Contracts, Invoices & Legal

In order to believe in the idea of "competition" in credit scores, the Washington housing community must believe that large institutional investors who buy whole loans and mortgage-backed securities are really, really dumb, writes the Chairman of Whalen Global Advisors View the full article

Rate-and-term transactions leaped by 154% from August to September, while cash-outs and purchase loans also increased, according to Optimal Blue. View the full article

Plaid said LendScore should be viewed as complementary to FICO and other traditional players in the space, but there could be room for disruption in the future. View the full article

The appointment of the mortgage veteran comes as the lender undergoes marketing and branding pivots, including its recent name change from Nexa Mortgage. View the full article

Stenger joins the Chicago-based lender after more than a decade at Movement Mortgage and will oversee its retail platform, including new tech enhancements. View the full article

The NRMLA/Riskspan Reverse Mortgage Market Index set a new high of 502.42, with the dollar amount of home equity for those 62 or over reaching $14.4 trillion. View the full article

The Department of Justice has filed a motion opposing the Consumer Financial Protection Bureau employee union's appeal of an August DC Circuit ruling allowing the administration to fire up to 90% of the agency's workforce. View the full article

This is the second acquisition deal Old Republic has been involved in this year, after selling its title production business in January. View the full article

Rocket Companies lost $124 million on a GAAP basis, but its management celebrated milestones regarding its Redfin and Mr. Cooper acquisitions. 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

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

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

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

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

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 average price of a single-family home increased 1.7% from last year to $426,800 in the third quarter. View the full article

Company leaders said current strategy sets it up to profit and compete against its rivals as the mortgage market improves in the coming months. 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

A 50-year mortgage on a median-priced US home could reduce borrower's monthly repayment, but also double the amount of interest the owner pays over the life of the loan, according to UBS Group AG analysts. View the full article

The lawsuit targets Zillow Flex, in which participating agents must meet Zillow Home Loans pre-approval quotas to maintain access to high quality leads. View the full article

While Fitch and Kroll have differing views on mortgage rates next year, both are looking for mortgage delinquencies to rise in their rated portfolios. View the full article

A combination of factors, including the rise of retail investing and sound assets, propelled ETF formation, with at least four issuances over the past year. View the full article

The economy added an unexpectedly robust 119,000 jobs in September, though unemployment edged up to 4.4%. The report, delayed by the federal government shutdown, continues a trend of sluggish job growth in recent months. View the full article

A federal judge in Pennsylvania ruled the debtor could not prove she was injured by any alleged conduct by Nationstar or other defendants WSFS and A&D. View the full article

Luxury home prices rose 5.5% year over year in October to a median $1.28 million, far outgaining the 1.8% increase of nonluxury homes. View the full article