Mortgages

Pingora Loan Servicing still hasn’t disclosed the full scope of last fall’s hack impacting at least 169,000 customers across four states.

Revenue was also slashed by lower per-employee productivity and slipping application pull-through.

Mortgage Cadence, the No. 3 loan origination system provider, believes it will pick up market share among nonbanks if the deal between the two heavyweight entities goes through.

Sales of new U.S. homes plummeted in April by the most in nearly nine years, dented by the combination of high prices and a steep climb in mortgage rates.

Yields have jumped so much this year, nearly doubling those on 10-year Treasuries, that it recalls past buying opportunities that paid off when the tide turned.

Former FHFA director Mark Calabria said the mortgage market was a “ticking time bomb” on track for a 2008-like crisis. Other experts foresee a tamer end to the bull housing market.

Investors could gravitate to a company willing to invest in itself in a challenging market , but share repurchases have downsides.

Federal Reserve Bank of Atlanta President Raphael Bostic said policy makers could potentially pause interest-rate increases in September after hiking by a half point at each of their next two meetings.

The nation's largest bank indicated Monday that it may again offer home equity lines of credit to a wide audience. Rising mortgage rates have made the product more attractive after a long drought when low rates suppressed demand.

First quarter gain-on-sale at nine originators tracked by Keefe, Bruyette & Woods averaged 149 basis points, much higher than the 5 bps recorded for independent mortgage bankers tracked by the MBA.

The world’s richest nation is waking up to an unpleasant and unfamiliar sensation: It’s getting poorer.

The generation usually targets starter homes in these cities, which are often listed among the nation’s trendiest.

While the number of loans with payments that have been late for three months or more has fallen, it’s still higher than in early 2020, according to Black Knight.

This second group of terminations will take place in June and July, according to nine separate notifications filed in California.

Companies are working to offer what they say are faster, more integrated digital products that can quickly stand up compliant workflows as forbearance is phased out and loss mitigation activity resumes.

The total number of short-term rentals of entire homes in the city’s five boroughs — those listed on Airbnb Inc. and Expedia Group Inc.’s Vrbo — is more than 13,000, according to third-party data tracker AirDNA. Meanwhile, rental inventory in Manhattan, Brooklyn and a portion of Queens hovers just over 7,500, according to an April report from broker Douglas Elliman Real Estate.

Without sustained price relief, a downturn is possible for later this year, rather than in the second half of 2023.

At the Mortgage Bankers Association Secondary Conference this week, issuers noted their concern about rising delinquency levels, accusations of racial bias in lending, and whether regulators in Albany and Washington are preparing a new campaign against “abuses” in mortgage servicing, the chairman of Whalen Global Advisors writes.

Current volatility has contributed to slowdowns across the industry, with further reduced originations now predicted for the year.

Contract closings decreased 2.4% in April from the prior month to an annualized 5.61 million, figures from the National Association of Realtors showed Thursday.