The Mortgage Bankers Association was not immune from the cyclical nature of residential lending in 2024. Then again, its financial results could have been a lot worse.

Purchase-mortgage lending outpaced refinance business in the second quarter. But purchase-mortgage volume barely budged compared with the first half of 2024 while refi production was up 66.1%. (Includes four data tables.)

Figure Technology Solutions has flourished with HELOCs by developing new technology. Now the company is aiming to complete an initial public offering to expand into other markets.

Fannie Mae economists slightly increased their mortgage rate projections for the remainder of the year despite widespread expectations that the Federal Reserve will cut the federal funds rate in September.

The warehouse lending business remains profitable but there are concerns, namely a reduction in the number of nonbank mortgage companies due to M&As.

Special attorney at DOJ to examine allegations of mortgage fraud; Trump nominates chairman of Council of Economic Advisors for position at Fed; impact of slowdown in home price appreciation.

FICO CEO William Lansing argued that, by allowing lenders to pick between Classic FICO and VantageScore 4.0, FHFA may be creating a race to the bottom when it comes to the quality of credit scores.

Leaders at big lenders believe the spring homebuying season will continue through the summer, thanks to the shift to a buyers’ market. Real estate companies are less optimistic, citing “punishing” interest rates.

Acra, a top player in the non-qualified mortgage market, has a new CEO, Shawn Stone.

Mortgage hiring moved forward in June but not by much amid uncertainty on the outlook for interest rates.