Technology

Mortgage rates rose as investors awaited this week’s jobs report and signs that the economy is rebounding after the disruption caused by harsh winter weather.

Company says it it found no evidence of a data breach and that borrowers' personal data "remain secure."

Loan closing delays caused by the attack have forced lenders to pay for rate lock extensions and hedging losses, while home closings funded by purchase mortgages have also been delayed.

Ellie Mae Inc., the provider of software used by lenders to make home loans, said a technical breakdown this week has prevented some mortgages from closing.

Mortgages at the nation's largest financial institutions continued to improve for the fifth consecutive quarter at the end of last year, an indication that 2013 was a steadier year for mortgage portfolios than the quakes seen following the housing crisis.

Contracts to purchase previously owned homes unexpectedly fell in February for an eighth straight month, a sign of further weakness in the industry.

The Federal Housing Administration will require lenders to submit full electronic appraisals for the mortgages it insures — a risk management practice Fannie Mae and Freddie Mac adopted two years ago.

Mortgage rates for 30-year loans rose to a two-month high, increasing borrowing costs for homebuyers as the market’s recovery showed signs of weakening.

With more reliable loan data, Fannie Mae and Freddie Mac would have greater confidence that borrowers would not default. In return, lenders would receive a juicy carrot: fewer buyback requests.

There is growing evidence that Washington is making the same mistake with respect to the housing and mortgage markets.