J-T Gaietto, chief operating officer at ConvergentDS, a firm that helps assess cyber risks, said obtaining cybersecurity insurance “isn’t the easiest thing to accomplish.”
Total 1-4 family mortgage servicing outstanding hit a record $14.027 trillion at the end of March. Nonbanks handled 50.2% of the total, compared to 49.6% as of the end of 2023.
Hometap started offering HEIs in 2018 and has originated 11,373 HEI contracts across 18 states with an aggregate investment amount of more than $1.1 billion, according to Morningstar.
“There have been just two months in the past decade with fewer home sales [than in May 2024]: October 2023, when mortgage rates jumped to a 23-year high, and May 2020, when the onset of the pandemic brought the housing market to a halt and home sales to a record low,” Redfin said.
Retail originations by banks and thrifts typically decline on a quarterly basis in the first quarter of a year, a trend that continued in 2024. However, retail lending was up compared with the first quarter of 2023. (Includes two data tables.)
The MBA and California MBA are warning of a “crisis” in California involving property insurance as insurance options decline and premiums increase. A Senate committee also examined property insurance issues, with reactions differing based on party lines.
FHFA’s home price index cools off; MBA’s outlook for interest rates unchanged; Treasury looking into AI use in financial services; trade groups request delay on implementation of overtime rule.
Close to half of the prime non-agency MBS volume in the market since early May has been in GSE-eligible mortgages. Rocket Mortgage is the latest issuer with a GSE-eligible offering, including a number of loans with eNotes.