Contracts, Invoices & Legal

Shore Capital Partners, a Chicago-based private equity firm founded by billionaire Justin Ishbia, has raised more than $400 million for its second industrial fund. View the full article

Federal Reserve Gov. Lisa Cook said in a speech Wednesday night that the central bank's credibility depends on its ability to bring inflation back to its 2% target. View the full article

The Ohio Supreme Court nixed a consumer's attempt to secure relief for over 1,000 borrowers, regarding fines the lender owed them over late paperwork. View the full article

Bowman's Basel III relief may ease MSR capital but won't bring banks back; risk weights and economics still favor nonbanks, according to the Chairman of Whalen Global Advisors View the full article

The bill, offered by Sens. Catherine Cortez Masto, D-Nev., and Todd Young, R-Ind., would allow Federal Home Loan Bank members to establish tax-exempt community infrastructure development bonds. View the full article

As the US‑Israel‑Iran war disrupts shipping through the Strait of Hormuz and boosts oil prices, investors and trade flows are responding, creating mixed pressures on mortgage rates, housing costs and building materials. View the full article

Active listings grew 7.9% year over year in February, but just 0.2% month over month, reaching more than 914,000 homes on the market, according to Realtor.com. View the full article

The lender will offer a comprehensive suite of residential lending programs and commercial lending solutions, such as builder construction loans. View the full article

What was once a bipartisan and broadly popular housing bill has been weighed down with a pair of provisions that banks can't support. Even with those headwinds, the bill is more likely than not to pass, but not without drawn-out negotiations between the House and Senate. View the full article

Affordability improved in February as rates dipped below 6%, but March's climb to 6.43% signals tougher months ahead. Lenders should act now on pockets of opportunity before rising rates erode recent gains. View the full article

Federal Reserve Chair Jerome Powell said the central bank is cautiously monitoring consumer sentiment as tensions from the Iran war push energy prices higher, complicating efforts to bring inflation down to the Fed's target. View the full article

Olive Branch Home Loans is the first business established through a new LoanDepot partnership model aimed to help builders scale internal lending units. 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

Jumbo loans demand more scrutiny and documentation, but automation is streamlining the process — and lenders who master the product stand to gain in a moderately bullish market. View the full article

Banks are pushing back on the Consumer Financial Protection Bureau's draft of a five-year strategic plan, which includes a notable pullback from supervising nonbanks. View the full article

Federal Reserve Gov. Christopher Waller said certain corporate functions at the 12 regional banks, including information technology and human resources, could be consolidated under one structure to increase standardization and reduce costs. View the full article

Rocket Cos. fell just $200 million short of United Wholesale Mortgage in Q1, as servicing recapture from its massive MSR portfolio fueled $44.7B in closed loan volume. View the full article

The Senate voted 54-45 to confirm Kevin Warsh to lead the central bank. Warsh will take the reins from Jerome Powell, who said he will remain on the Federal Reserve Board. View the full article

The billionaire and legacy government-sponsored enterprise investor says there is a quick interim fix and they should eventually leave conservatorship. View the full article

Approximately 70% of home purchasers do not get more than one quote in the mortgage process, doing so could reduce their rate by 50 basis points, Zillow said. View the full article

A group of 22 Democratic state attorneys general filed a lawsuit against acting Consumer Financial Protection Bureau Director Russell Vought, the bureau and the Federal Reserve, arguing that the administration's position that the CFPB cannot be funded is wrong. View the full article

A shared client base helped lead to introduction of the new integration, with implementation scheduled to come later this year, the companies said. View the full article

A Community Home Lenders of America adds arguments against use of single bureau while another paper takes the position that the idea merits further study. View the full article