Contracts, Invoices & Legal

Although posting lower volume than in the fourth quarter, all six active underwriters remained profitable, even with borrowers facing economic turbulence. View the full article

While all six companies were profitable in the third quarter, most had earnings which were down from the prior periods, with MGIC setting a milestone. 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

Large mortgage companies are targeting mergers and acquisitions as well as home equity lending in their 2025 business plans, Boston Consulting Group said. View the full article

After two consecutive quarters of profits, independent mortgage bankers lost money in the most recent period, for the ninth time in the last three years. View the full article

Government-backed lending drove an increase in purchase mortgages for a second straight week, even as interest rates failed to drive refinance activity. View the full article

Mortgage loan officer licensing saw its first rise since 2022 as Fannie Mae projects $2.4T in 2026 volume. Experts eye a market reset amid improving affordability. View the full article

Recent merger activity also includes the purchase of an Alabama title company by technology firm Propy, as experts see ongoing consolidation through 2026. View the full article

Refinance activity was up 16% from the end of February while purchase applications rose mildly, on the strength of fading rates amid larger economic woes. View the full article

National Mortgage News takes a look back at some of the major or unique transactions which went on, or in some cases didn't happen, in the past 12 months. View the full article

Mortgage 1 Inc., founded in 1994, says customers and regulators have mistakenly contacted it instead of Mortgage One Funding, which changed its name in 2021. View the full article

A recent executive order encouraging changes to the Consumer Financial Protection Bureau's Ability-To-Repay and Qualified Mortgage rules are adding to a packed agenda at a time when the agency has lost a third of its staff. View the full article

January's median payment also grew at its fastest pace since October as volatile interest rates hit homebuyers' wallets, the Mortgage Bankers Association said. View the full article

The recent decline in mortgage rates and rising incomes helped improve buyer affordability, but record home prices remain formidable obstacles. View the full article

Full documentation was only applied to 2.6% of the underlying pool of mortgages. Debt-to-income, however, was 23.3% when it was applied. View the full article

Servicing profit offset origination losses for some companies, but more than 40% of companies were unprofitable, according to the Mortgage Bankers Association. View the full article

The good news in the Consumer Price Index report has not carried over to the 10-year Treasury yield and thus mortgage rates, Freddie Mac found. View the full article

As mortgage rates sank to near 6% in January, consumers looked to do rate-and-term refinances, while originators offered more ARMs and cash-out loans. View the full article

Rate-and-term refinances dropped sharply in the short run but the overall number's comparison to a year ago is a different story, according to Optimal Blue. View the full article

Competition that impacted margins and prepayments in excess of expectations were challenges during the period, but executives report first quarter improvement. View the full article

The 30-year fixed rate mortgage average rose 21 basis points this week, lagging other indicators, which are all now lower than seven days ago. View the full article

The 30-year fixed is still over 20 basis points higher than its February bottom, but fell 7 basis points this past week on Iran peace hopes, Freddie Mac said. View the full article

The 30-year fixed-rate mortgage rose five basis points from last week to 6.22%, while the 15-year rate increased nine basis points to 5.50% View the full article

The increase in borrowing costs coincides with a sharp rise in the 10-year US Treasury yield, which is correlated with mortgage rates, as war with Iran disrupted oil flows and sparked concerns about inflation. View the full article

The jobs report and FOMC meeting caused some movement but rates ended up where they started; but any unexpected news could result in swift changes either way. View the full article