Home Depot Inc. sales returned to growth in the second quarter as shoppers invested in smaller projects, such as lighting and gardening. The world’s largest home-improvement retailer said comparable sales grew 1% in the quarter, modestly below what analysts had estimated but an improvement from a 3.3% slump a year ago. “These may be shallow […]
Home Depot sales gain as shoppers opt for smaller projects Read More »
Fannie Mae’s August mortgage origination forecast predicts lower volume in 2025 and 2026 compared with July as the government-sponsored enterprise moved its rate expectations higher. It now expects total home sales to decline year-over-year. Fannie Mae is still looking for existing home sales to rise, but not by as much previously expected. The drop off
Fannie Mae cuts outlook for 2025–26 home sales Read More »
The Federal Reserve’s top banking regulator is promoting a pro-technology approach, urging a shift away from what she called “an overly cautious mindset” toward banks adopting innovative tools such as blockchain and artificial intelligence. In a speech Tuesday, Federal Reserve Vice Chair for Supervision Michelle Bowman said regulators must understand new products and services used
Fed’s Bowman: Banks, regulators must embrace emerging tech Read More »
Sen. Tim Scott, R-S.C.Bloomberg News WASHINGTON — Senate Banking Committee Chairman Tim Scott, R-S.C. publicly acknowledged the role that the crypto industry had in unseating former chairman Sherrod Brown, a longtime banking progressive, from the Senate. Scott’s comments, made at the Wyoming Blockchain Symposium just ahead of the Federal Reserve’s Jackson Hole Summit, were a
Sen. Scott thanks crypto industry for unseating Sherrod Brown Read More »
Increasing loan balances, reduced head count and higher seasonal volume led nonbanks to report the highest loan production profits in years last quarter, according to the Mortgage Bankers Association. The pre-tax net production profit of $950 per originated reversed a two-quarter slide into the red, with improvement surging from a loss of $28 per transaction
Cost cutting helps drive IMBs to best numbers since 2021 Read More »
Lenders, homeowners and servicers are facing a massive wildfire risk in the Western U.S. that extends beyond the initial burn. Insurance woes, inflationary pressures and contractor shortages are weighing on affected mortgage holders, according to Cotality’s 2025 Wildfire Risk Report. The assessment found nearly 2.6 million homes at moderate or greater risk of wildfire damage
How big is the wildfire risk in the Western housing market? Read More »
Blockchain-based credit company Figure Technology Solutions Inc. filed publicly for an initial public offering, joining the rush of crypto-related firms entering the market. The New York City-based company had net income of $29.1 million on revenue of $190.6 million for the six months ending June 30, compared with a net loss of $15.6 million on
Figure files publicly for IPO Read More »
With all eyes now firmly focused on the second half of 2025, mortgage servicers throughout the U.S. face an important period for property tax management. More than 60% of all property tax bills are due between July and December, making the second half of the year extremely critical for the mortgage industry. Data from FRED
Common pitfalls: Where mortgage servicers often stumble in the second half Read More »
A pool of private student loans, provided to borrowers through the Iowa Student Loan Liquidity Corp., will secure $160.9 million in revenue bonds through series 2025A and 2025B. All the senior notes are fixed, according to S&P Global Markets, with the two, taxable series A notes maturing on Dec. 1, 2035 and Dec. 1, 2045.
Private Iowa student loans back $160.9 million Read More »
Consumer demand for reverse mortgage products is expected to rise as the population ages more quickly. According to estimates from Business Research Insights, the global market is currently valued at $2 billion and could reach $3.2 billion by 2033. More business is likely to push reverse mortgage companies to grow their employee headcounts. But like
As reverse mortgage demand grows, lenders may need more personnel Read More »