Mortgages

The Chicago-area lender, which at first was able to get the suit quashed, agreed to end the discrimination case by paying a $105,000 fine.

Aside from the pool primarily made up of second and junior liens in the pool, 82.2% of the loans were underwritten with alternative documentation.

Freddie Mac also indicated that it will be proceeding with its closely watched second-lien pilot, while Fannie reported gains in serving credit invisible borrowers.

Positive feedback from participants in existing programs led to the decision to expand them in order to assist more lenders.

As it gets ready for more competition from VantageScore, the company also did not comment on reports of yet another impending price hike.

A strong economy drove mortgage rates higher in the past week but it's still an advantageous market for consumers in some ways, according to Freddie Mac.

The lender claims the offering is the only one of its kind in today's mortgage market.

The Fed's short-term rate cut hasn't lowered 30-year mortgage rates, which have been flat, but some buyers had reasons to act sooner rather than later.

The class A and B notes will receive cash distributions to reduce the interest payment amount and any interest carryforward. Principal payments will follow interest payments.

Home prices are one driver. Other factors also have been exerting upward pressure on housing expenses that differ by region and lift the overall average.

Quantitative tightening has helped to keep mortgage rates elevated, but new concerns over how it impacts market liquidity could lead the Fed to end the program.

Total insured wind and flood losses are predicted to be between $10.5 billion and $17.5 billion, according to CoreLogic. Earlier estimates placed the cost of insured damages between $3 billion and $5 billion.

Companies announced new product rollouts and capital raises last month, but some are also facing lawsuits as the industry encounters heightened attention to the lack of consumer protections.

The conforming 30-year fixed rate mortgage rose to 6.12% on Oct. 3.

State housing finance agencies had a resurgent fiscal 2023 and the recent fed funds rate reduction could have a mixed impact on them, Fitch Ratings said.

Affordability improved for a fourth straight month, but questions remain about whether recent trends will bring a significant number of buyers into the housing market.

Mortgage rates being at a two-year low has not moved potential buyers off the sidelines, Freddie Mac says, but Redfin says demand for home tours is up.

Purchase activity trudged along during what lenders describe as a traditional end-of-summer slump.

Awareness of disaster risk has increased in the public and private sectors, and it appears to be prompting more interest in home improvements in particular.

While the lock-in effect on existing supply has helped drive consumer interest in new construction, first-time buyers have been taking a greater share of that inventory.