Contracts, Invoices & Legal

Fannie Mae and Freddie Mac have begun placing sizable orders to purchase mortgage-backed securities, stepping into a market roiled by widening bond spreads and a surge in volatility, according to a person with direct knowledge of the matter. View the full article

The The President administration hasn't formally charged Swalwell, Adam Schiff or Lisa Cook, while a federal court tossed a prosecution against Letitia James. View the full article

United Wholesale Mortgage is offering revised terms. The mortgage real-estate investment trust that owns RoundPoint also received a third offer it's considering. View the full article

The real estate investment trust declared an all-cash offer of $10.80 per share from CrossCountry superior to the fixed stock exchange ratio bid from UWM. View the full article

Yields rebounded after the 30-year held near 5%, but the yield curve's flattening trend likely isn't over, according to the head of correspondent business development at AD Mortgage. 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

The government MBS guarantor ended a 15-day advance notice mandate for extensions on a filing deadline so those with a March 31 due date can still ask for one. View the full article

Home prices increased 0.9% year-over-year and 0.1% month-over-month in January, according to the S&P Cotality Case-Shiller national home price index. View the full article

While San Francisco had the biggest improvement in affordability for prices today versus 2019, Hartford remains in a very deep freeze, First American said. View the full article

The artificial intelligence-based technology automates manual processes associated with the financing, including draws, for homes under construction. View the full article

Calyx Path's integration with Friday Harbor clears paperwork for underwriters, while Dark Matter's Ask Aiva quick verifiable answers to LO questions. View the full article

Finance of America has not disclosed any incident, but a consumer filed an immediate lawsuit over a lone report of a ransomware gang's recent hack. View the full article

Mortgage rates rising nearly 40 basis points from early-year lows have pushed some buyers out of the market, even as inventory and affordability remain better than a year ago, ICE Mortgage Technology found. View the full article

A United Wholesale Mortgage executive stepped in to defend a claim against the company, as consumers pelt the industry with more spam call complaints. View the full article

In other news, Better Mortgage completed warehouse renewals and Wolters Kluwer provided a new form of access to its digital vault platform for secured parties. View the full article

Conforming loan limits are determined using a home price index. A congressman is proposing a switch to an income-based metric, creating more jumbo mortgages. View the full article

The 30-year fixed fell to 6.37% after a two-week ceasefire tempered war-driven volatility, but economists warn the spring housing market faces continued turbulence. View the full article

The industry reported $275 million in losses from internet crimes last year, a 59% annual increase as losses nationwide surpassed $20 billion. View the full article

Falling rates spurred a refi surge that pushed defect rates to 1.79% in Q3, driven by income and compliance documentation gaps as lenders ran lean, per Aces Quality Management. View the full article

A White House Council of Economic Advisers report published Tuesday found that the CFPB cost consumers between $237 and $369 billion since its creation, an analysis that consumer advocates and some financial academics say is flawed. 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

Federal Reserve Gov. Christopher Waller said during an appearance Monday his decision on whether or not to support a cut to short-term interest rates depends on labor market indicators. View the full article