Mortgages

In a letter addressed to the heads of the agency and of Ginnie Mae, the association asked them to consider recommendations made by a former government housing policy leader.

The amounts canceled may not clear away enough debt to help all recipients immediately qualify or improve their ability to repay, but over time the savings may bolster originations and performance.

The software for lenders is a bright spot for the fintech, which is reeling from a difficult second quarter in which it recorded a heavy loss due to an assessment of its title business.

Home Partners of America, the single-family landlord owned by Blackstone Inc., will stop buying homes in 38 US cities, becoming the latest institutional investor to back away from an overheated housing market.

The company, which provides "buy before you sell" and cash offer financing, cited a challenging real estate market and grim venture-capital outlook.

Better-than-expected economic data helped lead to the steep acceleration of the 30-year average, while the 15-year also shot up.

U.S. pending home sales fell in July for the sixth time this year to the lowest level since the start of the pandemic, extending the housing market's sharp downturn as high borrowing costs sideline prospective buyers.

The number of these mortgage borrowers getting back on track with payments has been roughly halved since March, according to Black Knight's initial take on July numbers.

Traditional metrics provide limited insight as to whether a portfolio is on its way to reperformance, so instead of tracking things like calls per employee, measure the number of homeowners helped.

Sales of new US homes fell in July for the sixth time this year to the slowest pace since early 2016, extending a months-long deterioration in the housing market fueled by high borrowing costs and a pullback in demand.

Government-backed applications picked up despite rising rates last week, but a decline in conventional loans drove overall volumes down.

Bank lending activity grew at a strong clip in the second quarter and continues to expand. Yet rising interest rates and recession concerns could hamper future growth.

A contested home valuation was based on the professional's "racist beliefs" and eschewed industry standards with comparisons of properties away from the majority-white neighborhood, according to the lawsuit.

Updated counterparty requirements recently coordinated with the Federal Housing Finance Agency affect a constituency that has kept growing, albeit at a slightly slower pace, according to new mortgage-backed securities research.

The announcement comes as interest in Federal Home Loan bank funding has experienced a resurgence, with advances up 48% in the first six months this year.

Some housing numbers have been weaker than expected because affordability remains relatively low, outweighing slightly higher refinancing that has an upside for lenders but a potential downside for servicers.

Activity is coming in at or below 2020 levels according to reports from the Mortgage Bankers Association and Redfin.

Automating rent-based underwriting for single-family loans and offering incentives for multifamily borrowers who accept housing vouchers are just two ways Fannie Mae and Freddie Mac are tackling the challenge of equitable housing.

Both bank and nonbanks are starting in — or returning to — this segment as they look to make up for declining originations. But there are a few key issues to consider before taking on the new line of business.