Contracts, Invoices & Legal

New York Attorney General Letitia James announced new state legislation to ban unfair and abusive business practices, giving state regulators broader authority to crack down on consumer abuses. View the full article

The bill's signing comes weeks after one of the most notorious NTRAP providers agreed to legal settlements in two states, nullifying existing contracts. View the full article

But just three of the 150 most populous ZIP codes have a mortgage debt-to-income ratio below the conforming threshold of 28%, Movingplace found. View the full article

The rule, effective July 7, puts into place requirements similar to those for banks, except nonbanks do not have to make community investments or grants. View the full article

The real estate agent's guilty plea is the first under the law passed last summer, following thousands of deed theft complaints in the past ten years alone. View the full article

While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said. View the full article

Lending for new single-family homes jumped 11% from a year ago and 26% from February, the Mortgage Bankers Association said. View the full article

Purchases of new single-family homes decreased 10.5% last month to a 657,000 annualized rate, according to government data issued Wednesday. View the full article

The pickup in sales suggests a gradual improvement in affordability since the middle of last year is slowly generating more demand. View the full article

New-home mortgage applications dropped, but the annual sales pace was the strongest in over a year, the Mortgage Bankers Association said. View the full article

New-home purchase activity rose 3.1% year over year, but dropped 7% from October, the Mortgage Bankers Association said. View the full article

Mortgage applications for new-home purchases decreased 15.2% on a seasonally adjusted basis in December, according to the Mortgage Bankers Association. View the full article

Purchases of new single-family homes increased 7.4% in March to an annualized rate of 724,000, mostly driven by a surge in the South, according to government data released Wednesday. View the full article

Purchases of new single-family homes increased 11% last month to a 743,000 annual rate, the highest level since February 2022, according to government data. View the full article

The data suggest U.S. homebuilders are successfully luring buyers off the sidelines with aggressive sales incentives. View the full article

Cryptocurrency development in the mortgage industry has accelerated in no small part from easing regulation and a push from FHFA Director Bill Pulte. View the full article

A Massachusetts borrower sued the servicer last year after she was surprised with a $200,000 mortgage bill, after 16 years of not receiving statements. View the full article

Newrez is leaning into technology investments to shore up borrower recapture and future originations after fair-value losses in its mortgage-servicing rights pushed the lender to a fourth-quarter loss, underscoring how quickly market volatility can upend mortgage earnings. View the full article

Washington State charged Newrez after a consumer investigation, with the notice following recent enforcement action against Luminate Home Loans. 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

The deal comes as technology experts see likely 2026 artificial intelligence breakthroughs in mortgage to come through improved underwriting. View the full article

Two other nonbank mortgage firms also recently got in position to raise capital while NVR, a builder and lender, added new authorization for share repurchases. View the full article

Company officials credited recent mortgage rate pullbacks, a nonagency servicing partnership and Improvements in technology behind recent momentum. View the full article

Newrez expects significant expense reductions from AI partnerships with HomeVision and Valon, as executives rule out mergers and a Rithm spinoff amid strong Q1 earnings. View the full article

Built around the company's guidelines, Rezi Mortgage Assistant helps borrowers learn about the lending process on their own terms, Newrez executives said. View the full article