Contracts, Invoices & Legal

The measure applies to mortgages closed in the months prior to the Southern California wildfires, which are now experiencing early-stage distress. View the full article

Among the resignations are Mark McArdle, who was instrumental in creating the Qualified Mortgage rule, and Operations Chief of Supervision David Bleicken. It is unclear if the Consumer Financial Protection Bureau will hire anyone to succeed them. View the full article

Mortgage originators are still struggling with profitability, and getting their income and costs to pencil out could mean the company's survival. View the full article

An Internal Revenue Service division that helps authorize the release of tax transcripts used in lending through form 4506-C is tied to core functions. View the full article

A majority expressed optimism of getting listing price or more, but a new survey also found the lock-in effect still weighing on the minds of potential sellers. View the full article

Regulators should approve the deal because post-merger, the servicing market remains fragmented and the mortgage origination business is even more dispersed. View the full article

Federal Reserve Gov. Michelle Bowman, one of the central bank's more inflation-wary officials, said the balance of risks for monetary policymaking could soon shift. View the full article

The firm's chief financial officer replaces Kenneth DeGiorgio, who recently pleaded not guilty in a Puerto Rico federal court to a misdemeanor assault charge. View the full article

Fannie Mae set aside $752 million for credit losses in its apartment complex lending business in part because of fraud or suspected fraud, denting profits amid an industrywide scrutiny of borrowers. View the full article

Bill Pulte, making the announcement as chairman of Fannie Mae, did not provide additional details following earlier rumors of larger layoffs. View the full article

A Maryland judge temporarily halted mass layoffs of probationary employees at multiple agencies, citing legal violations and harm to states' ability to respond to unemployment needs. 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 leading lender says its underwriters have already used Google's technology to improve from six loans a day to 14. View the full article

Executives from three wholesale shops, including PRMG, The Loan Store and Newfi, dissected the regulatory landscape and how some developments might impact the broker channel. View the full article

Republican Senator Josh Hawley sent a letter urging the Justice Department to investigate FICO's price increases, which he said have "been borne by borrowers, especially lower-income borrowers." View the full article

The global asset manager wanted access to the smaller company's residential mortgage credit strategies, which will become available to a larger investor base. View the full article

ICE Mortgage Technology announced additions for its Encompass LOS, while Mortgage Cadence is bringing out a new version of MCP aimed at mid-sized depositories. View the full article

Publicly traded lenders, including UWM, Rocket Mortgage and Guild Mortgage, saw personnel expenses increase significantly throughout last year. View the full article

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 age of homes, moving preferences and weather risks are all playing a role in the direction of growth prospects for the remodel and renovation industry. View the full article

Chief Operating Officer Joseph Gormley's appointment fills out a thin executive team at the government corporation, which plays a key role in funding mortgages. View the full article

A federal judge granted a preliminary injunction that preserves the Consumer Financial Protection Bureau's existence, reinstates fired employees, contracts, data and operational capacity. View the full article

The Seattle-based company, which had made home loans for more than a century, announced it was quitting the mortgage business in January. It booked nearly 400 small business loans in the first quarter and expects that total to grow as its team gains traction. View the full article

A Colorado regulator earlier this year revoked the license of the appraiser responsible for the 2021 evaluation at the center of the government's suit. View the full article