Despite rising home prices and a market where many older homeowners are loath to sell, home equity line of credit lending remains muted in all but one corner of the industry: credit unions.
Critics of recent False Claims Act enforcement argue the Justice Department is too heavy-handed toward lenders and servicers. But in an industry reputed for shoddy processes during the crisis, perhaps stringent oversight is warranted.
Mortgage rates dropped to their lowest point in six weeks as bond investors were concerned about inflation and the U.S. economy, according to Freddie Mac.
Mortgage application volume increased 3% from one week earlier as slightly lower interest rates resulted in more refinance activity, according to the Mortgage Bankers Association.
