Mortgages

Federal Reserve Bank of Dallas President Lorie Logan repeated her call for the U.S. central bank to lower interest rates at a careful pace as the economic environment remains uncertain.

After NYCB streamlined its branch operations under the Flagstar name, the publicly traded company will begin trading under a new stock ticker symbol in late October.

The Consumer Financial Protection Bureau and Department of Justice issued a consent order against Wisconsin-based nonbank mortgage originator Fairway Independent Mortgage over redlining allegations. Fairway is the country's fifth-largest mortgage originator by volume.

The top five credit unions have combined real estate loans and lines of credit of more than $217 million as of June 30.

While the Freddie Mac survey found the 30-year fixed fell 11 basis points, other indicators, including the 10-year Treasury yield, have all increased.

The 30-year fixed rate mortgage fell week-to-week by the largest amount since the start of August and are now almost a percentage point lower than a year ago, according to Freddie Mac.

The latest inflation news is almost sure to result in a 25 basis point cut next week, but some are still hoping for 50 basis points, as well as reductions totaling almost 200 basis points through the end of 2025, Wolters Kluwer found.

Lower inflation doesn't equate to lower prices, and costs of living may still be higher than pre-pandemic, especially rents. But the varying cooldown could help.

Consumer Financial Protection Bureau Director Rohit Chopra will be looking at whether automation accommodates or undermines potential savings from refinancing.

The bank has brought in mortgage industry veteran Ken Logan as senior managing director to oversee a broader range of financing it's offering to home lenders.

After hikes pinched profits across the industry, a move in the opposite direction could be the start of a more promising trend. But bankers caution that the immediate effects of a September rate cut figure to be small.

Other estimates suggest nonbank mortgage employment grew in July as the industry cautiously added staff to handle incremental growth in demand for loans.

Mr. Cooper will be filing a motion to dismiss a data breach-related class action by Sept.13, documents show.

Melody Taylor, the executive director of the Property Appraisal and Valuation Equity task force, said the interagency group went above and beyond expectations. She also defended it against common attacks from working appraisers.

Trimont CEO Bill Sexton acknowledges that a "daunting" volume of commercial real estate loans need to be refinanced in the next few years. But he says nonbank lenders are well equipped to provide financing that will allow troubled buildings to be reimagined.

Real estate agents and loan officers from post-Soviet states say the war has altered relationships between one another and made dialogue with some clients strained.

The plaintiffs' 2nd Circuit filing in the Bank of America escrow preemption case is the first since the Supreme Court sent it back for more analysis.

Vice President Kamala Harris has pledged to build 3 million new housing units over her first term. Rehabilitating vacant housing might be one of the most cost-effective ways to meet that goal — and address many other problems at the same time.

The interagency Property Appraisal and Valuation Equity initiative, which was tasked by the Biden administration with rooting out bias in home valuations, appears to have run its course. But experts say it could be years before the group's efforts bear fruit.