Mortgages

The new interface for Intercontinental Exchange's recently acquired and widely used Mortgage Servicing Package system aims to offer a more intuitive workflow.

Dan Sogorka steps aside after four years, remaining as an advisor until he moves to a new opportunity.

One depository has now joined two nonbanks in publicly announcing they're using the advanced score ahead of planned broader implementation by the agency market.

The volume of loans coming due swelled 40% from an earlier estimate by the Mortgage Bankers Association of $659 billion, a surge attributed to loan extensions and other delays rather than new transactions.

State distribution of the Treasury funds for distressed homeowners is now reportedly at least two-thirds complete.

January volume increased 36% compared to the month before and the annual decline in activity was the lowest in almost two years, Optimal Blue said.

The five states with the lowest average realtor commission have an average rate of 4.94%.

Originators have questioned the new CEO's use of trigger leads in his own business.

In the derivatives markets, they've started pricing in that the Fed will carry out just four — or five at the most — quarter-point rate cuts in 2024, only slightly more than the three penciled in by policymakers.

Institutions obtaining financing from the FHLB that's secured by their mortgages can now use the advanced score to underwrite collateral loans.

In a surprise move this week, banking veteran Sandro DiNello was appointed executive chairman of the embattled Long Island-based company, whose stock plummeted in the face of questions about its financial health.

An increase in conventional lending products drove the upturn, but the overall reading of the Mortgage Bankers Association index still landed near the longtime low from late 2023.

The year-over-year gain was 1.3 percentage points higher in the most recent period compared with the third quarter last year, the National Association of Realtors found.

Other servicing gains helped Mr. Cooper profit despite negative mark-to-market valuations and cyberattack costs that led to lower consecutive-quarter results.

Only a few dozen mortgage firms could likely afford the $7 million ad for this year's big game, a marketing veteran said.

The quarterly rise in late payments on Federal Housing Administration loans was more than five times the increase for home loans overall.

The wholesale giant meanwhile is suing four partners for selling loans to Rocket Mortgage and Fairway Independent Mortgage Corp., in violation of its 2021 decree.

The original lawsuit was one of several filed in 2014 in a coordinated effort among federal and state regulators aimed at fraudsters trying to cheat distressed mortgage borrowers.

Fannie Mae is implementing a new prohibition for traditional valuations and addressing the possibility of the National Flood Insurance Program lapsing.

The Financial Stability Oversight Council is concerned over liquidity of these companies, especially if a warehouse lender was to pull its lines, leading to a failure.