Mortgages

The acquisition adds mortgage warehouse lending to Minnesota's Stearns Bank, the latest to offer the service during a multiyear period that has seen several new entrants and exits.

The subcommittee to be chaired by Sen. Katie Britt, R.- Ala. will oversee servicing and HUD at a time when Republicans are resurfacing legislative proposals they now have more power to advance.

Fees falling outside of tolerances cost the industry more than $1 million per 1,000 loans, according to an ICE Mortgage Technology study from earlier this year.

Commoditization of mortgages, plus technology that eases the refinance process, and the regulatory environment, all contributed to the decision.

The incoming administration will have a number of tools at its disposal to immediately pare back stifling federal regulation of financial services and boost the housing market. It should use them.

A trio of blazes in SoCal have destroyed over 2,000 homes and structures in neighborhoods with average property values well above the national average.

Ally Financial Inc. will cut jobs, end mortgage originations and consider strategic alternatives for its credit-card business as borrowers have struggled to pay down costly debt.

The manufactured home loan lender, a unit of Berkshire Hathaway subsidiary Clayton Homes, was accused of ignoring red flags that sent many borrowers into bankruptcy, default and ultimately out of their homes.

The Freddie Mac mortgage rate tracker on Thursday morning showed the conforming 30-year fixed rate mortgage creep closer to the 7% level last seen in May.

The Seattle-based company's deal with Bank of America comes five weeks after the termination of its planned sale to FirstSun Capital Bancorp in Denver.