Scaling from Freelancer to Business Owner

The nomination of Jonathan McKernan to lead the Consumer Financial Protection Bureau moves to the full Senate, where he's likely to be confirmed along party lines. View the full article

Plaintiffs alleging the lender manipulated home valuations ten years prior argued the interpretation of the rule cited in determining the case's standing was a stretch. View the full article

Excess cash flow will pay timely interest and protect against realized losses in the rated certificates before being paid out to the class X notes. View the full article

Close to 88% of all homeowners reported staying in the same home year-over-year compared to 85.1% reported a decade ago, per U.S. Census data. View the full article

The average size of purchase applications fell below the $400,000 mark, reflecting first-time home buyer interest, the Mortgage Bankers Association said. View the full article

Consumers seeking jumbo home loans last week encountered the same 7.02% average contract interest rate as 30-year confirming loan borrowers. View the full article

The wholesale and non qm lender said it's placed Serene Vernon on administrative leave and elevated capital markets officer John Hamel to the role of president. View the full article

Delinquencies are higher in one sector but overall pretax operating income is at a multi-decade high and adding to profit from originations. View the full article

For the first time in almost two years, mortgage products available for consumers are at a level established in 2012. View the full article

Refinancings, particularly the cash-out version, helped to drive mortgage product availability and rate lock activity during March, separate reports found. View the full article

More government-backed loans shifted out of forbearance, while the share of portfolio and private-label securities loans remained flat from December. View the full article

Even with 4,000 public sector cuts, total employment numbers were surprisingly high, which raises questions about whether financing costs will keep falling. View the full article

Perspective homebuyers with work visas, asylum seekers and DACA recipients seeking the government-backed mortgage will be impacted by this sweeping change. View the full article

Excess capacity remains in the mortgage origination cycle, and lenders need to cut costs and end the boom-and-bust hiring, Boston Consulting Group said. View the full article

The private mortgage insurers reported just 5% less business versus the third quarter and 33% more new insurance written over the fourth quarter 2023. View the full article

Large mortgage companies are targeting mergers and acquisitions as well as home equity lending in their 2025 business plans, Boston Consulting Group said. View the full article

After two consecutive quarters of profits, independent mortgage bankers lost money in the most recent period, for the ninth time in the last three years. View the full article

Government-backed lending drove an increase in purchase mortgages for a second straight week, even as interest rates failed to drive refinance activity. View the full article

Refinance activity was up 16% from the end of February while purchase applications rose mildly, on the strength of fading rates amid larger economic woes. View the full article

Mortgage 1 Inc., founded in 1994, says customers and regulators have mistakenly contacted it instead of Mortgage One Funding, which changed its name in 2021. View the full article

January's median payment also grew at its fastest pace since October as volatile interest rates hit homebuyers' wallets, the Mortgage Bankers Association said. View the full article

The good news in the Consumer Price Index report has not carried over to the 10-year Treasury yield and thus mortgage rates, Freddie Mac found. View the full article

The 30-year fixed rate mortgage average rose 21 basis points this week, lagging other indicators, which are all now lower than seven days ago. View the full article

US mortgage rates fell to the lowest level since October, spurred by a rally in government bonds in the wake of an escalating trade war and driving home purchase applications to a more than one-year high. View the full article