Mortgage Industry News
CFPB Launches Public Inquiry into Mortgage Closing ‘Junk Fees’
CFPB Director Rohit Chopra opined, “Junk fees and excessive closing costs can drain down payments and push up monthly mortgage costs.” Continue Reading CFPB Launches Public Inquiry into Mortgage Closing ‘Junk Fees’
Mortgage Rates Back Above 7%
A year ago at this time, the 30-year fixed-rate mortgage averaged 6.79%. Continue Reading Mortgage Rates Back Above 7%
Mortgage Application Activity Takes A Dive
“The ARM share of applications rose slightly to 7%, the highest since April 2023,” said MBA’s Joel Kan. Continue Reading Mortgage Application Activity Takes A Dive
July New Home Purchase Mortgage Applications Up 35.5%
Mortgage applications for new home purchases in July increased by 35.5% year-over-year, according to new data from the Mortgage Bankers Association (MBA). Compared to June, applications inched up by 0.2%. MBA estimated new single-family home sales were running at a...
UBS in $1.4 Billion Settlement Over RMBS Fraud Charges
“With this resolution, UBS will pay for its conduct related to its underwriting and issuance of residential mortgage-backed securities,” said U.S. Attorney Breaon Peace. Continue Reading UBS in $1.4 Billion Settlement Over RMBS Fraud Charges
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