Mortgages

The firm will turn its focus toward its commercial, home improvement and reverse lending platforms along with portfolio management and other lender services.

The mortgage subsidiary of PlainsCapital Bank also said it had reduced its headcount by 23% in the past year.

The parent company Ocwen is contesting the award from the arbitrator, who ruled the company made a false offer to the borrower.

The transaction allows for portfolio defense as well as supporting Marlin's move into Ginnie Mae servicing.

The delay acknowledges concerns some companies and trade groups have had about compliance with the requirement.

But a cooling housing market opened up buying opportunities for some and helped drive the share of FHA-backed purchases upward for the first time in a year, according to new Attom research.

The companies formed a partnership in 2019, in which the lender would handle mortgage processing, underwriting and closing for the digital-only bank.

However, the benchmark 10-year Treasury has been above 4% on a sustained basis for most of the prior week, gaining 18 bps, an indication of future increases for home loans.

The Community Home Lenders of America's latest report finds that independent mortgage banks picked up the slack as many large banks abandoned mortgage lending or imposed credit overlays, two of its members say.

Sales of previously owned U.S. homes fell for an eighth straight month in September, underscoring how soaring mortgage rates are punishing the housing market. 

The numbers contrast other loan performance statistics that show payments that have been late for less than 90 days have been creeping up a little.

Close to 60,000 home-purchase agreements were canceled in September

Approximately two years after Fannie Mae and Freddie Mac stopped accepting the troubled index, the government agency is looking to approve the Structured Overnight Financing Rate for adjustable rate mortgages.

The automation provider, which could merge with ICE Mortgage next year, is updating secondary market tools sorely needed in a volatile market.

Higher interest rates are driving borrowers to adjustable-rate loans, which saw close to a 13% share in weekly activity, the highest since 2008.

New U.S. home construction declined in September and permit applications for single-family dwellings fell, adding to evidence that the highest mortgage rates in two decades are sapping demand and discouraging new builds.

The new product will be based on a recent revision to the Department of Veterans Affairs' handbook for lenders, according to the company.

The single-family house, located in South Carolina, was sold to an investor for $176,200 last month.

As higher mortgage rates bite harder, the number of metro Atlanta home sales in September fell and the selling prices stopped rising.

The agency is currently using upper ceilings set in the Housing and Economic Recovery Act of 2008.