Prepayment speeds increased last month on the back of falling interest rates, but seriously delinquent loan volumes also rose the highest amount since June 2022, and the most since June 2018 when excluding the immediate effect of COVID-19. Processing Content The national delinquency rate ticked up seven basis points to 3.72% last month, as the […]
Seriously delinquent loans hit highest level since 2022 Read More »
Two influential groups in the home finance space have teamed up to provide information standards that will streamline title and mortgage closing processes. Processing Content The Mortgage Industry Standards Maintenance Organization and American Land Title Association announced the publication of two new datasets, both of which should form a digital convention for documentation to benefit
MISMO, ALTA issue new title, settlement document guidelines Read More »
Senator Josh Hawley, a Republican from Missouri, during a hearing on Wednesday, April 17, 2024. Photographer: Graeme Sloan/BloombergGraeme Sloan/Bloomberg A Republican senator launched a new investigation into the leading provider of mortgage borrower credit scores, reiterating prior criticism of a “monopoly” he says proves detrimental to aspiring home buyers. Processing Content Alongside his own investigation
Senator calls for FTC investigation into FICO score pricing Read More »
Part of a recent executive order from President Trump that calls for potential changes to the qualified mortgage definition and its safe harbor could increase competition for certain types of loans, depending on how and if it progresses. Processing Content Changes that the broader mortgage credit order calls for include having the Consumer Financial Protection
How Trump’s EO could redraw QM’s safe harbor lines Read More »
Despite mortgage rates reaching nearly 4-year lows last month, the gap between sellers and buyers in the housing market grew to its largest size on record. Processing Content There were an estimated 630,000, or 46.3%, more home sellers than buyers in the United States in February, according to a new Redfin report. That is the
Sellers outnumber buyers by record margin in February Read More »
One of the targets of the Federal Housing Finance Agency’s mortgage fraud probes is dropping his lawsuit against the regulator and its leader. Processing Content Rep. Eric Swalwell, D-Calif., FHFA Director Bill Pulte and the agency itself have all agreed to voluntarily dismiss the lawmaker’s suit, according to a case filing Friday. The announcement did
Swalwell drops Pulte suit while FHFA fraud probes stall Read More »
With mortgage rates expected to hover near current levels for much of 2026, lenders shouldn’t count on rate drops to drive originations growth — and a panel of leading economists at Intercontinental Exchange’s ICE Experience conference in Las Vegas this week made clear where volume will actually come from. Processing Content “We’re essentially back in
Forget rate drops — here’s where mortgage volume will come from Read More »
Lower is both plaintiff and defendant in two new poaching lawsuits. Processing Content Two federal complaints involving the lender filed Tuesday invoke claims of tortious interference, in employees violating their non-solicitation agreements. The company sued Atlantic Coast Mortgage in an Ohio court, while Chicago-based The Federal Saving Bank sued Lower in a Maryland forum. The
Lower is the target, and victim, in two new poaching suits Read More »
Yields on the 10-year Treasury, after a brief dip at the start of the week, returned to the upper 4.2% range, even briefly breaking 4.3%, in reaction to inflationary pressures from the Iran conflict. Processing Content In turn, this led mortgage rates to increase by 11 basis points for the second consecutive week, the Freddie
Inflation drives mortgage rates to 2026 high point Read More »
There was less interest in buying a newly constructed home last month, as macroeconomic uncertainty squashed a recent market rally. Processing Content New home purchase applications for February were up 0.9% from the same time last year, but down 1% from January, the Mortgage Bankers Association reported Thursday. The tepid Builder Application Survey results follow
Fewer buyers are interested in newly built homes Read More »