Scaling from Freelancer to Business Owner

Observers believe the government shutdown and lack of data is keeping mortgage rates in the same narrow range, as investors have issues reading the tea leaves. View the full article

The Detroit-based mortgage bank's announcement trailed competitors' by over two weeks, but is taking a more aggressive risk-reward stance on the limit. View the full article

Components of the index all rose, including the highest reading for sales expectations in the next six months since the start of the year. View the full article

Noninterest income at the Minneapolis-based company jumped more than 10% while asset quality improved and expenses held steady. View the full article

Despite the decrease, average profit margins approached 50%, as the lock-in effect continues to stymie inventory growth and keep home values elevated. View the full article

The head of the government-sponsored enterprises' oversight agency also asked existing investors to review risk factors as officials eye a new public offering. View the full article

More than 4,000 federal workers received notices Friday that their last day will be Dec. 9. View the full article

America's second-largest bank revised its net interest income target upward after what analysts called a "clean" third quarter. View the full article

A federal judge in San Francisco ordered a temporary halt to reduction in force orders issued by the Office of Management and Budget during the government shutdown, while OMB Director Russell Vought has said he expects to lay off more than 10,000 federal workers. View the full article

The megalender is accusing a nearby brokerage of skirting labor laws and avoiding significant overhead costs in misclassifying hundreds of employees. View the full article

The new platform already counts two lenders as embedded partners, with the rollout coming as mortgage leaders see rising demand coming for DSCR loans. View the full article

Federal Reserve Governor Stephan Miran said the economic standoff with China could increase market volatility, further necessitating the central bank to move its policy stance to neutral. View the full article

Plaid said LendScore should be viewed as complementary to FICO and other traditional players in the space, but there could be room for disruption in the future. View the full article

The Pittsburgh-based bank's solid third quarter comes weeks after it announced it plans to acquire a Colorado bank for $4.1 billion. View the full article

Retroactive interpretations have bedeviled mortgage servicers and the market for older loans. The industry will be watching other cases in New York closely now. View the full article

If Experian eventually charges for VantageScore 4.0, it will be offered for at least a 50% discount compared to what Fair Isaac Corp. charges for its FICO score. View the full article

Fannie Mae and Freddie Mac's credit risk-transfers and some older private-label mortgage-backed securities have exposures to the Washington DC area. View the full article

Lebda, who died over the weekend in an ATV accident, built one of the first online financial marketplaces in 1998. View the full article

Federal Reserve Chair Jerome Powell acknowledged skepticism around the central banks large-scale asset purchases during the pandemic, noting the Fed likely "should have stopped" sooner, but fell short of admitting that the purchase of MBS' contributed to housing disparities. View the full article

Rate-and-term transactions leaped by 154% from August to September, while cash-outs and purchase loans also increased, according to Optimal Blue. View the full article

Bilt Rewards, best known for offering renters rewards points for paying on time, plans to do the same for mortgages through a partnership with United Wholesale Mortgage LLC, its first tie-up with a home lender. View the full article

The largely direct-to-consumer lender will also offer reverse mortgage loans in the latest dealing between publicly traded industry players. View the full article

The San Francisco-based banking giant reported a 9% annual jump in quarterly profits. It also made official its appointment of CEO Charlie Scharf as chairman. View the full article