Banks tightened underwriting standards for HELOCs in the first quarter and demand from borrowers declined. The only HEL lender among the top five to increase production in the first quarter of 2024 was a nonbank. (Includes three data tables.)
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The CFPB has permanently banned three companies from servicing reverse mortgages. Separately, the bureau issued a proposed order against Freedom Mortgage for repeated submissions of faulty HMDA data.
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Is your mortgage CEO worth $30 million a year? $20 million? That may depend on the company’s share price. It might be argued that some executives of publicly traded nonbanks earn their keep while others might be in for a case of comeuppance. (Includes data table.)
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Increasingly, consumers are looking to the government for help with housing affordability, according to a survey conducted for the Bipartisan Policy Center and the National Housing Conference.
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Homeownership rates and household incomes differ dramatically within the AANHPI demographic. Some 65% of Filipino-Americans own their home while just 44% of Tongan-Americans do.
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Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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