Aug 10, 2022 |
syndicator
California Democratic Congresswoman Maxine Waters wants Consumer Financial Protection Bureau Director Rohit Chopra to put a “moratorium” on Equifax, after it reported faulty credit scores of millions of consumers. Waters, who chairs the House Financial Services Committee, asked Chopra to stop the credit bureau from sending scores to financial institutions until it can demonstrate it […more]
Aug 10, 2022 |
syndicator
Despite recording yet another quarter with a net loss, Doma executives remain steadfastly committed to reaching profitability by the end of 2023. During the second quarter of 2022, the title underwriter earned $124 million in revenue, down from the $130 million recorded a year ago, but up 10% from the previous quarter. The firm’s GAAP […more]
Aug 10, 2022 |
syndicator
When the sky is falling in the mortgage industry, generally there is something else that is rising. For many larger nonbank lenders, including UWM Holdings Corp., the parent of United Wholesale Mortgage (UWM), what is rising in their favor is the value of mortgage servicing rights (MSRs). UWM, the nation’s largest wholesale mortgage lender, recorded net income of $215.4 […more]
Aug 10, 2022 |
syndicator
Having been listed for $8 million near the end of 2019, relisted for $7.45 million last year, and then reduced three times, down to $5.16 million last October, the landmarked Art Deco building with a Streamline Modern addition at 320-326 Judah Street, which was built for the San Francisco builder extraordinaire, Henry Doelger, back in […more]
Aug 10, 2022 |
syndicator
Mortgage lender Celebrity Home Loans shut down its correspondent channel and laid off employees on Tuesday. Amid a market downturn, the company has decided to focus on the retail lending business. “As one of the few retail lenders that saw production grow from Q1 to Q2, we’ve decided to keep our focus on our greatest strength: retail […more]
Aug 10, 2022 |
syndicator
Ginnie Mae and the Federal Housing Administration are looking to take a bigger bite out of manufactured housing finance. In a request for input the agencies published at the end of July, FHA and Ginnie Mae detailed an array potential changes to make the manufactured housing Title I program more palatable for lenders. Potential changes […more]
Aug 10, 2022 |
syndicator
Angel Oak Capital Advisors, the investment management arm of non-QM lender Angel Oak Cos., has agreed to pay $1.75 million to settle charges brought by the U.S. Securities and Exchange Commission (SEC) alleging that the company misled investors about the delinquency rates in a 2018 private-label securitization involving fix-and-flip loans. Also charged in the case, according […more]
Aug 10, 2022 |
syndicator
After rising to its highest level in 40 years in June, inflation dropped slightly in July. Thanks to a decrease in the gasoline index the Consumer Price Index (CPI) remained unchanged from the month prior, after hitting a 1.3% seasonally adjusted rate in June, according to data released Wednesday by the Bureau of Labor Statistics. […more]
Aug 10, 2022 |
syndicator
Whether you optimistically hope that mortgage rates will decline or are resigned that rates will stay elevated above the historic lows of 2021, you may be wondering when it makes sense to sign an agreement with your lender that locks in a specific rate. We asked two experts for advice: Eric Johnson, a branch manager […more]
Aug 10, 2022 |
syndicator
While mortgage loan application volume in the U.S. inched up 0.2 percent on a seasonally adjusted basis over the past week overall, driven by a 4 percent increase in the volume of applications to refinance, purchase mortgage activity ticked down another one (1) percent on a seasonally adjusted basis, down two (2) percent in the […more]