Mortgages

The opinion heightens the need for servicers to be careful about billing communications, particularly when a distressed loan or foreclosure is involved.

Delays in closing the deal after it was announced in August resulted in the parties' decision to remain separate, although they will still work together.

But for prospective buyers, soaring home prices in April pushed affordability closer to the all-time low set in June 2006.

While the appeal of homeownership and larger spaces led property values in many fire-prone regions to surge to new records, those areas are also seeing more frequent price drops, Redfin says.

The inability to include both types together in standard loan pools has been one of the hurdles to the adoption of digital collateral.

With half-point interest-rate increases all but certain in June and July, Federal Reserve officials are shifting the focus away from a destination on hikes to something that’s trickier to determine and explain: the broader impact of their policies on the economy.

A Salem, Massachusetts, man was found guilty by a federal jury in Boston of a scheme that led to more than $3.8 million in losses to lenders, the U.S. Attorney's Office announced.

But several companies have cuts pending, and overall employment remains strong enough to keep putting some upward pressure on rates.

Risky loan applications had been on the rise for more than a year, according to the analytics firm CoreLogic. Now that activity is slowing down, lenders face a higher risk of fraud, and many could be ill-equipped to handle it.

The inventory shortage is beginning to ease, while demand is slowing due to high prices and rising mortgage rates.

A former account executive sued the company claiming it did not follow its own "Firm 40" policy.

However, in line with promises housing agencies have made to be cautious in their expansion of underwriting, new rules around financing for properties with accessory dwelling units still have several guardrails.

With anticipated Federal Reserve moves already factored in, inflation and jobs data could play a bigger role in driving movement over the near term.

However, higher property values are likely to mitigate any potential large increase in abandonments because troubled borrowers are less likely to walk away.

The largest increases in new listings were in the West and the South, in cities including Austin, Texas, and Phoenix, Arizona.

The effects on nonbanks will depend on the mix between their production and servicing operations, Fitch Ratings said.

In May, buyers in 15 of the 100 largest housing markets paid more than 50% over historic trends, up from 13 in April and 2 in July 2021, a study found.

Refinances and purchases both slowed last week, while average loan sizes registered an uptick.

The firm raised $40 million in a Series A funding round in March and recently touted a valuation of $640 million.

New research by The Federal Reserve Bank of Philadelphia finds post-forbearance options falling short of payment-reduction goals set forth by FHFA and HUD.