Fed officials said this week that despite some signs of improvement, it was too early to declare victory in the battle to return inflation to the 2% target. This may dampen optimism about the rapid recovery of the mortgage sector. Continue Reading
Texas-based PrimeLending is suing its direct competitor, First Community Mortgage, Inc. (FCM) claiming to have looted its talent pool. According to a lawsuit filed on Dec. 20 in a Tennessee district court, First Community Mortgage, Inc. (FCM) PrimeLending’s Central AmericanContinue Reading
Rocket Mortgage, a Rocket Companies (NYSE: RKT) company, today launched Purchase Plus, a special purpose loan program designed to increase homeownership in underserved communities. The new program offers first-time home buyers a loan of up to $7,500 to cover homeContinue Reading
It’s no surprise that the mortgage industry can be one of the toughest industries to work in. With ever-changing trends, rising rates, and an affordability crisis that many homeowners are currently facing, it’s understandable that we wonder, “When will thingsContinue Reading
The Federal Housing Finance Agency (FHFA) isn’t doing all it can to prevent rating bias, according to the agency’s Office of Inspector General. In a report on Wednesday, the watchdog said regulator Fannie Mae and Freddie Mac, which itself releasedContinue Reading
Black Knight’s first look at mortgage developments in November isn’t pretty, with signs that a growing number of homeowners are struggling with their mortgage payments. Among the findings of Black Knight’s First Look in its monthly Mortgage Monitor, which isContinue Reading
Wells Fargo, the largest depository lender in the United States, has agreed to pay a $1.7 billion civil penalty to settle several consent orders related to auto loans, consumer savings accounts, and mortgages with the Consumer Financial Protection Bureau (CFPB).Continue Reading
The Federal Reserve’s decision to slow the pace of rate hikes this week has pushed mortgage rates lower – even as the central bank reiterated that it will continue to firm the economy next year. These lower rates are encouragingContinue Reading
Verus Mortgage Capital, one of QMM’s non-QMM lenders, has launched a new mortgage-backed security agreement. Verus completed its 10th non-QMBS transaction of 2022 last week, for $755.6 million. The portfolio has a total of 1,268 loans – most of themContinue Reading
Mortgage rates continued their downward trend this week amid signs that the US economy is cooling down due to monetary policy tightening. However, recent markdowns have not been enough to convince borrowers to take out a home loan. Danielle Hale,Continue Reading
