The National Flood Insurance Program, set to lapse on Sept. 30, and federal agencies critical to processing mortgage paperwork like HUD, FHA, VA, USDA and the IRS face staff reductions. Continue reading
In predicting that mortgage rates will drop below 6 percent next year, economists at Fannie Mae are more optimistic about growth and less worried about inflation than their colleagues at the Mortgage Bankers Association. Continue reading
UWM and Pennymac are pricing jumbo mortgages of up to $819,000 as if they were conforming, ahead of an official announcement by Fannie and Freddie’s federal regulator in November. Continue reading
Recent Trump appointee Stephen Miran was the lone dissenter in Wednesday’s 11-1 vote, holding out for a bigger, 1/2 percentage point rate cut advocated by the president. Continue reading
Homebuyer loan applications flooded in last week at the second-highest level of the year. Demand for adjustable-rate mortgage loans is at the highest level since 2008. Continue reading
Applications for purchase mortgages hit their highest level since July last week, and rates keep falling on weak jobs reports and more encouraging inflation data Continue reading
After the bill takes effect in March, credit bureaus will still be able to sell trigger leads to a borrower’s current mortgage lender, loan servicer, or any bank or credit union they have an account with. Continue reading
Purchase loan demand eased last week, but rates are expected to keep falling on a new report showing there are more people unemployed than there are job openings for the first time since the pandemic. Continue reading
With 7.24 million Americans out of work in July and payroll growth slowing, the Fed is expected to pivot from fighting inflation to preserving jobs. Continue reading
The tri-merge system is “an anachronism from the days when there were significant disparities in coverage by the credit bureaus,” MBA says in advocating new approach. Continue reading