Innovative technology could be a key determinant of whether servicers have competitive expense controls that are crucial in the current market, according to executives at mortgage fintech Livegage. “Mortgage servicing is hard. There’s a lot of focus on the cost and the margins. It’s not an easy business to be in,” said CEO Anupam Sarwaikar. […]
How servicers can control costs in a tough market: Livegage Read More »
The median age of first-time homebuyers in the US has climbed to a record of 40 as soaring prices and mortgage rates over the last few years delay homeownership for millions of Americans. The age at which people purchase their first home has climbed rapidly since 2021, when the median was 33, according to a
US median first-time homebuyer age now at record-high of 40 Read More »
Key insight: Gould argued the OCC can only ensure fair oversight by admitting qualified fintechs and crypto firms through national trust charters, saying regulation outside the perimeter is impossible. Supporting data: He acknowledged concerns over fairness as the OCC reviews trust charters like Coinbase’s and said Dodd-Frank narrowed the “scope of banking relevance,” driving innovation
Gould backs charters to bring nonbanks into regulatory fold Read More »
Key Insight: Fed Vice Chair for Supervision Michelle Bowman said she wants banks to have an even playing field with nonbanks when it comes to holding digital assets, though stressed this should be done in a way that promotes safety and soundness. Expert quote: “We want to make sure [banks are] engaging in a way that separates
Fed’s Bowman seeks level field for banks on digital assets Read More »
Dear Readers, Next week, we’ll be introducing the redesigned National Mortgage News home page, a transformation inspired by how today’s mortgage industry professionals learn, connect, and grow. Our goal was simple: to make it easier for you to access everything National Mortgage News has to offer. While our award-winning journalism remains at the heart of
A new experience, designed for today’s mortgage industry execs Read More »
If there was one simple step that could help make your home sale a seamless process, wouldn’t you want to know about it? There’s a lot that happens from the time your house goes under contract to closing day. And a few things still have to go right for the deal to go through. But
How To Make Sure Your Sale Crosses the Finish Line Read More »
Up until last week’s Fed announcement, the average 30yr fixed mortgage rate was at the lowest levels in more than a year (in many cases, matching the same lows seen on September 16th–the day before the previous Fed announcement). Although these past 2 post-Fed episodes have resulted in somewhat volatile bounces, rates are still far
Highest Rates in Just Over 3 Weeks Read More »
The inspector general of the Federal Housing Finance Agency has reportedly been ousted, leaving vacant a key internal overseer. Acting IG Joe Allen is being removed from his role, Reuters reported Monday afternoon, citing four unnamed sources. Allen, the Office of Inspector General’s chief counsel and a longtime Department of Justice employee, replaced former Biden
FHFA’s internal watchdog reportedly ousted Read More »
Flagstar Bank has agreed to a $31.5 million settlement to resolve two class action lawsuits stemming from data breaches which impacted over 2 million consumers. The agreement, pending a Michigan federal judge’s approval, will create the fund for approximately 2,187,170 class members, according to case filings in October. The bank suffered two distinct cyberattacks in
Flagstar agrees to $31.5 million data breach settlement Read More »
Samuel Corum/Bloomberg What’s at stake: The CFPB uses outdated software and has no strategy for responding to cybersecurity risks, the report found. Supporting Data: The CFPB’s information security program experienced a rapid drop in effectiveness — from a level 4 in fiscal year 2024 to a level 2 rating in fiscal year 2025. Forward Look:
CFPB’s cybersecurity program ‘no longer effective:’ OIG says Read More »