Mortgages

The gain on sale from first quarter originations increased as the bank shifted more volume share to the higher-margin channel.

Meanwhile, adjustable-rate mortgages saw their largest volume share since 2019.

California Attorney General Rob Bonta and 21 other AGs urged the Consumer Financial Protection Bureau to include consumer costs for certain mortgage payment services in a review of "junk" charges.

Even though the majority of forbearance plans have ended, late payments continued their downward trend in January.

The repository is a "single source of truth" lenders can use to learn about aspects of digital mortgage acceptance including by jurisdiction and wholesale lender.

Lakeview Loan Servicing is facing eight class action lawsuits from borrowers who claim the company was negligent in protecting their information, including Social Security numbers.

The numbers suggest depositories are finding it easier than non-depositories to qualify their borrowers for foreclosure prevention programs as forbearance recedes.

Suburban pushback against a proposal that would have loosened regulations of new units in New York State led to its removal from the state budget.

But it was the second-most successful year ever for IMB originations since the Mortgage Bankers Association began collecting this data in 2008.

Ten-year U.S. yields climbed through 2.75% for the first time since March 2019 as investors priced in the impact of the Federal Reserve’s tightening plan and accelerating inflation.

The company partially backed by Wells Fargo will integrate the technology in its point of sales software, which they say is used by more than 350 institutions.

Purchasers concerned over rising costs are jumping into the market now instead of taking a wait-and-see posture.

A former Wells Fargo executive will replace Bair next month as part of a broader shakeup of the government-sponsored lender's leadership ranks. Chief Executive Hugh Frater is also stepping down.

The municipality and the bank have been at odds over similar issues in the past, and no agency currently has deposit accounts with the lender.

One company that has responded with a new product thinks it can avoid roadblocks past attempts encountered by coupling automation with errors-and-omissions insurance.

The Eleventh Circuit Court of Appeal split hairs and said each allegation must be examined to see whether it was not covered by the National Mortgage Settlement.

Chief Technology Officer Diane Yu joins a growing number of C-suite personnel leaving the New York-based mortgage lender in recent months.

The government-sponsored enterprise will now accept a written opinion from an attorney in lieu of a policy for some transactions.

Originators offered fewer high loan-to-value and lower credit-score products, but jumbo offerings increased for the 10th time in 12 months, the Mortgage Bankers Association said.

Further upward pressure is likely this spring, as markets prepare for expected reduction of bond purchases by the Fed.