Mortgages

Despite ending 2022 in the red, the lender and servicer saw full-year profits exceed 2021's total.

More than half of pandemic gains have been erased, but how the mix of stronger than expected overall employment and other developments will affect rates remains uncertain.

An analysis of HMDA data from 2018 to 2020 found a correlation between age and mortgage application outcomes.

The company wound down its wholesale production channel and is surrendering its Fannie Mae and Freddie Mac seller/servicer status.

The REIT failed to post profits in any quarter last year, as the mortgage industry encountered a steep originations slowdown.

By the end of December, 63% of borrowers saw home values increase by 7.3%, for a collective gain of $1 trillion, CoreLogic's report found.

The 30-year fixed pushed up another 8 basis points this week as the markets are speculating about what the Federal Reserve will do next.

Completions also declined in the short-term, but annually they rose sharply, suggesting that the lifting of some pandemic restrictions is allowing them to proceed.

The company lost $163.7 million last year as funded origination volume fell 71% annually to $27.6 billion in 2022.

The company was accused of not providing pandemic relief to at least 160 private mortgage borrowers in the state.

Executives at the company pointed to market volatility, year-end seasonality and its exit from the wholesale channel as reasons for the deficit.

The top five depositories have a combined second lien dollar volume of more than $88 billion as of September 30, 2022.

The Consumer Financial Protection Bureau issued a new report on junk fees and CFPB Director Rohit Chopra spoke at a White House virtual meeting encouraging states to tackle the proliferation of junk fees through legislation.

The new policy will provide more leeway to distressed borrowers, whose ability to get more affordable terms for their loans has been hamstrung by higher rates.

The increase in federally backed loan activity helped drive overall volumes upward for the first time since early February, even as interest rates jumped again, according to the Mortgage Bankers Association.

The Federal Reserve chairman took an unexpectedly aggressive posture following last month's step down in the pace of hikes in testimony before Congress on Tuesday,

The share of consumers worried about potential job loss spiked to its highest point in 12 months, leading to a downturn in outlook, according to Fannie Mae.

The announcement came as a Federal Trade Commission suit to halt the deal became more likely.

The new special purpose credit program is part of efforts to reduce the racial gap in homeownership and offers assistance to borrowers who meet certain income and location requirements.

A legal filing could come as soon as Thursday, sources close to the matter claimed.