Contracts, Invoices & Legal

FundingShield's latest report notes the improvement in remediation efforts among lenders, but closing protection lenders remain a key source of file problems. View the full article

Dark Matter's parent said the decision to promote its chief technology officer aligns the company to the direction of the market, with further changes to come. View the full article

SecurityNational Mortgage Co. alleges that the larger competitor facilitated the mass resignation of its staff from Glendale and Scottsdale offices. View the full article

Banks are pushing back on the Consumer Financial Protection Bureau's draft of a five-year strategic plan, which includes a notable pullback from supervising nonbanks. View the full article

Approximately 1.4 million taxpayers have received notices that their tax refunds are being delayed because the IRS wants direct deposit information. View the full article

Federal Reserve Gov. Michael Barr said in a speech Tuesday afternoon that he wants to see a durable and reliable reduction in consumer price inflation before he considers cutting the central bank's interest rates. 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

The Federal Home Loan Bank system, a Depression-era program designed to shore up mortgage lending that has morphed into a go-to — and controversial — source of cheap financing for banks and other financial institutions. View the full article

Pulte alleged that James appeared to misrepresent who would occupy property in separate homeowner insurance applications, saying the documents could indicate that James "may have defrauded" insurers in those states. View the full article

Full documentation was completed on just 17.9% of the pool, Fitch said, while bank statements and debt service coverage ratio (DSCR) account for 17.6% and 28.0%, respectively. View the full article

The integration allows servicers on ICE's MSP platform to deploy Kastle's AI agents without building custom infrastructure, Kastle said. View the full article

The Consumer Financial Protection Bureau, which has dismissed scores of enforcement attorneys early in President Donald The President's second term, is staffing up its litigation arm in anticipation of defending its rules in court. View the full article

Being a diversified global bank, Goldman Sachs was "broadly seen favorably as a relatively safe haven type of credit," said Tony Trzcinka, an investment grade portfolio manager at Impax Asset Management. View the full article

Adjustable rate mortgages accounted for 12% of total home loan volume in March, reaching its highest share of the market since October 2022. View the full article

Financial institutions that are members could gain access to expedited funding through a Fed partnership and advances secured by a broader range of collateral. View the full article

Large loan balances are increasingly common in non-QM and HELOC securitizations, bringing faster prepayments and higher delinquency risks, Bank of America Securities research shows. View the full article

Delinquencies also showed signs of overall improvement in March, despite an increase in foreclosure numbers, ICE Mortgage Technology said. View the full article

Fannie Mae and Freddie Mac's support for the market lessened the impact, as could bank capital reform, and the company's normalized results outperformed. View the full article

The national delinquency rate ticked up seven basis points to 3.72% last month, coupled with a 10-basis-point increase in prepayment speed, according to ICE. View the full article

Two former members of the Federal Open Market Committee said in interviews that they expect the Federal Reserve to keep rates steady amid uncertainty over the ongoing war with Iran and the resulting upward pressure on inflation. View the full article

Jay Plum, head of consumer lending at Fifth Third Bank, says artificial intelligence is fundamentally shifting relationships between banks and their third-party software vendors, allowing banks to do things on their own that they would previously rely on vendors to do for them, like identify risky loans and prepare for exams. View the full article