Mortgages

While consumer distress in auto and personal loans also picked up, the pace of growth among mortgages was atypical, Vantagescore's monthly credit gauge said.

Subservicer Cenlar moved into the O'Fallon, Missouri offices Citigroup's mortgage business occupied until the latter deemphasized servicing in 2017.

The 30-year fixed rate mortgage is below 6.8% for the first time since May as the 10-year Treasury moved lower with the headlines of the past week.

The department's move is the latest HUD decision aligning with the Trump administration's deregulatory strategy that targets many ESG programs.

Lenders have been working to shrink their rent-regulated real estate loan portfolios since a watershed state law passed in 2019, but those plans may be accelerated.

A rally in short-dated Treasuries gathered pace Thursday after a raft of US economic data on balance favored wagers on as many as three Federal Reserve interest-rate cuts this year.

Real estate was the worst-performing sector in the S&P 500 Index on Wednesday and Wall Street analysts pointed to the electoral result for the nation's biggest city as a key reason. 

Mortgage applications rose 1.1% last week, with borrowers most interested in FHA loans and refinancing.

The company gave no reason for his abrupt departure, which comes two months after the CEO of its parent First American Financial, Kenneth DiGiorgio, was fired.

Nonbank mortgage companies are regulated on the state level, but multistate examinations allow for virtual nationwide and industry-wide coverage.