Low-balance borrowers seeking to refinance pay proportionally higher closing costs and receive a smaller reduction in interest rates, according to findings published by the Federal Reserve.
loanDepot cites faults in wholesale channel; rate locks decline in July; foreclosure activity also down; MISMO seeking comments on various initiatives.
Mortgage earnings declined across a group of 24 banks in the second quarter of 2022 as rising interest rates continued to eat into originations and margins. The outlook for the third quarter isn’t great either. (Includes data chart.)
Industry experts are calling on mortgage lenders to boost spending on cybersecurity given the increased risk of cyberattacks due to work-from-home arrangements.
The Mortgage Bankers Association’s MORPAC political action committee has raised a record-breaking $2.7 million during the current election cycle and mortgage brokers recently launched their own PAC.
The House passed the SECURE Notarization Act, which would allow for remote online notarization and set minimum standards. It would also allow for interstate notarizations.
Borrowers in counties with higher rates of voting and census participation and more nonprofits receive faster loan approvals and better terms and exhibit lower rates of delinquency, according to a new study.
MBA punts on recession forecast; interest rates on mortgages expected to decline; Flagstar merger dragging on; homeowners want mortgage financing for energy improvements.
Last year was a record year in terms of loan production at $4.4 trillion. But oftentimes, when you have a boom, there’s an ugly hangover in the form of job cutbacks. How bad might it get?
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