Contracts, Invoices & Legal

Rocket enters the crowded DSCR market with a product for experienced investors, joining rivals as non-QM lending grows and demand for single-family rentals stays strong. View the full article

The Consumer Financial Protection Bureau said the new oath was necessary because prior leadership engaged in what it describes as "thuggery" during exams. Former CFPB officials rejected the agency's characterization of past actions. View the full article

The Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. issued a final rule Tuesday that softens leverage demands for the biggest and most systemically risky banks and lowers the community bank leverage ratio to 8%. View the full article

The administration has previously said the finalists are Fed Governors Christopher Waller and Michelle Bowman, former Governor Kevin Warsh, National Economic Council Director Kevin Hassett and BlackRock Inc. executive Rick Rieder. View the full article

Nearly 85,000 sellers removed their properties in September, the highest number for that month in eight years, according to Redfin. View the full article

The Justice Department subpoenaed a key witness in the case, questioning the conduct of Bill Pulte and Ed Martin. View the full article

The new cap of $88 billion per company tops this year's $73 billion limit, but keeps pace with multifamily mortgage volume growth in recent months. View the full article

The prepayment rate grew by 37% over September as mortgage rates fell leading to higher refinancing volume in October, ICE Mortgage Technology said. View the full article

Lancaster, Pennsylvania-based Fulton Financial said Monday it will pay $243 million in stock for Blue Foundry Bancorp, which has lost more than $20 million since converting to a public company in 2021. View the full article

A federal judge threw out the criminal charges against former FBI Director James Comey and New York Attorney General Letitia James, ruling that the prosecutor who brought the cases had been illegally appointed. View the full article

The government-sponsored enterprise took its first look at what new loan volume might be like in two years and found it could rise closer to pandemic levels. View the full article

Social media posts point to a 40% to 100% price hike this year, the latest in a series of hikes started in 2023, when for some lenders prices rose 400%. View the full article

The Natural Treasury Employees Union has asked a district court to clarify whether Russell Vought, the acting director of the Consumer Financial Protection Bureau, has complied with a preliminary injunction. View the full article

While the tone is still generally upbeat, the market is mired below October's price highs and yields are range-bound. View the full article

Uncooperative neighbors, vicious pets and threats of violence are some of the dangers mortgage field employees run into when on assignments. View the full article

New private-label bonds collateralized by loans made outside the qualified mortgage definition hit highs for the month, quarter and year, CreditFlow data shows. View the full article

Luxury home prices rose 5.5% year over year in October to a median $1.28 million, far outgaining the 1.8% increase of nonluxury homes. View the full article

The vendor, SitusAMC Group Holdings, LP, said in a statement Saturday that someone compromised its systems and took client data including "accounting records and legal agreements." View the full article

Thursday's wild selloffs, and further losses Friday, were a reminder that the fervor of retail traders — whipped up in part by Federal Housing Finance Agency head Pulte — can quickly turn sour. View the full article

Sales of previously owned homes in the US rose in October to the fastest pace in eight months, as buyers took advantage of lower mortgage rates and gained the upper hand over sellers in some markets. View the full article

Federal Reserve Gov. Lisa Cook, citing several studies, outlined her concerns Thursday that generative AI could be used to manipulate markets, and regulators have not yet thought through how to police such activity. View the full article

Frank Cassidy, who is currently principal deputy assistant secretary at the Department of Housing and Urban Development, will soon face a full Senate vote. View the full article

Even with this week's increase, mortgage rates have remained within a 13 basis point band since mid-September, with industry pundits saying that's where they will stay. View the full article

The national median payment applied for by purchase applicants fell to $2,039 in October from September, the Mortgage Bankers Association said. View the full article

The economy added an unexpectedly robust 119,000 jobs in September, though unemployment edged up to 4.4%. The report, delayed by the federal government shutdown, continues a trend of sluggish job growth in recent months. View the full article