Mortgages

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.

Since the start of the year, values have pushed upward at a marked pace, separate reports from the Federal Housing Finance Agency and S&P CoreLogic Case-Shiller declared.

The total value of U.S. housing rose more than $2.6 trillion in the past year, Zillow said, defying predictions that higher borrowing costs would lead to a prolonged slump.

The triple threat of tight supply, elevated prices and historically high mortgage rates continues to weigh on sales, even as home builders are offering incentives to potential buyers.

ACI Payments already agreed to pay a $25 million federal fine and fund a $5 million settlement to resolve seven class action consumer lawsuits when it accidentally triggered mortgage payment withdrawals.

Reluctance to eliminate staff with the hope that business will turn around has been a driver of the multiple quarter stretch of industry losses, its latest study of mortgage lenders found.

CrossCountry Mortgage, American Pacific Mortgage and Fairway Independent Mortgage run their shops this way.

Credit ratings were cut on the highest number of commercial mortgage-backed securities in "recent memory" last week, according to strategists at Bank of America Corp.

Georgia United Credit Union is collaborating with the income-verification fintech Argyle to combat submissions of false documents and other crimes.

Serious delinquencies remain on the decline, but an increase took place in more recent buckets of 30 and 60 days.

A combination of economic and environmental factors are sending property and flood coverage premiums soaring, which can make costs insurmountable for some.

More than one securitization per month resulting from multiple disbursements of a single loan will be permitted beginning Oct. 1, the guarantor said.

While industry economics are getting better, higher rates in a purchase-focused environment can contribute to an increase in manufacturing errors.

The threat of instability from that group is immaterial in comparison to the existential risk created by the U.S. Treasury, argues the chairman of Whalen Global Advisors.

Since 2019, distressed loans have increased 77%, but it is just a small portion of the $691 billion currently outstanding.

The agreement between The Work Number business unit and Iris Software Group could ease employment and income verification for up to 1 million consumers, the credit-reporting agency said.

The proposal by a regulator overseeing government-related loan buyers could cut companies with small infractions off from a key source of business, groups say.

The morning after, the benchmark 10-year Treasury yield touched a 52-week high, but Freddie Mac reported a 1 basis point jump.

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