Scaling from Freelancer to Business Owner

A $1 billion assessment announced Tuesday for California's FAIR Plan, the state-mandated insurer of last resort, is expected to drive up premiums as companies will likely pass some of the costs onto homeowners. View the full article

While Freddie Mac's weekly survey showed 30-year rates falling, other indicators paint a mixed picture for mortgage lenders and borrowers. View the full article

But the company took a credit loss provision in the fourth quarter, deciding to add to its reserves because of new mortgage acquisitions to its portfolio. View the full article

A series of moves aimed at deleveraging its balance sheet led to the loss, but the bottom line improved markedly over 2023. View the full article

Foreclosure filings increased 7% in January from December, which could be a housing market starting to experience trouble, or a post-holiday return to normal. View the full article

A House Financial Services Committee spokesperson said the committee will hold its required semiannual hearing with the Consumer Financial Protection Bureau director after nominee Jonathan McKernan is confirmed rather than with interim director Russell Vought. View the full article

Federal Reserve Chair Jerome Powell said insurance companies and banks are already pulling out of disaster-prone areas, which could pose problems. View the full article

The Federal Reserve is set to refrain from cutting interest rates for "quite a while," following a hotter-than-expected inflation report, according to Mohamed El-Erian. View the full article

The company more than doubled results over comparable periods and exceeded estimates due to stronger economies of scale and valuation adjustments in its favor. View the full article

The latest refinance surge helped lift total application activity up for a second straight week, even as purchases fell, the Mortgage Bankers Association said. View the full article

The White House has tapped former Federal Deposit Insurance Corp. director Jonathan McKernan to lead the Consumer Financial Protection Bureau and attorney Jonathan Gould to lead the Office of the Comptroller of the Currency late Tuesday. 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

In comments to reporters, Sen. Elizabeth Warren, D-Mass., underscored what she said was a conflict of interest between Elon Musk's DOGE's actions at the Consumer Financial Protection Bureau and his business interests with X Money. View the full article

Joseph Otting, who is leading Flagstar's turnaround, said potential buyers may be interested in acquiring the regional bank once it gets past certain challenges. View the full article

Neo Home Loans, the business at the center of the trade secrets suit, has always maintained its independence in its lender partnerships, its co-creator claims. View the full article

Lenders increased offerings in jumbo and non-QM segments as the industry focuses on customers with strong credit, the Mortgage Bankers Association said. View the full article

The MBA disclosed the year-end rankings of income-producing mortgage servicers at its yearly conference for this part of the industry. View the full article

A stop-work order from the Consumer Financial Protection Bureau's newly appointed acting director Russell Vought has created uncertainty about the future of consumer-oriented enforcement activity. View the full article

A former Biden official called the bureau protection against another housing crisis. The current White House calls it a "weaponized arm of the bureaucracy." View the full article

The government-sponsored enterprises were not meant to remain in conservatorship permanently, but privatizing them once again must include a new set of rules that minimize market disruptions and maximize their focus on making homeownership affordable. View the full article

West Virginia has the lowest monthly mortgage payment of $1,838. View the full article

The acting leader is a co-author of the conservative playbook in which a former Fannie Mae and HUD director calls for abolishing the regulator. View the full article

The Mortgage Collaborative, Lereta welcome new CEOs, Planet Financial adds retail sales, title execs, Southern Bancorp names new head of production plus more industry moves. View the full article