Special Program Root Tag

As federal watchdogs step back from regulating "Buy Now, Pay Later" loans, state authorities are stepping in. This week, the attorneys general from California and several other blue states joined the fight.

The Consumer Financial Protection Bureau plans to transfer its entire enforcement and legal divisions to the Department of Justice and is likely to staff in those units, according to sources briefed by agency leadership.

The credit score firm partnered with Plaid to bring additional cash-flow data into its previously released UltraFICO score.

President Trump has nominated Stuart Levenbach, associate director of the Office of Management and Budget, to be the director of the Consumer Financial Protection Bureau. His selection allows acting CFPB Director Russell Vought to remain in place for at least another 210 days.

While Fitch and Kroll have differing views on mortgage rates next year, both are looking for mortgage delinquencies to rise in their rated portfolios.

Fed Gov. Stephan Miran has spent his short tenure at the central bank arguing that disinflation in housing and immigration reforms will tamp down inflation in the near term. But other economists say the timing, degree and context of those effects is very much in question.

Two government-sponsored enterprises are looking into expanding mortgage transfers between borrowers, according to the head of their oversight agency.

The buy now/pay later firm, which reports earnings Thursday, has inked deals with Worldpay to expand potential borrowers and with New York Life to obtain more capital for future lending.

The Federal Open Market Committee is expected to announce guidance on the end of its quantitative tightening program later Wednesday. As that process draws to a close, experts are questioning when and how the central bank should use its balance sheet to smooth economic stress in the future.

Bill Pulte's X post has the industry excited that loan level price adjustments could change, but the impact would not be as beneficial as some think, KBW said.

The NRMLA/Riskspan Reverse Mortgage Market Index set a new high of 502.42, with the dollar amount of home equity for those 62 or over reaching $14.4 trillion.

The lender, which reported over $200 million in home equity line of credit volume in the recent quarter, suggests the business can deliver massive scale.

Legal experts say the Supreme Court's decision not to immediately rule on a request to remove Federal Reserve Gov. Lisa Cook from office suggests that, whatever the court's views on independent agencies may be, it views the central bank differently.

While new jobs data contributed to falling Treasury yields, mortgage rates showed a mixed picture with some trackers moving in opposite directions.

Intermediary automation has increased the immediate availability of product, pricing and eligibility information to both sides of the mortgage business.

Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.

Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.

New-home loan activity rose 1% in August year over year, but applications fell 6% from July.

As President Trump calls for scrapping quarterly earnings reports and switching to a six-month schedule, industry observers wonder whether the time saved would be worth the potential loss of transparency.