Impact on rates depends on the structure of rumored IPO. Whatever the plan turns out to be, the Trump administration has stacked the boards at the mortgage giants with its supporters. Continue reading
While rival Rocket Mortgage seeks to boost refis by becoming largest U.S. loan servicer, UWM CEO Mat Ishbia says AI, competitive pricing will help mortgage brokers compete for borrowers. Continue reading
Consumer group say FHFA’s plan to pit VantageScore 4.0 against older FICO Classic score will make “anti-competitive natures of the credit scoring market even worse.” Continue reading
Trump announces new tariffs on dozens of countries beginning Aug. 7, fires BLS commissioner after revised jobs report shows dramatic slowdown in payroll growth in May and June. Continue reading
Mortgage rates have stabilized and more inventory is coming online, but applications for purchase loans fell by a seasonally adjusted 6 percent last week compared to the week before. Continue reading
With Trump administration’s Aug. 1 deadline looming, new readings on consumer confidence show would-be homebuyers may be getting less fearful that tariffs will tank the economy. Continue reading
Economists at Fannie Mae and the Mortgage Bankers Association differ on how much room mortgage rates have to come down and how fast home price appreciation will cool. Continue reading
Trump administration would probably lose court battle, lawyers reportedly advise White House, and markets would react badly, “The Wall Street Journal” warns. Continue reading
As new scoring models by Fair Isaac and VantageScore vie for acceptance by Fannie Mae and Freddie Mac, claims and counterclaims fly. In the meantime, mortgage giants are stuck with FICO Classic. Continue reading
Elevated mortgage rates, weakening home price growth and uncertainty from Trump’s tariff policy are setting the housing market on a dangerous path, Moody’s Mark Zandi said, with homebuyers and homebuilder hitting rock bottom. Continue reading