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WEB5 days ago · Home equity investment products gain steam amid growing legal scrutiny. Companies announced new product rollouts and capital raises last month, but some are also facing lawsuits as the industry encounters heightened attention to the lack of consumer protections. By Spencer Lee. October 4.
As election nears, should investors reconsider Fannie Mae?
WEBJul 30, 2024 · The prospect of an exit from conservatorship in a second Trump administration has some experts looking at what this could mean for investors. "The value of the common stock would be highly uncertain in a recap, but preferred issuers are likely to be redeemed or converted at face value," Vlae Kershner, an investor, wrote on Seeking Alpha, referencing a comment by former FHFA Director Mark ...
Wells Fargo explains origination tech in lawsuit defense
WEBJul 31, 2024 · Plaintiffs say the bank wrongfully rejected minority mortgage applicants at a higher rate than its lending peers during the low interest rate environment of yesteryear. The proposed class of 119,100 consumers blames the banking giant's origination technology, which Wells defended in its motion for summary judgment last week in a …
Mortgage interest rates inch down - National Mortgage News
WEBAug 22, 2024 · The 30-year fixed rate loan averaged 6.46% as of Aug. 22, down from last week's 6.49%, the Freddie Mac Primary Mortgage Market Survey reported. A year ago, The 15-year FRM also fell, moving to 5.62%, from 5.66% last week. For the same week in 2023, it averaged 6.55%. "Although mortgage rates have stayed relatively flat over the past couple of ...
Wells Fargo commercial servicing sale makes Trimont a leader
WEBAug 20, 2024 · Wells Fargo plans to exit the third-party, non-agency commercial mortgage servicing business through a sale that will make the buyer a leader in one portion of the U.S. market. The Atlanta-based Trimont has agreed to buy non-agency servicing in the acquisition. Wells will retain certain servicing for government-related mortgages.
Swiss bank reports agreement to sell U.S. mortgage unit
WEBAug 14, 2024 · "We agreed to sell Credit Suisse's U.S. mortgage servicing business," Chief Financial Officer Todd Tuckner said Wednesday, noting that the transaction would reduce risk weighted assets at UBS by roughly $1.3 billion …
2021's Top Producers, Nos. 1-50 - National Mortgage News
WEBApr 12, 2021 · For the first time in the 23-year history of National Mortgage News' survey, there is a billion dollar producer at the top of the list. Christopher Gallo, a senior loan officer at NJ Lenders Corp. in Ho-Ho-Kus, N.J., logged …
FHA makes long-awaited changes to 203(k) program
WEBJuly 10, 2024, 5:00 a.m. EDT 2 Min Read. A long-awaited upgrade for the Federal Housing Administration's 203 (k) program has finally hit the books, as its parent agency issued a mortgagee letter detailing changes designed to increase use. Brad Finkelstein. Originations Editor, National Mortgage News.
Mortgages for new homes see summer resurgence
WEBAug 16, 2024 · Renewed interest in the new single-family residential market was "helped by sustained demand for new homes and declining mortgage rates," said Joel Kan, MBA vice president and deputy chief economist in a press release.
20 mortgage servicing banks with the largest MSR volumes
WEBOct 24, 2022 · The top five banks in our ranking have a combined MSR volume of more than $15 billion at the end of Q2. Many servicers saw growth between Q1 and Q2, with one seeing growth of 42.14%. This ranking is based upon MortgageStats data drawn from uniform bank performance reports filed to the Federal …