Mortgages

But following the gross domestic product and personal consumption expenditures reports, Treasury yields and mortgage rates fell.

Third-party origination operations are also going to Mr. Cooper in the $1.4 billion deal, in which the seller cited interest in improving its capital position.

The parent company of Flagstar Bank reported a net loss of $323 million for the second quarter after boosting loan-loss provisions and recording a steep increase in net charge-offs. Still, it says it's making progress on a turnaround plan, including by agreeing to the sale of its mortgage servicing business.

The Department of Housing and Urban Development and the Nationwide Multistate Licensing System also reportedly had disruptions.

Even though the 30-year fixed rate mortgage is at its lowest level since mid-March, consumers are being cautious in returning to the market, Freddie Mac said.

The final rule governing the use of automated valuation models for home assessments is substantially similar to the initial proposal made last June.

With Americans suffering from high housing costs and declining supply, we cannot afford to watch a massive government-sponsored enterprise sit on billions in retained earnings.

As part of the three-year agreement, the group will fund a $1.22 million scholarship fund to recruit minorities into the appraisal profession.

Positive signs on jobs and inflation help drive the 10-year Treasury yield lower, and lead investors to forecast a short-term rate cut sooner than later, Freddie Mac said.

The top five community banks have combined first mortgage loans of more than $2.8 billion as of March 31, 2024.

The Consumer Financial Protection Bureau has proposed requiring that mortgage servicers exhaust all efforts at assisting struggling borrowers before moving ahead with a foreclosure.

The bank acquired these business purpose non-qualified mortgage loans originated by Civic Financial Services in the PacWest Bancorp deal.

The plan from the Heritage Foundation, a group the first Trump administration was largely in line with, would shutter CFPB, break up HUD and raise FHA premiums.

But economists seem to differ on what the latest movement in mortgage rates means for the summer home sales business.

The Federal Housing Finance Agency wants feedback on how the Federal Home Loan banks can improve their affordable housing programs, including efficiencies in the application process.

Markets appeared to welcome signs of future rate relief, with the latest Freddie Mac average falling for the fifth time in six weeks.

The 30-year fixed-rate mortgage average dropped back below the 7% level as investors reacted positively to news the economy is slowing, Freddie Mac said.