Mortgages

New guidelines should provide homeownership opportunities for certain consumer segments with thin credit files and open up product options, lenders said.

The 30-year fixed-rate mortgage rose five basis points from last week to 6.22%, while the 15-year rate increased nine basis points to 5.50%

UWM Holdings set a single-day record for rate locks in September at $4.8 billion, taking advantage of the window of opportunity leading up to the FOMC meeting.

The company posted its best quarter for funded loan volume and shared other green shoots including greater margins on less reverse mortgage business.

In markets across the US, homebuilders sitting on unsold inventory are subsidizing mortgage rates so heavily they sometimes match the record lows last seen during the Covid-19 pandemic.

Industry professionals shared stories of homeowners looking to get out and investors pausing deals, while others cautioned a wait-and-see approach.

The lender reported $33.3 million in net income in the third quarter this year, up from the second quarter and same period a year earlier.

The latest sale consists of close to 1,200 HECMs secured by vacant residential units found in 46 states, according to data provided by the government agency.

What makes the situation alarming is the government attack on the fair lending enforcement infrastructure, said Lisa Rice of the National Fair Housing Alliance.

Private-sector payrolls increased by 42,000 after a revised 29,000 decline a month earlier, according to ADP Research data released Wednesday.

Treasuries fell after the US government signaled that larger auction sizes are on the horizon, while signs of economic resilience hurt the odds a Federal Reserve interest-rate cut in December.

Southern states' government-sponsored enterprise share lags outside of a small number of metros, the Center for Mortgage Access' analysis of HMDA data shows.

Home price modeling changes hurt FOA's third-quarter interim results but it was in the black between January and September on a continuing operations basis.

While FHFA reduced most of the single-family low-income goals, the MBA wants the refinance target for Fannie Mae and Freddie Mac cut as well, its letter said.

The latest case comes after at least three other zombie lawsuits in the past year, with the owner of the loan in question claiming $173,000 in past-due interest.

Newer automation that can serve as a wraparound to existing technology can cut servicing costs in a competitive industry, according to fintech executives.

The age at which people purchase their first home has climbed rapidly since 2021, when the median was 33, according to a National Association of Realtors survey of transactions from July 2024 through June.

Now that quantitative tightening is ending, the debate on who should be the MBS buyer of last resort, Fannie Mae and Freddie Mac, or the Fed, is taking hold

Refinancing pushed mortgage originations higher as rates eased, and home equity lending kept growing, but rising delinquencies signal mounting borrower stress.

Financial literacy advocate John Hope Bryant has joined with a Los Angeles-based developer in an effort to raise up to $300 million from banks to preserve and construct low-income housing around the country.