Department of Housing and Urban Development whistleblowers spoke of being stopped from doing their jobs enforcing fair housing laws at a hearing led by Sen. Elizabeth Warren, D.-Massachusetts. Processing Content The hearing, called “Fair Housing Under Fire,” was held on Jan. 13. Warren is the ranking member of the Senate Banking, Housing, and Urban Affairs […]
Warren hearing spotlights HUD fair housing whistleblowers Read More »
SitusAMC is gearing up for a legal battle over the fallout of its data breach last fall, as eight class action complaints have been consolidated in federal court. Processing Content The cases quickly piled up after the industry vendor revealed in November that it suffered a cybersecurity incident. The company has emphasized no encryption nor
SitusAMC faces consolidated class actions after data breach Read More »
Key insight: Bilt and Affirm are developing products as political pressure mounts on bank-issued credit cards. What’s at stake: Consumers who get shut out of credit cards may look for new sources of credit. Forward look: Analysts say the odds of the Credit Card Competition Act passing are still low, but gaining momentum. It’s been
Bilt, Affirm aim to capitalize on proposed credit card rate cap Read More »
Mortgage rates moved modestly lower for the average lender today, but higher for others. The distinction is whether the lender in question made a late-day adjustment yesterday afternoon. At the time, the underlying market for mortgage bonds was improving somewhat sharply. This prompted several lenders to drop rates before the end of business. Those lenders
Mortgage Rates Higher For Some Lenders and Lower For Others Read More »
Andrew Harrer/Bloomberg Processing Content Key Insight: A panel of former Federal Reserve officials discussed the implications of a probe into Fed Chair Jerome Powell, saying the market’s muted reaction reflected political pushback against a potential indictment. Expert Quote: “Markets think these institutions will be strong enough to withstand these types of shocks.” — Randall Kroszner,
Former Fed officials: Markets still trust Fed independence Read More »
Government securitization guarantor Ginnie Mae is providing mortgage companies with more options for pooling loans as it starts 2026 with a newly confirmed president. Processing Content Electronic promissory notes, which Ginnie made eligible for commingling with traditional collateral back in 2024, can now be included in Pools Issued for Immediate Transfer starting Feb. 1. PIIT
Ginnie Mae adds pooling flexibilities as 2026 gets underway Read More »
New-home sales dropped in December compared with previous months, but remained above 2024 levels, according to new industry data. Processing Content Mortgage applications for new-home purchases decreased 15.2% on a seasonally-adjusted basis and 3% unadjusted from November to December, the Mortgage Bankers Association Builder Application Survey found. Compared with last December, applications increased 2.5%. “December
New-home sales slip in December despite annual gains Read More »
Mortgage rates fell to their lowest levels in more than three years after Pres. Trump ordered a $200 billion purchase of agency mortgage-backed securities, Freddie Mac said. Processing Content Spreads were already tightening as Freddie Mac and Fannie Mae have increased the size of their respective retained portfolios in recent months. The announcement further narrowed
Mortgage rates reach three-year low after MBS buy order Read More »
It’s hard to scroll online lately without seeing some version of this claim: “Big investors are buying up all the homes.” And honestly, if you’re a homebuyer who’s lost out on a few offers, that idea probably sounds believable. When homes are expensive and competition is tight, it’s easy to assume giant companies are scooping
Are Big Investors Really Buying Up All the Homes? Here’s the Truth. Read More »
It might seem odd that United Wholesale Mortgage, which is a national B2B organization, would have — and extend — a long-term partnership with an independent minor baseball league, which only plays in Michigan. Processing Content But its goal for the partnership is not to reach consumers, explained Sarah DeCiantis, chief marketing officer at UWM.
UWM bets on local baseball to build its workforce Read More »