Scaling from Freelancer to Business Owner

An index of applications for home purchases jumped 11.1%, the most since January, while a gauge of refinancing increased at a similar rate, according to Mortgage Bankers Association data released Wednesday. View the full article

Senate Banking Committee Chairman Tim Scott said Jonathan McKernan's final confirmation vote to lead the Consumer Financial Protection Bureau is "imminent." View the full article

The judge sided with Massachusetts officials in a review of their lawsuit against Hometap, who pushed back on descriptions of its products as "illegal" loans. View the full article

Chairman and CEO David Spector, in weighing Rocket Cos.' purchase of Mr. Cooper, suggested Pennymac's balanced business model couldn't be duplicated. View the full article

Federal Reserve Vice Chair Philip Jefferson said the central bank is in the "early stages" of enabling banks to pledge assets to both the Federal Home Loan Bank and discount window liquidity facilities. View the full article

The move comes as the House of Representatives passed a successor bill this week to support distressed homeowners served by the Department of Veterans Affairs. View the full article

The unexpected drop to the slowest pace in seven months was driven by ongoing affordability constraints and is a lackluster start to the Spring selling season. View the full article

Some policies the industry group is calling for the Office of Management and Budget to definitively rescind have already been pulled back to some degree. View the full article

This potential transaction would be part of a broader trend of mortgage lenders and servicing players converging, such as Rocket's recent acquisition of Mr. Cooper. View the full article

Atlantic Trust Mortgage was recently dealt another legal blow after a federal judge in Michigan refused to dismiss UWM's All-In lawsuit against the brokerage. View the full article

Lenders using an automated process can save up to $1,500 per loan but do they have the capacity to pass those through to applicants as the FHFA director asks? View the full article

Sean Grzebin discusses his plans to leverage JPMorgan Chase's massive consumer audience to pick up mortgage market share. View the full article

Mortgage bankers have been supporting recent updates to the legislative proposal while urging legislators to fast-track it given the phaseout of VASP. View the full article

The yield on 10-year benchmark Treasuries was up about three basis points following Wednesday's sale, after earlier climbing more than five basis points. View the full article

Monetary policy is on track to loosen later rather than sooner. Housing finance firms may look more to home equity until or unless a change revives activity. View the full article

The average 30-year fixed-rate mortgage rose slightly to 6.86% last week, as economic volatility calmed following the Federal Reserve's recent inaction. View the full article

Houses in 85% of the nation's metropolitan areas are considered overvalued, with more than half of those by 10% or above, Fitch Ratings found. View the full article

The The President administration has withdrawn from the Federal Register a proposed rule that sought to protect consumers from having their sensitive financial information sold. View the full article

The Financial Technology Association will now defend the Consumer Financial Protection Bureau's open banking rule after the The President administration sided with banks that sued the agency. View the full article

Lower is acquiring a top-five ranked real estate portal to create an "end-to-end homeownership platform" to rival Rocket Mortgage. View the full article

Numbers jumped after the expiration of a moratorium at the end of 2024, but rates of foreclosure rose across all loan types, the Mortgage Bankers Association said. View the full article

The increase in purchase mortgage rate lock volume provides support for those looking for a strong Spring market this year, Optimal Blue found. View the full article

The Virginia man filed a false tax return in 2021 claiming an $18.3 million refund, working with a co-conspirator to defraud a real estate agent. View the full article