Contracts, Invoices & Legal

The latest sale consists of close to 1,200 HECMs secured by vacant residential units found in 46 states, according to data provided by the government agency. View the full article

At its first investor day in a decade and a half, the nation's second-largest bank pegged its guidance for return on tangible common equity at a slightly higher level than what it reported last quarter. Not all investors were impressed. View the full article

What makes the situation alarming is the government attack on the fair lending enforcement infrastructure, said Lisa Rice of the National Fair Housing Alliance. View the full article

Private-sector payrolls increased by 42,000 after a revised 29,000 decline a month earlier, according to ADP Research data released Wednesday. View the full article

Treasuries fell after the US government signaled that larger auction sizes are on the horizon, while signs of economic resilience hurt the odds a Federal Reserve interest-rate cut in December. View the full article

Built launched Draw Agent Tuesday, which can process thousands of construction loan draws monthly. View the full article

In its so-called quarterly refunding statement Wednesday, the Treasury department said it anticipated keeping auction sizes unchanged for nominal notes, bonds and floating-rate notes, "for at least the next several quarters." View the full article

Southern states' government-sponsored enterprise share lags outside of a small number of metros, the Center for Mortgage Access' analysis of HMDA data shows. View the full article

Home price modeling changes hurt FOA's third-quarter interim results but it was in the black between January and September on a continuing operations basis. View the full article

While FHFA reduced most of the single-family low-income goals, the MBA wants the refinance target for Fannie Mae and Freddie Mac cut as well, its letter said. View the full article

The latest case comes after at least three other zombie lawsuits in the past year, with the owner of the loan in question claiming $173,000 in past-due interest. View the full article

Newer automation that can serve as a wraparound to existing technology can cut servicing costs in a competitive industry, according to fintech executives. View the full article

The age at which people purchase their first home has climbed rapidly since 2021, when the median was 33, according to a National Association of Realtors survey of transactions from July 2024 through June. View the full article

Comptroller of the Currency Jonathan Gould said Tuesday that chartering compliant fintechs is "the only way" to level the playing field between banks and nonbanks. His comments come as the Office of the Comptroller of the Currency weighs new trust charters and stablecoin rules. View the full article

Federal Reserve Vice Chair for Supervision Michelle Bowman said she wants banks to be competitive in the digital assets space, provided those operations are siloed from the traditional finance side of the business. View the full article

A new look is coming to the National Mortgage News homepage, writes Editor-in-Chief Heidi Patalano View the full article

The inspector general's office, responsible for overseeing the regulator, now sits vacant amid Director Bill Pulte's swift changes and numerous fraud probes. View the full article

Most of the pool of 1,011 residential mortgages, 69.7%, are considered non-prime mortgages, primarily due to the documentation and styles of underwriting. View the full article

The agreement, if approved by a federal judge, would end litigation over two distinct cybersecurity incidents in 2021 which affected over 2 million customers. View the full article

The Consumer Financial Protection Bureau has seen a rapid drop in the effectiveness of its cybersecurity program, according to a new report from the Fed's Office of Inspector General. View the full article

Now that quantitative tightening is ending, the debate on who should be the MBS buyer of last resort, Fannie Mae and Freddie Mac, or the Fed, is taking hold View the full article

In her first public appearance since President The President moved to fire her from the Federal Reserve Board of Governors, Fed Gov. Lisa Cook reiterated her commitment to bringing inflation under 2% and said that the labor market remains "solid." View the full article

Refinancing pushed mortgage originations higher as rates eased, and home equity lending kept growing, but rising delinquencies signal mounting borrower stress. View the full article

Financial literacy advocate John Hope Bryant has joined with a Los Angeles-based developer in an effort to raise up to $300 million from banks to preserve and construct low-income housing around the country. View the full article

AI is transforming legacy modernization efforts as Wells Fargo builds systems for agents to take on humanlike tasks and interact with one another. View the full article