Key insight: Inflation cooled slightly but continued upward in September, climbing 0.3% after August’s 0.4% gain. Supporting data: Prices rose 3.0% year over year, tracking with the increase in core CPI. Gasoline jumped 4.1%, while shelter rose 0.2%, its smallest gain since early 2021. Forward look: The results reinforce expectations that the Fed will proceed […]
Inflation up modestly in September; Fed on track for cut Read More »
This morning brought the release of the much-anticipated Consumer Price Index (CPI). This is one of the two biggest inflation reports from the U.S. government, and the only government inflation report that’s coming out during the shutdown. With big government data being a key consideration for interest rates, this special release got extra attention. Core
Mortgage Rates Little-Changed Despite Decent Inflation Data Read More »
Puerto Rico-based Popular Bank announced it is exiting home lending, the second institution to make the decision in a little over a month. The company said competitive pressure and the wish to focus on areas with greater revenue potential motivated their exit from the mortgage segment. “As part of our ongoing efforts to improve profitability, we
Popular Bank exits mortgage lending Read More »
After another money-losing quarter for Primelending, Hilltop Holding’s mortgage subsidiary through Plainscapital Bank, company management was cautiously optimistic about the future. In the third quarter, the mortgage business lost $7.2 million on a pretax basis. While it did turn a pretax profit of $3.2 million in the second quarter, in the three prior periods, Primelending
Primelending management cautiously optimistic about 2026 Read More »
New York Attorney General Letitia James pleaded not guilty on Friday to criminal charges that she committed bank fraud and made false statements to a lender when she bought a house in Norfolk, Virginia, five years ago. James is contesting charges brought earlier this month by a prosecutor whom President Donald Trump abruptly installed after her predecessor
NY Attorney General James pleads not guilty to US charges Read More »
Mortgage performance remained strong in September despite Federal Housing Administration loans driving up total foreclosures, according to new industry data. Overall foreclosure volume remained historically low, with foreclosure sales reaching 21,000 in the third quarter this year, roughly half of 2019’s pre-pandemic levels, according to a report from ICE Mortgage Technology. FHA loans accounted for
FHA foreclosures drag down strong mortgage performance Read More »
Andrew Harrer/Bloomberg Key Insight: The Federal Reserve’s proposal would release the central bank’s back-end stress testing models, and is out for public comment through Jan. 22, 2026. Expert Quote: “The Board’s stress testing program has operated with limited transparency, unreasonable year-over-year volatility, and the absence of any meaningful appeals process.” — Fed Vice Chair for
Fed proposal would publish full stress test models Read More »
Bob Hartheimer, Evolve Bank and Trust’s new CEO, has been arrested on charges of sexual exploitation of a minor and distribution of obscene material, according to Shelby County records. He was escorted out of the bank’s East Memphis, Tennessee, headquarters by FBI agents on Thursday morning and is scheduled to appear in federal court on
Evolve Bank CEO arrested on charges of child exploitation Read More »
Publicly traded homebuilders were tested in the most recent quarter by slowing volume and political and economic factors, but proved resilient as they navigated through various challenges. Companies reported shrinking profits but still posted positive numbers, with falling mortgage rates providing some boost, even as consumer sentiment languishes. Although the cloud of tariff policies continues
Profits up while sales fall: How homebuilders did it Read More »
Waterstone Financial’s mortgage banking business recorded much higher net and pretax income in the third quarter compared to performance one year prior, even as the company produced 3.5% fewer loans. The company, in both its mortgage banking and community banking segments, was able to sustain its improved performance for the year during the quarter, said
Waterstone Mortgage profits surge even as loans fall Read More »