Contracts, Invoices & Legal

Mike Kortas will be adding a separate mortgage servicing company and hiring NEXA loan officers to assist with the process and give them customer insights. View the full article

San Francisco's median house price jumped to a record $2.15 million in March, up 18% from a year earlier as wealth generated by artificial intelligence startups flooded the city, according to brokerage Compass Inc. View the full article

The latest government-sponsored enterprise changes include a more flexible sampling and a longer maximum term for some manufactured housing loans, respectively. View the full article

The product preserves borrower's first mortgage, and its potentially lower mortgage rate, without requiring the new monthly payments of a traditional HELOC, FOA says. View the full article

Mortgage rates rising nearly 40 basis points from early-year lows have pushed some buyers out of the market, even as inventory and affordability remain better than a year ago, ICE Mortgage Technology found. View the full article

Losses stemming from the 2022 vintage have been offset by excess spread, while cure and roll rates signal caution. View the full article

Lawsuits and probes are ramping up, and some courts have broadened the lending law's statute of limitations, said Bradley Partner Jonathan Kolodziej. View the full article

New jobs in health care largely drove the gains, while the federal workforce and finance continued to shrink. View the full article

United Wholesale Mortgage lost ground to RKT in one category but held onto a healthy lead in another, an analysis of Home Mortgage Disclosure Act data shows. View the full article

Finance of America has not disclosed any incident, but a consumer filed an immediate lawsuit over a lone report of a ransomware gang's recent hack. View the full article

HECM endorsements rose 16% in March to 2,117 loans, but monthly volumes remain near their slowest pace since last summer as proprietary reverse products quietly steal market share. View the full article

The artificial intelligence-based technology automates manual processes associated with the financing, including draws, for homes under construction. View the full article

Full documentation was completed on just 17.9% of the pool, Fitch said, while bank statements and debt service coverage ratio (DSCR) account for 17.6% and 28.0%, respectively. View the full article

Home prices increased 0.9% year-over-year and 0.1% month-over-month in January, according to the S&P Cotality Case-Shiller national home price index. View the full article

The real estate fintech touted Doma's role in Fannie Mae's title-acceptance pilot as key to the deal, which follows Opendoor's recent mortgage product rollout. View the full article

While San Francisco had the biggest improvement in affordability for prices today versus 2019, Hartford remains in a very deep freeze, First American said. View the full article

The contract rate on a 30-year mortgage increased 14 basis points to 6.57% in the week ended March 27, according to Mortgage Bankers Association data released Wednesday. View the full article

The lender claims an originator ambushed executives in a negotiation with the confidential company financials and claimed to have shared them with competitors. View the full article

A court and jury found a father-son executive team liable for wage violations, and a federal judge recently increased the amount of damages for plaintiffs. View the full article

Banks have a lot to celebrate in the operational risk framework, but advocates warn it cuts capital too far. View the full article

The latest generation of anti-money laundering software uses agentic AI to help alleviate AML alert fatigue. Experts say this use of the technology is promising, though they offer some caveats. View the full article