Independent mortgage banks (IMBs) delivered a pretax net production profit of $950 per loan in the second quarter of 2025, rebounding from a $28 loss in the prior quarter. The improvement was fueled by seasonality, cost reductions and higher average loan balances. The data, released on Tuesday, comes from the Mortgage Bankers Association report covering […]
IMBs swing back to profitability in Q2 with $950 per-loan gain Read More »
Mortgage rates are based on bonds and bonds, and bonds have some seasonality to them. This doesn’t necessarily mean there’s a reliable seasonal pattern for the direction of rate movement. Rather, it means that several weeks in August tend to be fairly forgettable in terms of excitement, volatility, and methodical movement. The 2 most recent
Mortgage Rates Little Changed From Monday Read More »
Housing starts in the US climbed in July to five-month high, led by the strongest pace of multifamily construction in more than two years. New residential construction increased 5.2% last month to an annualized rate of 1.43 million homes, according to government figures released Tuesday. That was above all forecasts in a Bloomberg survey of
Housing starts rise to five-month high, led by multifamily Read More »
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 »