Mortgages

The company said its mortgage subsidiary has pro forma compliance with the pending risk-based capital requirements that other entities claim are difficult to meet.

Delinquencies are on the rise for FHA-backed loans, with nearly 10% of low-credit borrowers in early payment default. Economists and policy experts say this could signal trouble ahead for other credit products.

The closure of its nationwide retail business — which followed the shuttering of its consumer direct business in Q2 — pushed the Florida bank into a $1.4 million loss for the most recent quarter.

The $93 million deal comes one year after Cavco, a manufactured housing construction company itself, completed the purchase of another builder, The Commodore Corp.

About half of the Texas-based lenders' offices are transitioning to American Pacific Mortgage, according to a source.

U.S. pending home sales sank last month by the most since the immediate aftermath of the pandemic, illustrating a swift and steep downturn for a housing market beset by soaring borrowing costs.

The share of home loans late by more than 30 days or in foreclosure in August inched back down to 2.8% from 3% the previous month, according to CoreLogic.

Just because regulators have not initiated any enforcement actions since 2014 doesn't mean they aren't watching.

New York-based broker platform Prevu currently offers buying and selling services in the Northeast, Texas and the West Coast.

Earnings from the real estate investment trust, which primarily invests in agency securitizations, highlight some defensive strategies that proved effective in mitigating risks, but also point to current revenue challenges.

The collapse in U.S. home construction during the third quarter took its biggest chunk from gross domestic product in nearly 15 years as surging mortgage rates dealt a hammer blow to demand.

But the static weekly data in the Freddie Mac survey does not accurately portray the volatility in the market in recent days.

However, from a historical perspective, vacant pre-foreclosure homes remain "nearly extinct" heading into the fourth quarter of this year, according to Attom Data Solutions.

Purchases of new single-family homes decreased 10.9% to a 603,000 annualized pace following an unexpected gain in August, government data showed Wednesday.

The cuts account for 5% of its workforce of 5,791 full-time employees as of the end of June.

The company is positioning itself for further challenges in the mortgage cycle, and considering MSR buying opportunities while keeping in mind that it needs to be cautious about its capital allocations.

However, of those that would choose face-to-face interaction, 40% want it to include a hybrid or fully digital process.

Ongoing weakness in housing markets and the economy has now driven purchase activity to its lowest level since 2015, while overall application numbers decreased for the 10th time in 11 weeks.

Mortgage experts generally expect the switch to open up lending and potentially improve the predictability of loan performance — but some are worried about potential costs.