Mortgages

Institutions obtaining financing from the FHLB that's secured by their mortgages can now use the advanced score to underwrite collateral loans.

In a surprise move this week, banking veteran Sandro DiNello was appointed executive chairman of the embattled Long Island-based company, whose stock plummeted in the face of questions about its financial health.

An increase in conventional lending products drove the upturn, but the overall reading of the Mortgage Bankers Association index still landed near the longtime low from late 2023.

The year-over-year gain was 1.3 percentage points higher in the most recent period compared with the third quarter last year, the National Association of Realtors found.

Other servicing gains helped Mr. Cooper profit despite negative mark-to-market valuations and cyberattack costs that led to lower consecutive-quarter results.

Only a few dozen mortgage firms could likely afford the $7 million ad for this year's big game, a marketing veteran said.

The quarterly rise in late payments on Federal Housing Administration loans was more than five times the increase for home loans overall.

The wholesale giant meanwhile is suing four partners for selling loans to Rocket Mortgage and Fairway Independent Mortgage Corp., in violation of its 2021 decree.

The original lawsuit was one of several filed in 2014 in a coordinated effort among federal and state regulators aimed at fraudsters trying to cheat distressed mortgage borrowers.

Fannie Mae is implementing a new prohibition for traditional valuations and addressing the possibility of the National Flood Insurance Program lapsing.