The move could help expand the use of a program intended to aid underserved renters.

The move would align the Federal Housing Administration with other agencies, including Fannie Mae, Freddie Mac, the USDA, and the National Credit Union Administration.

Now that rates are up and originations are down, mortgage servicing rights can be an increasingly important source of cash and customers for lenders.

The Secured Overnight Financing Rate is a concept in search of an actual forward market, writes Whalen.