Mortgages

Purchases managed a small rise, but refinance activity held steady, according to the Mortgage Bankers Association.

About 85% of U.S. homeowners have interest rates below 6%, while a little over 50% of homeowners have a rate below 4%, Redfin's report said.

The interagency Property Appraisal and Valuation Equity initiative, which was tasked by the Biden administration with rooting out bias in home valuations, appears to have run its course. But experts say it could be years before the group's efforts bear fruit.

Vice President Kamala Harris' pledge to deliver 3 million homes has drawn applause from homebuilders, lenders and affordability advocates, but experts are uncertain how her administration would pull it off.

The 30-year fixed rate mortgage is lingering just shy of 6.5% level, which is not low enough to bring home purchasers back into the market, observers said.

Aside from a $2 million penalty for violating the servicing laws, but the order included told Fay Servicing to pay consumers $3 million in redress and make a $2 million capital investment updating its servicing technology and compliance management systems.

The banking giant's sale of the non-agency, third-party portion of its commercial servicing business will boost the buyer's position in the securitized market.

Investor demand for loans made outside the qualified mortgage definition can shift over time. It's recently been going through a period of particular strength.

While the total dollar volume of apartment originations fell last year, the number of companies making loans increased from 2022, the Mortgage Bankers Association said.

Nearly two-thirds of consumers in a July survey said they expect mortgage rates to decline soon, but most want to see them cross a very specific threshold before they act, Mphasis Digital Risk found.

Thanh Roettele will help guide the Canadian bank's growth in the mortgage warehouse space in one of its latest moves aimed at the U.S. market.

Issuance of new mortgage-backed securities guaranteed by Ginnie Mae has returned to levels last seen during the year monetary policymakers began raising rates.

The change in medical debt reporting initiated by the three credit bureaus did not go far enough as 15 million Americans are still impacted, the groups led by the National Consumer Law Center said.

Moderating interest rates in the first quarter led to changing fortunes from 2022 and 2023, a Transunion report said.

The Treasury, CFPB and Federal Trade Commission are joining forces to warn consumers about predatory practices in financing solar energy panels.

The country's renter population is dramatically outpacing the growth in homeowner households due to a multifamily construction boom that's limited price gains.

Market turmoil is driving the 10-year Treasury yield downward and taking mortgage rates with it, putting more borrowers in the money to refinance, Intercontinental Exchange said.

Major banks revamped their forecasts for US monetary policy Friday after data showed the US unemployment rate rose again in July, calling for earlier, bigger or more interest-rate cuts.

While the REIT still seeks to grow servicing, it's been willing to sell for the right price as it responds to new rate-related risks and opportunities.

Michigan-based University Bancorp is paying $30 million for a 50.5% stake in a business Voxtur acquired for $101 million in 2022.