Mortgages

The top five subservicers that are depositories had a combined unpaid principal balance of more than $1.8 trillion at the end of Q4 2023.

The move comes three months after Katie Sweeney, former BAC CEO, announced she would be stepping into an executive advocacy role for Rocket's Pro channel.

Pres. Trump's decision to pause most of the tariffs has sparked a rally in the stock market, but the 10-year yield, while off of its peak, remains higher.

With prices possibly rising over 4% through next year, respondents to a Fall 2024 survey said they would turn to their investment portfolios to fund the down and monthly payments.

A pullback from US Treasuries sent longer-term yields surging by the most since pandemic struck in 2020, deepening losses in what's supposed to be a haven from financial turmoil and roiling markets abroad as investors sell government bonds to raise cash.

US mortgage rates fell to the lowest level since October, spurred by a rally in government bonds in the wake of an escalating trade war and driving home purchase applications to a more than one-year high.

Wholesale firm Ardri's acquisition of The Lending Spot comes after the company installed a mortgage industry veteran as its new president earlier this year.

Refinancings, particularly the cash-out version, helped to drive mortgage product availability and rate lock activity during March, separate reports found.

Insurers had already doled out more than $12 billion to pay for wildfire damages as of early March, according to California state officials.

The top five banks have a combined HELOC volume of more than $90 billion at the end of Q4 2024.