Mortgages

The move by the government bond insurer may pave the way for waivers of late fees, forbearance, modifications and foreclosure bans as the U.S. contends with damage from recent hurricanes.

Sales of co-ops and condos dropped 3.7% in the third quarter from the previous three months and more than 18% from a year earlier, appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate said in a report Tuesday.

The latter company helped build a platform that served a similar purpose for a nonprofit entity during the Great Recession, and later continued to support an updated version of that technology.

Other offerings update the company's platform for hybrid and virtual closings, and allow borrowers to get an appraisal waiver pre-check before submitting a loan.

Median home prices fell 0.98% in August from a month earlier, following a 1.05% drop in July, Black Knight Inc. said in a report Monday.

The tempering of growth is a result of mortgage rates jumping and inflation, a report found.

Wind and storm surge damage to residential and commercial properties could reach $47 billion, according to a CoreLogic analysis.

After resolving a longstanding consent order from the Office of the Comptroller of the Currency and a shareholder lawsuit, Sterling Bank's CEO — an experienced turnaround artist — says the bank is largely done fixing the fallout from its fraud-ridden Advantage Loan program.

The rise in rates over the past six weeks pushed the borrower's monthly disbursement up $337, Redfin said.

Methods to combat the discrimination include lender disclosures explaining the process, industry guidance around reconsiderations of value, uniform 3D property scans and more automated valuation models easier to audit than manual valuations.

The partnership is starting off small but ultimately aims to sell real estate through non-fungible tokens on a broader scale than others have in the past.

But those looking for news about a possible reduction in the mortgage insurance premium are still waiting.

The difficult job of rebuilding communities pummeled by Hurricane Ian is expected to be made even worse by a problem that's lingered since the early days of the pandemic: snarled supply chains.

The Federal Housing Finance Agency got an earful from housing experts at a listening session intended to aid a comprehensive review of the financing system.

Three percent of all mortgages were 30 or more days past due on their scheduled payment or in foreclosure in July.

SPCPs are posed as an equitable housing solution but hesitation and confusion about them is persistent in the mortgage industry, housing finance experts said.

The 30-year fixed rate is now at levels last seen in the summer of 2007, according to data from Freddie Mac.

U.S. pending home sales fell in August for the seventh time this year, extending the housing market's downturn as high borrowing costs sideline prospective buyers.

The mortgage company plans to buy some of this servicing and also invest in building out technology and default services, Chairman and CEO Jay Bray told attendees at an industry conference.

Over 1 million single-family and multifamily homes along the coast are at risk of storm surge damage.