Contracts, Invoices & Legal

The San Diego-based lender reported a net loss of $23.9 million for the January-March period, down from a net income of $97.9 million the quarter prior. View the full article

Purchases of new single-family homes increased 11% last month to a 743,000 annual rate, the highest level since February 2022, according to government data. View the full article

The 14.3% rate for deals withdrawn in any April is the highest level other than in Covid-impacted 2020, as homebuyers reexamine the market, Redfin said. View the full article

The number of major housing markets with annual home price declines is the largest since late 2023, when average mortgage rates were above 7.5%. View the full article

The Mortgage Bankers Association latest forecast reflects the industry's current views on where their business is going, said Mike Fratantoni. View the full article

A 90-day pause on reciprocal tariffs between the U.S. and China boosted the near-term economic outlook for banks, but tensions and uncertainty around trade barriers remain high. View the full article

Industry payrolls wavered in a tepid buying season in which total employment has been better than expected given government cuts. View the full article

The law, set to go into effect later this year, was introduced to prevent potential money laundering in all-cash purchases made by companies or trusts. View the full article

The increase reflects a broader trend that rating agency analysts are watching closely as depository ties to other types of financial institutions grow. View the full article

Rocket Companies and Redfin argue in court filings that a lawsuit seeking to delay their merger is motivated by the plaintiff's personal gain, not concern for investors. View the full article

Lenders using an automated process can save up to $1,500 per loan but do they have the capacity to pass those through to applicants as the FHFA director asks? View the full article

Houses in 85% of the nation's metropolitan areas are considered overvalued, with more than half of those by 10% or above, Fitch Ratings found. View the full article

The company is positioning its Tinman platform as a serious industry competitor and suggests it's eying product costs of around $1,500 per loan. View the full article

The comment period for the Affirmatively Furthering Fair Housing interim final rule has been extended, but consumer advocates are clear in their opposition. View the full article

An index of applications for home purchases jumped 11.1%, the most since January, while a gauge of refinancing increased at a similar rate, according to Mortgage Bankers Association data released Wednesday. View the full article

As the lock-in effect deters many current homeowners from buying, the housing market is seeing younger clients stepping in, often with government-backed loans. View the full article

The Long Island-based regional bank's net loss narrowed from the first quarter of 2024, while CEO Joseph Otting said the company continues to make progress in its turnaround journey. View the full article

One of the tools introduced is a voicebot, dubbed Mia, which helps with consumer retention by making calls to check on clients for UWM broker partners. View the full article

The yield on 10-year benchmark Treasuries was up about three basis points following Wednesday's sale, after earlier climbing more than five basis points. View the full article