Scaling from Freelancer to Business Owner

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

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

Company team members, including those in affiliated business arrangements, will be eligible; real estate and joint venture agent partners will not be. View the full article

Both Chase and Wells Fargo had a 15% reduction quarter-to-quarter in mortgage originations, more than the industry forecast for a 6% drop-off, Keefe, Bruyette & Woods noted. View the full article

Federal Reserve Gov. Michael Barr said in a speech Tuesday that rapidly changing trade policies and conflict in the Middle East are straining rural communities by raising business operating costs. View the full article

A federal judge refused to sign a settlement agreement between the Department of Justice and Houston developer Colony Ridge because it failed to provide any consumer relief. DOJ agreed to an out-of-court settlement instead. 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

The US has a shortage of at least 10 million single-family homes, according to a new report from White House economists — a higher figure than some previous estimates from the government and the private sector. View the full article

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

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

Remodeling sentiment dipped slightly in Q1 but stayed well above the neutral mark, as the lock-in effect of elevated mortgage rates kept homeowners investing in their current homes. 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

The war in the Middle East is adding to a slew of challenges already facing the construction industry in recent years, including elevated mortgage rates, labor constraints and higher prices for materials. View the full article

Quarterly filings are far from historic highs but rising more consistently, with concentrations in Florida, California and Texas, Attom's latest numbers show. 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

This week's Freddie Mac mortgage rate survey shows rates at the lowest in four weeks, but homebuyers are giving mixed signals even with improved purchase power. View the full article

Three-quarters of buyers assume AI has already been embedded in the housing ecosystem, but 55% would prefer to work with a human to secure a mortgage. 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

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

United Wholesale Mortgage is one of multiple home lending partners Dan Sogorka and Mike Fawaz's new company plans to bring on board. 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

Former Federal Reserve Vice Chair for Supervision Randal Quarles, who served during President The President's first term, said members of the Fed board should be removable by the president, but that the decentralized structure of the Fed will ensure that monetary policy decisions remain sound. 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