Mortgages

Wells Fargo is pursuing private mediation to settle claims of widespread discrimination against Black homeowners by denying them lower interest rates through refinancing and forcing them to pay more for loans.

Six regulatory agencies are seeking public comment on a proposed rule that would establish best practices for using automated valuation models to assess collateral.

A change in investor sentiment toward an expected pause by the Fed in short-term rate hikes was the driving force behind the current surge, Freddie Mac said.

But when compared past periods of upheaval, those rates remain relatively low, the Mortgage Bankers Association report showed.

The 30-year average for both conforming and jumbo loans jumped more than 20 basis points, according to the Mortgage Bankers Association.

Citing "changing market dynamics," the company announced it will exit mortgage lending this summer.

The regional bank made the deal as part of an effort to bolster liquidity following turmoil among its peers.

As the Federal Housing Finance Agency considers how to prepare the system for the future, it can keep member liquidity steady while still boosting affordable housing.

As part of its receivership of Signature Bank, the agency was given the stock to sell by June 8.

The CEO of Kind Lending chatted about his current and past businesses, how to build a successful shop and his upcoming book.