Mortgage rates were mixed in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.65% as of March 13, down slightly from last week when it averaged 6.67%. A year ago at this time, it averaged...
The Consumer Financial Protection Bureau (CFPB) is seeking to vacate its $105,000 settlement of redlining charges against nonbank mortgage lender and broker Townstone Financial Inc. The settlement followed a protracted litigation that began in 2020 under the first...
Housing and Urban Development (HUD) Secretary Scott Turner announced residency requirements for Federal Housing Administration (FHA)-insured mortgages were changed to eliminate the “non-permanent residents” category from the Title I and Title II programs. In a...
Major expenses on median-priced homes currently consume 32% of the average national wage, according to the First Quarter US Home Affordability Report published by ATTOM. That share is nearly unchanged from the fourth quarter of 2024 and up by about one percentage...
A slowing in refinance activity drove down mortgage application activity for the week ending March 21, according to data from Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, decreased 2% on both a...
Dallas-headquartered Cornerstone Capital Bank has launched two joint venture companies with homebuilders in Texas and North Carolina. Twin Tree Mortgage, based in Waxahachie, Texas, is a joint venture with Elmwood Homes that will provide mortgage solutions for...
