Scaling from Freelancer to Business Owner

The prepayment rate grew by 37% over September as mortgage rates fell leading to higher refinancing volume in October, ICE Mortgage Technology said. View the full article

The changing climate is increasing insurance rates for residents and cities and lowering property values in areas that face more frequent and intense disasters. View the full article

The Consumer Financial Protection Bureau's Acting Director Russell Vought has an obligation to request funding for the agency, five former Federal Reserve officials said. Plus, three nonprofits sue Vought and the CFPB. View the full article

Federal Reserve Gov. Stephen Miran argues that banks holding excess reserves are keeping the central bank's balance sheet bigger than it should be, and suggested that regulatory changes could help bring those reserves down. View the full article

The latest data offered some relief to traders worried about more pronounced inflation that could keep a lid on rate cuts. View the full article

Rohit Chopra is named senior advisor to the Democratic Attorneys General Association's working group on consumer protection and affordability; Flagstar Bank adds additional wealth-planning capabilities to its private banking division; Chime promotes three members of its executive leadership team; and more in this week's banking news roundup. View the full article

Even with this week's increase, mortgage rates have remained within a 13 basis point band since mid-September, with industry pundits saying that's where they will stay. View the full article

The home purchase market, which competes for consumers with rentals, should remain subdued in 2026 because of high mortgage rates and low affordability. View the full article

New private-label bonds collateralized by loans made outside the qualified mortgage definition hit highs for the month, quarter and year, CreditFlow data shows. View the full article

The New York Stock Exchange disclosed the news on Monday of the sudden passing of its head of International Capital Markets. View the full article

Treasury Secretary Scott Bessent said the Federal Reserve Board should reject the renomination of any regional Federal Reserve Bank presidents who have not lived in their districts for three years, signaling a potential confrontation when reappointments come before the board in February. View the full article

A "spike in unusual traffic" caused service degradation for the infrastructure giant, disrupting digital banking for customers. View the full article

A coalition of mortgagees said the zombie seconds law negatively impacts 1.2 million junior liens statewide, despite just over 500 potential "zombie" loans. View the full article

The drop in mortgage rates as measured by Freddie Mac, came about even as the 10-year Treasury yield used to price loans moved higher since Thanksgiving. View the full article

The Troy, Michigan-based lender and servicer faces at least seven lawsuits over a hack in June allegedly perpetrated by a known ransomware gang. View the full article

Renters can now enroll in CreditClimb through Zillow to have their on-time rent payments reported to the three major credit bureaus. View the full article

Ringcentral claims the direct-to-consumer lender breached a 2021 contract for telephone services to help facilitate up to 1.3 million calls a day. 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

A recent Remax survey found 88% of respondents said they are "very" or "somewhat likely" to purchase a home next year. View the full article

Two heavyweights in the US residential real estate market, Compass Inc. and Zillow Inc., will face off in a New York courtroom this week in a legal battle that could reshape the future of how homes are marketed and sold in the country. View the full article

The Housing for the 21st Century Act includes provisions covering policy, manufactured homes and rural infrastructure introduced in a prior Senate proposal. View the full article

The trade group's letter to FHFA Director Bill Pulte pointed out that lenders were facing credit report price hikes for four straight years. 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

An attorney for Christopher J. Gallo, who is battling 18 federal charges, said the lender's 18-month delay in pursuing the sign-on bonus makes little sense. View the full article

Approximately 70% of home purchasers do not get more than one quote in the mortgage process, doing so could reduce their rate by 50 basis points, Zillow said. View the full article