Mortgages

But the company took a credit loss provision in the fourth quarter, deciding to add to its reserves because of new mortgage acquisitions to its portfolio.

A series of moves aimed at deleveraging its balance sheet led to the loss, but the bottom line improved markedly over 2023.

Foreclosure filings increased 7% in January from December, which could be a housing market starting to experience trouble, or a post-holiday return to normal.

The company more than doubled results over comparable periods and exceeded estimates due to stronger economies of scale and valuation adjustments in its favor.

The latest refinance surge helped lift total application activity up for a second straight week, even as purchases fell, the Mortgage Bankers Association said.

Plaintiffs alleging the lender manipulated home valuations ten years prior argued the interpretation of the rule cited in determining the case's standing was a stretch.

Lenders increased offerings in jumbo and non-QM segments as the industry focuses on customers with strong credit, the Mortgage Bankers Association said.

The MBA disclosed the year-end rankings of income-producing mortgage servicers at its yearly conference for this part of the industry.

Similar import taxes on steel and aluminum were imposed by President Trump during his first term, albeit at a lower rate for the latter material.

The government-sponsored enterprises were not meant to remain in conservatorship permanently, but privatizing them once again must include a new set of rules that minimize market disruptions and maximize their focus on making homeownership affordable.