Contracts, Invoices & Legal

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

Wall Street dealers expect Bessent to signal as soon as Wednesday, when his department releases a quarterly statement on debt sales, that issuance in the $30 trillion Treasury market will keep shifting in that direction. View the full article

A successful summer pilot led to wider rollout of a program, whereby Robinhood Gold subscribers will be able to find discounted rates and closing costs. View the full article

The new president, a 35-year industry veteran, explains the value every lender, vendor and regulator can get by participating in the standards organization. View the full article

Vic Lombardo, new head of mortgage services, has identified growth ideas and new revenue streams for Motto Mortgage and Wemlo, Remax CEO Erik Carlson said. View the full article

Three Federal Reserve officials said they did not support the US central bank's decision to cut interest rates this week, citing inflation that remains too high. View the full article