National Mortgage News

National Mortgage News takes a look at a sextet of legal cases that spanned 2024, which will still be affecting the mortgage industry in 2025.

“[FHA’s handbooks] use of permissive language thus provides mortgagees with an option instead of an obligation to use HAF funds in connection with SPCs,” wrote Judge Gallagher, who dismissed the suit against Mr. Cooper with prejudice.

More consumers however are opting for professional jobs, which cost three times as much as average do-it-yourself projects, according to NerdWallet.

"This quarter's rise in critical defects signals that lenders need to double down on quality control efforts, especially as volumes grow," said Nick Volpe of ACES Quality Management.

PNC saw the largest increase in wholesale origination volume between Q2 and Q3, with an increase of 255.65%. Check out the rankings to see the performance and growth of the top 20 lenders. #lending #mortgages

"In spite of the recent dip in purchase and refinance activity, we see the year-over-year improvements in purchase volume, cash-out and rate-and-term refinances as a bright spot," said Brennan O'Connell of Optimal Blue.

"We don't get our pricing from FICO. We do not pay FICO. We pay the repositories," National Consumer Reporting Association President Heather Russell-Schroeder said.

Should the shutdown go on long enough, it's possible that the Federal Emergency Management Agency would eventually run out of money to cover losses due to floods.

The driver for a relocation is to be close to friends and family, as homebuyers in 2024 want to be in areas where their support system is around them, said the National Association of REALTORS®' Jessica Lautz.

“Short-sale mortgage fraud not only harms lending intuitions, it also depresses real estate values throughout our neighborhoods and prevents community members from gaining fair access to housing,” said Breon Peace, United States Attorney for the Eastern District of New York.