Mortgages

Federal housing authorities persuaded Texas Capital Bancshares to help with the fallout from a bankrupt reverse-mortgage provider, then went back on their promises of financial support, the company says in a new lawsuit.

Loan activity fell for a second consecutive week, dropping to levels last seen in 1996, as a potential government shutdown loomed.

The top five lenders have a combined retail home loan volume of more than $29 billion at the end of Q2 2023.

The share of residential property buyers that put themselves in the most optimistic category jumped notably in the latest edition of an RCN survey.

After 139 consecutive months of rising values, a change in the pattern could slowly emerge.

The class action case, first brought up in 2020, accused Lakeview Loan Servicing and LoanCare of violating the Texas Debt Collection Act by charging "junk" fees.

The company is in a bidding war for Sculptor Capital, which in turn is supposed to unlock a spin-out for the mortgage business that this transaction helps build.

The major player has now acted more quickly than its biggest rival on this count two years in a row, after lagging behind two competitors in 2021.

A half dozen experts shared advice for financial advisors and clients who are buying, selling or refinancing homes.

Lenders could gain efficiencies from advances in artificial intelligence as the related development of alternative data potentially opens up the market to more borrowers, but hurdles exist.

In July, month-to-month missed payments increased but improved on an annual basis because a lower share of borrowers were 90 days or more late.

The rise in the number of reductions runs against typical seasonal norms, Redfin said.

Policymakers should instead focus on how different components of core inflation are decelerating — with cooling still needed especially in housing inflation.

MSP users who are not Encompass customers are a particular target and vice versa, ICE Mortgage Technology chair Ben Jackson said.

Public policy experts debated the effect of rising rates on the mortgage market, the impact on homebuyers and ways that Fannie Mae and Freddie Mac could exit conservatorship at the National Mortgage News Digital Mortgage Conference.

Even as Freddie Mac's survey put rates at their highest since December 2000, factors like rising oil prices and a government shutdown could slow the economy.

The government-sponsored enterprise has created a Spanish-language version of its HomeView program.

The month-to-month decline was larger than all estimates received by Bloomberg in a survey of economists.

On a week-to-week basis, new application activity fell by 1.3%, with purchase volume off 2%, the Mortgage Bankers Association found.

The rise in rates — 10-year Treasury yields are up over a percentage point since mid-May — is one of a series of shocks buffeting what's been a surprisingly resilient economy.