Scaling from Freelancer to Business Owner

The Mortgage Bankers Association's measure of refinancing dropped 7.1% to 634.1 in the week ended May 23. View the full article

The transaction is the fourth of its type the company has done this year through the partnership it has had with Crosscountry Mortgage since late 2022. View the full article

The company, which already offers services in 41 states, through the Summit Mortgage Training buy gets a foothold in New Jersey and Pennsylvania. View the full article

Regulators say the Mississippi-based depository satisfied the terms of the $5 million settlement it reached with Biden administration officials in 2021. View the full article

The Federal Reserve and several industry groups agreed to put an indefinite stay on their legal fight over the annual examination process. View the full article

The regulator says its prior amicus brief, which cited the Fair Debt Collection Practices Act and sided with borrowers, was no longer valid. View the full article

A federal housing official pledged to take near-term action on credit score costs as two legislators have urged him not to allow fewer credit reports. View the full article

The reverse stock split, consolidating eight shares into one, is designed to bring the Luxembourg-based company back into listing compliance on Nasdaq. View the full article

Despite interest rate volatility, prepayment rates also increased, surging to levels last seen in October, according to a new ICE Mortgage Technology report. View the full article

The run-up in prices since the pandemic, and mortgage rates hovering near 7%, have squeezed affordability for house hunters, pushing many to the sidelines. View the full article

The Mortgage Bankers Association deleted web pages including a diversity, equity and inclusion playbook, citing compliance with President The President's orders. 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

A recent deal involving a troubled Texas bank shows that even the most lopsided depository can find an exit. View the full article

Federal Reserve Gov. Lisa Cook said in a speech Friday that the market's response to recent volatility shows resilience, but more study is needed about the financial stability implications of business relationships between banks and nonbanks. View the full article

The top female loan originator in the mortgage industry logged $186.5 million in dollar volume over the course of 2024. View the full article

Purchases of new single-family homes increased 11% last month to a 743,000 annual rate, the highest level since February 2022, according to government data. View the full article

Rapidly rising tuition and housing costs both contributed to lower homeownership rates and a more than twofold surge in student debt in under 15 years. View the full article

The 14.3% rate for deals withdrawn in any April is the highest level other than in Covid-impacted 2020, as homebuyers reexamine the market, Redfin said. View the full article

Yields on the 10-year Treasury have been climbing because of the Moody's U.S. downgrade, the tax bill under debate in Congress and possible GSE reform. View the full article

Bond yields are shooting up for the second time in as many months. Federal Reserve Gov. Christopher Waller attributes the volatility to concerns about rising national debt levels. View the full article