Mortgages

Wall Street is weighing in on the possible fate of home loan giants Fannie Mae and Freddie Mac, after a fleeting suggestion by Treasury Secretary Scott Bessent earlier this week that the government's stakes could eventually become part of the proposed US sovereign wealth fund.

Effective March 18, the department is retracting eligibility for non-citizens, it announced.

These mortgages held by low credit score borrowers, made up 90% of the rise in the number of loans 30 days or more late on payments, ICE Mortgage Tech said.

While ending mandated consumer rights, lenders can still ask for a reconsideration of value on FHA loans; plus, fair lending laws still apply in these cases.

The institution has been downsizing its portfolio to address deposit runoff as it has shed fintech exposures and worked to gain release from a consent order.

Kind Lending has big plans to grow its retail channel and is signaling this by putting industry veteran Tammy Richards in charge of the operations.

The Fed's wait-and-see approach on what will happen to the U.S. economy, while not directly impacting mortgages, will likely keep those rates elevated.

ICE Mortgage Technology announced additions for its Encompass LOS, while Mortgage Cadence is bringing out a new version of MCP aimed at mid-sized depositories.

The top five banks had a combined unpaid principal balance of more than $26 billion at the end of Q4 2024.

The age of homes, moving preferences and weather risks are all playing a role in the direction of growth prospects for the remodel and renovation industry.