Scaling from Freelancer to Business Owner

The contract rate on a 30-year mortgage rose 6 basis points to 6.92% in the week ended May 16, according to Mortgage Bankers Association data released Wednesday. View the full article

Fair Isaac Corp.'s shares saw their worst day since March 2020 on Wednesday, falling alongside credit bureau stocks after the head of the Federal Housing Finance Agency questioned credit report pricing. View the full article

Getting settlement agents and other stakeholders involved was a challenge, but e-note use has finally become routine for some mortgage lenders buying loans. View the full article

As private credit tops $1 trillion, Fed researchers warn bank exposure to the sector could spark systemic risk if defaults spike. 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

Whether in fake ads or misleading documents, anywhere fraud might be happening on Google, banks have a new way to quickly shut it down. View the full article

Alanna McCargo said her return comes at a time when there are "significant policy challenges ahead for affordability, community investment and inclusive finance." View the full article

Increases in gross domestic product and home sales expectations compared with April are the drivers of Fannie Mae's latest mortgage outlook for 2025 and 2026. View the full article

The federal official told a group of bank supervisors that the move, which Democrats oppose and the industry has mixed views on, will give them more autonomy. View the full article

The startup, which emerged from Y Combinator in 2023, has deployed its software at a long list of community banks and fintechs, including Grasshopper Bank and First Internet Bank. View the full article

The size of typical bulk MSR deals trading has shrunk, according to panelists at the Mortgage Bankers Association's Secondary and Capital Markets Conference. View the full article

An explicit guarantee for Fannie Mae and Freddie Mac could cause the risk weighting of agency MBS to decline, in turn freeing up banks' balance sheets. View the full article

Starting with the client for life concept, executives from Rocket and CMG Financial described what is happening at their nonbanks to achieve future success. View the full article

Discrepancies between servicer and investor systems have been rare recently but the dollar amounts involved magnify the impact, according to PMSI's CEO. View the full article

Months after OceanFirst Financial settled federal redlining allegations, it received the highest possible Community Reinvestment Act rating from the Office of the Comptroller of the Currency. CEO Christopher Maher said the bank made a "significant effort" to introduce its lending products to markets it had recently entered via acquisition. View the full article

Leaders of the government mortgage programs suggest they're back to business as usual following the The President administration's initial disruption. View the full article

Rocket Companies and Redfin argue in court filings that a lawsuit seeking to delay their merger is motivated by the plaintiff's personal gain, not concern for investors. View the full article

Despite data pointing to overall health, concerns about the direction of the economy are raised among consumers, businesses and investors alike, the Fed governor said. View the full article

The Consumer Financial Protection Bureau has withdrawn guidance that allowed states to bring enforcement actions broadly under federal consumer protection laws. View the full article

COO Joseph Gormley weighed in on cuts at the securitization guarantor and efforts to improve the industry's efficiencies and the government's. View the full article

The Mortgage Bankers Association latest forecast reflects the industry's current views on where their business is going, said Mike Fratantoni. View the full article

Mortgage brokers say hurdles more pressing than a high interest rate environment range from nationwide inventory shortages to property tax increases. View the full article