Home price modeling changes hurt FOA’s third-quarter interim results but it was in the black between January and September on a continuing operations basis.

While FHFA reduced most of the single-family low-income goals, the MBA wants the refinance target for Fannie Mae and Freddie Mac cut as well, its letter said.

The latest case comes after at least three other zombie lawsuits in the past year, with the owner of the loan in question claiming $173,000 in past-due interest.

Newer automation that can serve as a wraparound to existing technology can cut servicing costs in a competitive industry, according to fintech executives.

The age at which people purchase their first home has climbed rapidly since 2021, when the median was 33, according to a National Association of Realtors survey of transactions from July 2024 through June.

Wednesday More Likely to Take Cues From Econ Data

Bonds benefited from heavy stock selling late in the overnight session. This is not the typical pattern seen these days, but it’s not uncommon to see some positive spillover into bonds when stock losses are sharp enough. In any event, it’s not something to count on when it comes to tomorrow’s motivations. For that, we actually have economic data for a change. In the absence of government agency data, if we had to pick 2 reports to carry the torch, they would be ADP employment and ISM Services PMI. Tomorrow brings us both releases and, thus, a strong chance to see data-driven volatility. 

Market Movement Recap

09:15 AM modestly stronger overnight and holding gains so far.  MBS up 2 ticks (.06) and 10yr down 1.4bps at 4.095

01:39 PM Sideways near best levels. MBS up an eighth and 10yr down 2.6bps at 4.083

04:48 PM Heading out at best levels.  MBS up 5 ticks (.16) and 10yr down 2.5bps at 4.084

The inspector general’s office, responsible for overseeing the regulator, now sits vacant amid Director Bill Pulte’s swift changes and numerous fraud probes.

The agreement, if approved by a federal judge, would end litigation over two distinct cybersecurity incidents in 2021 which affected over 2 million customers.

The Consumer Financial Protection Bureau has seen a rapid drop in the effectiveness of its cybersecurity program, according to a new report from the Fed’s Office of Inspector General.

Now that quantitative tightening is ending, the debate on who should be the MBS buyer of last resort, Fannie Mae and Freddie Mac, or the Fed, is taking hold