Last year was problematic for independent mortgage banks and the mortgage subsidiaries of chartered banks – according to new data from the Mortgage Bankers Association (MBA), this sector lost an average of $1,056 on each loan they originated in 2023, down from an...
Mortgage rates continued to soar deeper into the 7% range in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 7.17% as of April 25, up from last week when it averaged 7.10%. A year ago at this...
Two former employees of a mortgage lending company have been charged in connection with their roles in a large-scale mortgage fraud scheme. According to charges brought by the U.S. Attorney’s Office for the District of New Jersey, Christopher J. Gallo of Old Tappan,...
The Consumer Financial Protection Bureau (CFPB) is pursuing the Biden administration’s campaign against so-called junk fees by publishing an edition of Supervisory Highlights featuring what the agency described as its actions “to combat junk fees charged by mortgage...
Mortgage application activity was down last week, according to the latest data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, decreased 2.7% on a seasonally adjusted basis from one week...
Cleveland-headquartered CrossCountry Mortgage is now offering the CCM EasyGreen, a mortgage designed to enable borrowers to save money by using energy-efficient appliances and making eco-friendly improvements to their homes. According to the company, income qualified...
