Mortgages

Issuance of new mortgage-backed securities guaranteed by Ginnie Mae has returned to levels last seen during the year monetary policymakers began raising rates.

The administration will release $100 million in grant funds focused on slashing red tape at the state and local levels, and will advance other programs to increase home construction.

Pandemic era changes to credit reporting have dangerously distorted credit scores for mortgage borrowers. The market is in worse shape than we realize, writes a former Federal Housing Finance Agency director.

The change in medical debt reporting initiated by the three credit bureaus did not go far enough as 15 million Americans are still impacted, the groups led by the National Consumer Law Center said.

The FHA-loan market, in particular, saw the share of piggyback originations increase over two years, while the pace of growth in conventional lending was more muted, Corelogic said.

The increase in refinance volume in July took place before the mortgage rate collapse in early August that brought the share to over 25%, Optimal Blue data showed.

Zillow said the share of listings on its platform that offered concessions topped 33% last month, up from 25% a year earlier. 

Risks include pushing debt-to-income ratios too high for qualifying and rising costs leading to defaults, all of which affect the secondary markets.

The top city, Myrtle Beach, S.C., saw a 23.1% rise in the amount of people aged 65 and over moving in.

The financial services regulator believes Mr. Cooper is violating the Fair Debt Collection Practices Act due to its $25 fee for payoff quote statements.

Remax Holdings had net income of $3.7 million, up from $2 million one year prior, but a non-GAAP measure used for the mortgage business showed a near $200,000 increase in losses.

The company's mortgage segment, Zillow Home Loans will be its primary emphasis going forward, leaders said in their earnings report.

The lender and servicer saw origination volume jump to $6.5 billion as of June 30, up from $3.9 billion the previous quarter.

Moderating interest rates in the first quarter led to changing fortunes from 2022 and 2023, a Transunion report said.

Soaring insurance costs may add to escrowed funds that servicers can earn money on in some cases, but higher premiums also could lead to affordability issues.

The move aims to end a conflict between service-related disability benefits and rental assistance. HUD and the Treasury also are looking at tax credit impacts.

The 30-year fixed rate loan was down 26 basis points as investors reacted early in the week to the employment numbers, according to Freddie Mac.

A study shows a need for brokerages to transform their operations, finding that 79% of them will become unprofitable when the National Association of Realtors' settlement reduces commission rates.

Additions to product menus for cash-out refinancings, adjustable-rate loans and jumbos drive the increase in availability, the Mortgage Bankers Association said.

The Treasury, CFPB and Federal Trade Commission are joining forces to warn consumers about predatory practices in financing solar energy panels.