Mortgages

The mortgage numbers are a welcome boost to a market that has struggled to overcome high costs and prolonged economic uncertainty.

Prior to the earnings release, Finance of America announced it was buying out Blackstone's equity stake in the mortgage lender for $80 million.

Groups like the Mortgage Bankers Association and National Housing Conference welcomed the decision to increase the secondary market for the credits.

Americans now hold $34.5T in home equity, fueling a surge in home equity loans as lenders race to capitalize on rising property values.

GSE loans acquired in the period have higher loan-to-value and debt-to-income ratios and lower credit scores, which Milliman said boosted serious default risk.

Volatility hiked MSR hedging costs and hurt origination margins. But net income to common shareholders almost matched that seen during the previous quarter.

Shellpoint Mortgage Servicing said it "unfortunately" ok'd the transaction when an individual posed as a homeowner using state and federal identifications.

President Trump and his administration have begun to scrap new mortgage lending guidelines that made it easier for home buyers and sellers to dispute property appraisals, finding that homes owned by racial minorities are routinely valued lower than comparable homes with white owners. But despite the promised regulatory relief, many mortgage lenders say the regulatory changes will not impact their lending practices.

Cassidy, whose experience is in multifamily, is currently HUD principal deputy assistant secretary, running the government insurer on an acting basis.

The legislation will prohibit credit companies from consumer's data to third-party lenders in what advocates say is a win for consumer privacy.