A Black borrower alleged that Rocket Mortgage canceled her refinance application after she repeatedly requested that her home appraisal be revised because it was discriminatory.
HPS Investments, which owns nonprime originator/servicer Acra Lending and more, is toying with an IPO. Acra is a small part of what HPS owns, but it would open up the lender to public disclosures.
A broad cross-section of the industry supports legislation that would reinstate, make permanent and expand eligibility for the mortgage insurance premium tax deduction.
Affordable housing and community development advocates say taxpayers aren’t getting enough for the government subsidy of the FHLBanks. The FHLBanks say critics misunderstand their federal support.
Purchase mortgages and refis increased across the board in the agency MBS market in the third quarter, with the strongest growth seen in refis that carried primary mortgage insurance. (Includes three data tables.)
Ginnie Mae Acting President Sam Valverde believes long-term commitment of resources could allow the agency to do more to address nonbank liquidity challenges.
The refi boom fizzled in recent weeks as mortgage rates increased. Now it’s a waiting game for lenders and borrowers, with rates expected to go down, eventually.
TD Bank plans to sell some of its jumbo mortgages and a correspondent business to free up asset space under a new cap set by the OCC. Wells Fargo, meanwhile, appears to be nearing a release from its cap.
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