Contracts, Invoices & Legal

New residential construction increased 11.2% to an annualized rate of 1.5 million in February, according to government data released Tuesday. View the full article

The banking sector has stabilized significantly since the spring of 2023, but elevated interest rates have created lingering issues on bank balance sheets. View the full article

Banosian will work with Victor Ciardelli, who remains as the president and CEO of the Chicago-based parent, Rate Cos., overseeing 15 businesses. View the full article

Buyers face decreased return on investment as home prices and rates remained at challenging levels while economic uncertainty clouded the outlook, Redfin said. View the full article

Other trackers like Zillow and Lender Price on Thursday morning have the 30-year fixed moving higher, following a jump in the benchmark 10-year Treasury yield. View the full article

The nomination of Jonathan McKernan to lead the Consumer Financial Protection Bureau moves to the full Senate, where he's likely to be confirmed along party lines. View the full article

In all, 42% of sales in the borough were financed, a larger share than in many recent quarters in the cash-heavy Manhattan market. View the full article

Acting Comptroller Rodney Hood discussed using fintech to evaluate self-employed borrowers' creditworthiness, saying alternative credit models could promote financial inclusion. View the full article

Treasuries gained for a sixth straight session. Morgan Stanley say the 10-year has scope to fall back below 4% if the prevailing view on the Fed shifts. View the full article

Amir Syed, mortgage coach and social media powerhouse, worked at Lower for a little over a year helping to build out and nurture the mortgage lender's origination team. View the full article

Now the structured mortgage securities are cheap enough that CLO investors are watching them more closely, according to strategists and investors. View the full article

Housing starts in the US fell in March by the most in a year, as weak demand from high prices and mortgage rates gives builders little confidence to break ground. View the full article

Measures of current sales of single-family homes and prospective-buyer traffic, dropped to their lowest levels since the end of 2023. View the full article

An ex-Biden administration official suggested potential challenges in identifying lands that have access to both employment opportunities and infrastructure. View the full article

The Federal Reserve governor said it is healthy to examine the regulatory architecture, but stressed the importance of the central bank having insight into the banking system. View the full article

Many layoffs so far have been in the Small Business/Self-Employed Division, but the Large Business & International Division has also been affected. View the full article

The Connecticut bank said its newly minted president, Steven Sugarman, successfully led a private placement and signed a long-term employment agreement that makes him a potential CEO. David Lowery, current chief executive of Patriot, plans to step down in April. View the full article

A joint venture with Sixth Street will give Figure more liquidity to scale Figure Connect, a blockchain-based private capital marketplace. View the full article

Recruiting veterans urge originators to track their future employer's pricing for a longer period of time, and to seek more details about the firm's culture. View the full article

The selloff in US equities accelerated Monday, with major averages tumbling to their worst day this year, as investors braced for a slowdown in the American economy. View the full article

Mortgage lenders and vendors are waiving fees and enhancing program criteria, looking to reduce costs for borrowers and increase their business. View the full article

The Treasury Department told the OMB that all 11 programs in the CDFI Fund are statutorily mandated. The White House said "no final decisions have been made" about the programs. View the full article

Union Home Mortgage claims eight of its managers and an LO transitioned to American Pacific Mortgage, breaching a number of agreements. View the full article

The Federal Housing Finance Agency found the practice aimed at selling more real-estate owned homes to occupants had downsides, according to a recent order. View the full article

While overall investor purchase activity is returning to pre-pandemic norms, interest in condo units dropped to a 10-year low, as insurance and fees surged. View the full article