Mortgages

Ongoing weakness in housing markets and the economy has now driven purchase activity to its lowest level since 2015, while overall application numbers decreased for the 10th time in 11 weeks.

In a week where homebuilding stocks were faced with surging U.S. Treasury yields and data showing weakening demand for homes, one analyst is throwing in the towel on the sector.

That's left mortgage servicing rights investors with fewer concerns about runoff, but buyers have less in the way of recapture opportunities.

The automation provider, which could merge with ICE Mortgage next year, is updating secondary market tools sorely needed in a volatile market.

The development, touted as an industry-first, is the latest move by the government-sponsored enterprises to expand housing opportunities for first-time and underserved homebuyers.

Quarterly numbers also show the smallest gain in appreciation since 2011, with values decreasing on an unadjusted basis, according to Fannie Mae.

The impairment rate for securitized non-qualified mortgages improved a little in August after increasing slightly the two previous months.

The agreement, the lender and servicer's only such facility, is set to expire at the end of next September.

Decline was largely driven by a large dip in cash-out refinance locks.

The company previously announced it would also close its consumer-direct operations, which relied heavily on refinance activity.

The settlement with an insurer over Countrywide's mortgage-backed securities closes another chapter on what quickly proved to be an ill-advised acquisition for Bank of America. A trial on the case had kicked off last month.

The wholesale channel tool will speed up mortgage processing time by as much as 40%, the lender claims.

In the face of a growing number in home-equity products, HECM endorsements dropped nationwide by over 43% on a monthly basis to its lowest point in more than two years.

The company said it will prepay two securitization facilities and terminate financial arrangements including at least two involving U.S. Bank.

Wind and storm surge damage to residential and commercial properties could reach $47 billion, according to a CoreLogic analysis.

The Federal Housing Finance Agency got an earful from housing experts at a listening session intended to aid a comprehensive review of the financing system.

Three percent of all mortgages were 30 or more days past due on their scheduled payment or in foreclosure in July.

While the agency affirmed the bank's current high ratings, it also cited instances of noncompliance, which led to the downgrade.

The month ended with 54,000 less properties for which the borrower was at least 30 days or more late on their payments, Black Knight said.

On the other hand, the economists from the UCLA Anderson Forecast claim the U.S. is not currently in a recession and that the chance of a recession in the next 12 months is less than 50%.