Mortgages

The reduction in employment followed a rise in rates this summer, but hiring has generally been stable since spring.

The customers were affected by an incident involving a Progress Software program used by Sovos Compliance.

The government-sponsored enterprises have consistently earmarked some distressed loans for community, nonprofit and minority investors. Certain Democrats want more.

The lender was accused in a recent lawsuit of failing to meet its obligations to underserved borrowers in lieu of wealthy clients.

The company in a court filing suggests it has funds available for its unsecured creditors, led by a private equity firm, major banks and a servicer.

An economic slowdown would deliver lower interest rates but tighter credit standards, while a "soft landing" for the economy wouldn't solve the low inventory problem, a new report said.

While a majority of current forborne borrowers sought relief for reasons related to COVID-19, servicers are seeing a growing share of cases involving natural disasters or personal financial issues, the Mortgage Bankers Association said.

While the share is slightly lower than at the start of 2023, the market is not expected to slip back to lower pre-pandemic levels, CoreLogic said.

Lenders reported a net loss of $534 on each loan they originated in the last quarter, an improvement from the $1,972 loss per loan the quarter prior.

The average for a 30-year home loan marked the fourth straight week of increases, according to Freddie Mac.