The Fed Is Costing the Feds Money
We had a pretty sharp upturn in rates in August. Since then, interest rates have remained elevated. It was a bit unexpected because most market analysts were predicting rates to ease a bit in
CFPB Issues Guidance on Credit Denials by Lenders Using Artificial Intelligence
Consumers must receive accurate and specific reasons for credit denials Today, the Consumer Financial Protection Bureau (CFPB) issued guidance about certain legal requirements that lenders must adhere to when using artificial intelligence and other
Share of Mortgage Loans in Forbearance Decreases to 0.33% in August
The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 6 basis points from 0.39% of servicers’ portfolio volume in the prior month
HUD Awards $8.6 Million to Provide Rental Assistance to Native American Veterans Experiencing Homelessness
WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) awarded today 29 Tribal HUD-Veterans Affairs Supportive Housing (Tribal HUD-VASH) renewal awards, totaling $8,588,580, to provide rental assistance and supportive services to Native American
August New Home Purchase Mortgage Applications Increased 20.6 Percent
WASHINGTON, D.C. (September 14, 2023) – The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2023 shows mortgage applications for new home purchases increased 20.6 percent compared from a year ago. Compared
Freddie Mac: Mortgage Rates Inch Back Up
MCLEAN, Va., Sept. 14, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.18 percent. “Mortgage rates inched back up this
Paradatec Continues to Grow Despite Lower Market Volumes
Number of users of award-winning AI-Cloud mortgage document automation technology increases 36% year-over-year Paradatec Inc., a market leader in AI-based document analysis technology for the lending and real estate industries, announced a 36% increase
Buyers are seeing more options as housing market hits its late-summer slowdown
The drought of new listings abated slightly in August, despite high mortgage rates New listings rose 4% in August, giving buyers more new choices. Appreciation eased off the gas, rising just 0.2% from July
Fannie Mae Announces Thirtieth Sale of Reperforming Loans
Fannie Mae (OTCQB: FNMA) today began marketing its thirtieth sale of reperforming loans as part of the company's ongoing effort to reduce the size of its retained mortgage portfolio. The sale consists of approximately 12,800 loans,
Black Knight Originations Market Monitor: Mortgage Activity Falls as Rates Hit Two-Decade High Amid Seasonal Headwinds
NEWS PROVIDED BY Black Knight, Inc. 11 Sep, 2023, 09:00 ET According to the Optimal Blue Mortgage Market Indices, 30-year conforming rates climbed above 7.25% in August, the highest level in more than 20