Scaling from Freelancer to Business Owner

Sean Desmond, the new CEO of nCino, hinted at some of the products under development in an interview with American Banker. View the full article

Fannie Mae set aside $752 million for credit losses in its apartment complex lending business in part because of fraud or suspected fraud, denting profits amid an industrywide scrutiny of borrowers. View the full article

The Community Home Lenders of America wants streamlined regulations for smaller independent mortgage bankers from the Bureau, including on compensation. View the full article

At the same time builders and lenders report contracting credit on offer, sentiment in the residential construction industry improved in the latter half of 2024. View the full article

The president of the union for department employees claims 50% of HUD's workforce will be cut, and government contracts were being scrutinized. View the full article

Consumer and employees groups are seeking a restraining order against CFPB acting Director Russell Vought, arguing that he was unlawfully installed and has "no power to direct" the bureau. View the full article

The consortium of businesses intends to work with state regulators to protect consumers as interest from secondary market investors also grows. View the full article

The enterprise failed to improve on its net income but did report a steady profit, and got closer to meeting minimum risk-based regulatory capital requirements. View the full article

If the government were to end the Fannie Mae and Freddie Mac conservatorships, the new status could constrain CRT deal ratings, as they are counterparties. View the full article

Southeast homeowners affected by the storms last fall submitted a combined over 78,500 flood insurance claims to the National Flood Insurance Program. View the full article

North American banks face heightened anti-money laundering scrutiny and a few related variables will determine whether or not this leads to more mortgage sales. View the full article

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