Contracts, Invoices & Legal

After three consecutive weeks of increases, the 30-year fixed mortgage rate dropped 0.3 basis points to 6.23% this week, according to Freddie Mac. View the full article

Now that the Consumer Financial Protection Bureau has refused to request funding from the Federal Reserve System, many experts see the case making its way to the Supreme Court. View the full article

The decision in a New York case that is also undergoing federal review puts pressure on related parties to get things right within a statute of limitations. View the full article

The company's latest funding announcement caps off a year of tailwinds that propelled growth for home equity investment platforms and related lending products. View the full article

Federal Reserve Bank of Richmond President Tom Barkin said economic uncertainty should ease in the coming year as businesses gain confidence in sustained demand and adapt to the new policy environment. View the full article

Kelman chose to step down from the company, which he had spent 20 years running, a week before its second phase of integration with Rocket. View the full article

The Mortgage Bankers Association's index of home-purchase applications rose 5.1% in the week ended Jan. 16, data from the group showed Wednesday. View the full article

Despite a weak ADP jobs print, Treasury yields went nowhere, reinforcing a growing bearish, defensive case for rates, according to the CEO of IF Securities. View the full article

The real estate industry has paid over $1 billion in combined settlements in the longstanding cases from home sellers challenging commissions payments. View the full article

The federal government should step in to prevent an emerging patchwork of state regulations from stifling the benefits of applying the tools of generative artificial intelligence to the mortgage market. View the full article

Sridhar Sharma, Mr. Cooper's chief innovation and digital officer until it was bought by Rocket, is the new president of the mortgage servicing tech provider. View the full article

The Public Interest Law Center filed an amicus curiae brief arguing against a joint motion to end a redlining agreement early against Lakeland Bank. View the full article

The lawsuit accuses Veterans United of deceptively suggesting it's part of the Department of Veterans Affairs and steering clients to more costly loans. View the full article

In the highest-priced housing markets, some buyers see adjustable-rate mortgages as the only loan they may initially qualify for, Cotality found. 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

For the second week in a row, the 30-year fixed increased by 11 basis points, Freddie Mac found, a result of reaction to oil price hikes from the Iran conflict. View the full article

The contract rate on a 30-year mortgage rose 13 basis points to 6.43% in the week ended March 20, according to Mortgage Bankers Association data released Wednesday. View the full article

In an update to its seller and servicer guide, Fannie Mae laid out details on responsibilities for vendor oversight and the need for transparent AI policy. View the full article

While last year was the best for origination income since 2022, annual net servicing revenue for mortgage bankers was approximately 70% below 2024's level. View the full article

PennyMac Financial Services reported $82.3 million net income, inclusive of a $44 million net reduction related to servicing fair value and hedge losses. 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

Foreclosure filings were reported on 42,430 properties in the United States last month, down 8% from the month prior but up 18% from a year ago. View the full article

Copper Ridge Ventures has joint venture businesses with mortgage loan officers and real estate professionals using the same broker model as NEXA Lending. View the full article