Contracts, Invoices & Legal

An uptick in problem loans within the heavily scrutinized office sector pushed down share prices at Rhode Island-based Washington Trust and Bank OZK in Little Rock, Arkansas, even though both banks reported solid profits. View the full article

U.S. Attorney for the District of Columbia Jeanine Pirro said in a social media post Friday morning that the Justice Department is closing its investigation into Federal Reserve Chair Jerome Powell, clearing a path for Kevin Warsh to be confirmed as Powell's replacement. View the full article

The office, which follows the state's criminalization of the white-collar fraud, will flag suspicious property filings and improve data-sharing across agencies. View the full article

Sen. Thom Tillis, R-N.C., said on Sunday that he no longer opposes Kevin Warsh's nomination to serve as chair of the Federal Reserve following the Justice Department's announced closure of its inquiry into current Fed Chair Jerome Powell. 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

The Federal Open Market Committee's April meeting — likely Federal Reserve Chair Jerome Powell's last — is unanimously expected to keep interest rates steady, but questions about energy, inflation and the upcoming transition in leadership still loom. View the full article

Check out the next set of names in the 28th edition of National Mortgage News' Top Producers survey, including on how they approach purchase business. View the full article

Using a non-GAAP measurement, the real estate investment trust, preparing to be bought by CrossCountry, reported a $25 million loss for the first quarter. View the full article

Kevin Warsh's nomination to be the next chair of the Federal Reserve passed through the Senate Banking committee in a party-line vote. View the full article

President Biden had issued a rule in 2024 requiring newly constructed homes to abide by an energy mandate to be eligible for FHA- or USDA-backed mortgages. View the full article

A federal judge harshly criticized the settlement of a civil suit between the Department of Justice and a Texas land developer. View the full article

Home affordability declined on a monthly basis across loan types and racial demographics, but improved from a year ago, the Mortgage Bankers Association said. View the full article

National Mortgage News spoke with Shant Banosian of Rate, Mark Cohen of Cohen Financial and Amanda Sessa of SWBC on how they stand out in their markets. View the full article

Even as they continue to press for additional changes, banks get some wins from the revised Basel capital framework and a ballpark estimate of their capital outlook for the next few years. View the full article

Federal Reserve Gov. Michael Barr said Tuesday that the U.S. energy sector is more insulated from shocks than Europe's, particularly in natural gas prices. However, he warned that the war is pushing up gasoline prices, which could spill over into other parts of the economy. View the full article

The share of seriously underwater homeowners also grew in 45 states compared to a year ago, with the South Central region most affected, according to Attom. View the full article

Freddie Mac was more aggressive than its counterpart for much of the past year but March activity establishes that there's a different trend at play in 2026. View the full article

The 30-year fixed spiked earlier in the week, but fell as Middle East news helped to drive the 10-year Treasury yield lower by 9 basis points by Wednesday. View the full article

The buyer will add around 800,000 loans to its hefty servicing portfolio, while Valon said it will shift away from servicing to focus on technology. View the full article

Rocket Cos. fell just $200 million short of United Wholesale Mortgage in Q1, as servicing recapture from its massive MSR portfolio fueled $44.7B in closed loan volume. View the full article

Eligible purchases with the Better Home Equity Card, which lets homeowners instantly spend funds drawn from a home equity line of credit, earn 1% cashback. View the full article

More than three-quarters of brokers are using popular AI platforms, but application of lender-specific software lags considerably, according to AD Mortgage. View the full article

The combination adds to a wave of broader merger and acquisition activity that includes an ongoing bidding war over RoundPoint Mortgage owner Two Harbors View the full article

Dino Lack will lead Union Home's efforts to improve the lending experience through advanced workflow automation and artificial intelligence integration. View the full article

The lender says it's willing to "cut costs deeper" if macroeconomic conditions hinder it from reaching a breakeven adjusted EBITDA goal later this year. View the full article