Mortgages

In conjunction with an announcement last week, federal agencies will conduct training workshops to help developers, lenders and other stakeholders benefit from the Biden administration's housing supply plan.

The financial institution will pay $350,000 in layoff expenses to leave a business beset by high rates and a crowded playing field relative to current demand.

Futurewave Finance was started by former FHLBank-Chicago executive Steve Thomas, as part of a personal mission to do more to help underprivileged communities.

"It's this tough market that's going to build the greatest leaders of our industry, which we will see come forward over the years to come," said the FHA's former commissioner.

The transactions grew between second and third quarter, with the new-home market seeing one of its largest surges in cash-buying in 13 years.

The number of sellers it works with in the correspondent channel has grown due to pending capital requirements affecting larger depositories' interest in loans.

First American Financial agreed to pay the New York Attorney General $4.5 million to resolve no-poaching agreement allegations; Old Republic, the first, paid just $1 million.

Even though it is less than two years since it allowed Fannie Mae and Freddie Mac to accept such valuations, it is difficult to evaluate their effectiveness without such examinations.

The company posted third-quarter profits of $194 million but gave no details about a potential split of its mortgage business.

For the first time in about 15 months, more new listings came on the market in August on a year-over-year basis, Redfin said.

The company took another net loss but some of its numbers improved as it slashed expenses and prospects improved for distressed loan services.

The median monthly amount on new purchase applications fell for the first time since early summer, according to the Mortgage Bankers Association.

At the same time, the 15-year fixed rate loan rose above 7% for the first time in nearly 23 years, Freddie Mac reported.

The National Association of Realtors' index of contract signings increased 1.1% from a month earlier to 72.6, the group reported Thursday.

That's the higher-end estimate of people who will be eligible for government-related financing when expanded metrics are used as part of an initiative to expand access to homeownership.

After regulators deemed special-purpose credit programs compliant with housing law, their numbers have grown, but lenders are still trying to determine the best way to develop them and achieve their intended purpose.

If the Federal Housing Administration's rulemaking on home equity conversion mortgages were to go into effect as written, borrower contributions would be reduced by thousands of dollars.

News of President Chris Marshall's planned departure at year-end 2024 came amid reports of net servicing gains and the start of a capital raise for an MSR fund.

Home equity investment (HEI) agreements homeowners receive upfront cash payments in exchange for giving an investor a stake in the property and the right to collect returns.

Despite the overall decline, refinances saw an uptick even as rates approached 8%, with volumes up in both conventional and government-sponsored markets, the Mortgage Bankers Association said.