Ally Financial closes mortgage origination business
Ally Financial announced Wednesday that it would exit the mortgage origination business as part of a broader strategy to pursue higher returns on investments.
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MBA promotes Jamie Woodwell to lead its commercial, multifamily public policy efforts
The Mortgage Bankers Association (MBA) on Monday appointed Jamie Woodwell as its senior vice president of commercial/multifamily policy and strategic industry engagement.
Mortgage demand drops 22% during holidays as rates move higher
Rising mortgage rates suppressed applications in the MBA’s final mortgage applications survey index of 2024, released on Thursday. Unsurprisingly, application volume dropped significantly even with a seasonal adjustment to account for the holidays.
Loss-mitigation waterfalls face a murky future under Trump administration
Servicers have a request for the incoming Trump administration — standardization and simplification of loss-mitigation frameworks.
Mortgage groups gear up to get trigger leads bill passed in 2025
The trigger leads bill has become a 2025 priority for the mortgage industry after failing to pass the House of Representatives last week, despite Senate approval.
CFPB sues Rocket, The Jason Mitchell Group over RESPA violations
The CFPB is accusing Rocket Homes of orchestrating a kickback scheme to funnel business to its sister companies.
Mortgage groups push FHA for loss mitigation extension
In November, the FHA proposed updates to its permanent loss-mitigation options based on lessons from the COVID-19 temporary policies.
Another Fed rate cut is expected Wednesday, but mortgage rates aren’t likely to tumble
Mortgage rates haven’t moved in tandem with recent Fed rate cuts. Don’t expect that pattern to change much after policymakers meet Wednesday.
CBO report shows GSEs have better conditions to repay Treasury by recapitalizing
The Congressional Budget Office (CBO) released a study on Friday suggesting that a recapitalization of the government-sponsored enterprises could benefit the U.S. Department of the Treasury in most scenarios.
CoreLogic: Mortgage delinquencies kept climbing in September
September signified a steady decline in mortgage performance since the end of third-quarter 2023. About 3% of all mortgages were in some form of delinquency in September 2024 — up 20 basis points year over year, according to a CoreLogic report released this week.