Lifting of the asset cap could give the bank greater leeway to originate jumbo mortgages that exceed Fannie Mae and Freddie Mac’s $806,500 conforming loan limit in most markets
Under new leadership, OCC settles actions against 2 executives tied to 2016 scandal for $150K and won't say if it will defend court challenge of $10M fine in a 3rd case
Cutting the mortgage giants' $806.5K conforming loan limit could relieve pressure on home prices, but leave more homebuyers seeking jumbo mortgages at higher rates from private lenders
Getting out from under $1.95T cap would allow bank to grow its deposit base, providing more room on the balance sheet to originate jumbo mortgages too big for Fannie and Freddie
Once the nation's largest home lender, Wells Fargo could be poised for a comeback in mortgage this year as it continues to make progress addressing regulators' concerns about past practices
CrossCountry Mortgage joins Rocket, Pennymac, UWM and Rate in raising conforming loan limit above current $766,550 cap for Fannie Mae and Freddie Mac ahead of an official announcement
With prices rising, it's becoming standard operating procedure for big lenders like Rocket to help homebuyers avoid jumbo loan pricing by getting a jump on FHFA's official announcement
Rocket will treat loans of up to $802,650 as conforming ahead of expected increase. Last year UWM and Rate also got a jump on the official announcement by Fannie and Freddie's regulator
Fed policymakers are acknowledging that while they're determined not to cut rates until inflation is tamed, they're also worried about waiting too long and throwing the economy into a tailspin
One issue for would-be homebuyers seeking jumbo mortgages is that rates haven't come down as dramatically as they have for conforming mortgages eligible for purchase by Fannie and Freddie
Wall Street investors believe promises made by new leadership of New York Community Bancorp, but concerns about the impact of interest rates and commercial lending on regional banks remain
MBA surveys show purchase loan applications have been flat for 2 consecutive weeks, and now mortgage rates are popping again as more worrisome inflation data rolls in
After 2 consecutive weeks of rising demand, applications for purchase mortgages dropped last week by a seasonally adjusted 1% from the week before, and by 14% from a year ago: MBA survey
Purchase loan applications jump by a seasonally adjusted 11% after 5 consecutive weeks of declines as mortgage rates continue to retreat from 2024 highs
Worries about commercial real estate are making jumbo mortgages costlier, since regional banks are a major provider of loans that are too big for Fannie Mae and Freddie Mac