Given that we have the somewhat unpopular job of reporting that today’s average top-tier 30yr fixed mortgage rate is 6.00 again, rather than the 5.99 seen earlier this week, we can at least find one glowingly positive development as a silver lining. In fact, the silver lining is more than a consolation prize. It’s actually […]
Best Week For Mortgage Rates in Years Read More »
Rocket Cos. ended what has been a monumental year for the company with significantly reduced fourth quarter earnings contributing to a loss for all of 2025. Processing Content GAAP net income of $68 million compared with a net loss of $124 million in the third quarter but net income of $649 million in the fourth
Rocket’s acquisitions lift Q4, 2025 still down Read More »
Mortgage-backed securities purchases became the current focus of near-term plans for Fannie Mae and Freddie Mac due to lower-than-anticipated valuations for a planned stock offering, a housing official told Fox Business. Processing Content “Today some people say the businesses are worth up to $1 trillion. They’re worth $500 billion to $700 billion, we believe,” Federal
Trump’s $200B MBS plan set off by GSE valuation gap: Pulte Read More »
Rocket Mortgage is partnering with Compass to share listings on Redfin, in a major deal which also includes pricing promotions. Processing Content The companies Thursday announced a 3-year partnership for Compass to share its “Coming Soon” and “Private Exclusive” listings to Redfin, which they said could bring over 500,000 more listings on Redfin. Rocket offerings
Rocket, Compass join forces on Redfin listings Read More »
The national delinquency rate cooled last month, while foreclosure activity hit its highest level since early 2020, a new industry report shows. Processing Content Delinquencies fell by three basis points to 3.65% in January, 15 basis points below prepandemic levels, but foreclosure starts caught up with its 2020 numbers last month, totaling 42,000, according to
Foreclosure starts surge to early 2020 levels Read More »
Key insight: The core of both the Senate and House versions of the legislation aim to increase the supply of housing, but a slew of bipartisan riders in the House version have been opposed by some Democrats in the upper chamber. What’s at stake: The House version has a number of bank-favored riders, like brokered
Senate tees up housing bill, but what’s in it is unclear Read More »
Homebuyer affordability worsened in January for the first time in seven months, despite mortgage rates hitting a three-year low. Processing Content The national median payment applied for by purchase applicants rose from $2,025 in December to $2,070 last month, according to the Mortgage Bankers Association’s Purchase Applications Payment Index. That’s on par with levels recorded
Homebuyer affordability dips after seven-month run Read More »
Loancare can’t shake allegations that it mishandled borrowers’ mortgage prepayments, after a federal appeals court gave new life to a longstanding class action complaint. Processing Content The servicer will have to relitigate claims that it delayed customers’ prepayments toward unpaid principal balances in order to accrue unearned interest. Three justices of the 4th Circuit U.S.
LoanCare faces revived class action on prepayments Read More »
Key insight: A bill offered by Sens. Catherine Cortez Masto, D-Nev., and Todd Young, R-Ind., would allow Federal Home Loan bank members to set up tax-exempt bonds for community development projects, much the same way they already do for housing projects. Expert quote: “For too long, communities across the country have had a hard time
Exclusive: Lawmakers introduce bipartisan FHLB bond bill Read More »
Oregon’s Willamette Valley Bank announced it is exiting mortgage lending, pointing to challenges facing small institutions and macroeconomic concerns behind its decision. Processing Content The community bank, based in Salem, Oregon, will formally end residential lending operations on March 31. Along with four full-service branches across the state, Willamette Valley also runs five designated home
Oregon community bank ceases mortgage operations Read More »