Mortgage rates slide to historic lows for third time this month
The 30-year fixed-rate average, the most popular mortgage product, sank to 2.66% with an average 0.7 point, according to the latest data released Thursday by Freddie Mac.
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High court takes on Fannie Mae, Freddie Mac presidential power case
The case could mean undoing an agreement between the mortgage giants and the government that has sent about $246 billion in their profits to the Treasury. That was compensation for the taxpayer bailout they received after the 2007 housing market crash.
Study finds inequities in lending in majority-Black neighborhoods
Although redlining—discrimination in banking and lending based on someone’s race or where they live—has been illegal since the Fair Housing Act passed in 1968, analysts at Indiana University’s Public Policy Institute found that inequities in home-loan lending still exist.
City launches $11 million grant fund for hospitality industry
The program, called the Hospitality Establishment Lifeline Program, will provide grants to Marion County bars, restaurants and live entertainment venues that pay food and beverage taxes.
Housing instability could upend state’s economy
Housing advocates are warning of a tidal wave of evictions in the state this summer unless an effort is coordinated to head it off.
Homeowners stopped paying mortgages in record numbers in April
Record unemployment caused by the coronavirus pandemic led to the largest one-month increase in mortgage delinquencies ever recorded.
Record-low interest rates have sparked a refinancing free-for-all
A borrower who took out a 30-year, $200,000 mortgage in 2018 at an interest rate of 4.55% would have a monthly payment of $1,019. By refinancing into a 30-year mortgage with a 3.46% interest rate, the monthly payment would drop to $865.
Treasury unveils plan to privatize Fannie Mae, Freddie Mac
The administration’s plan calls for returning Fannie and Freddie to private ownership and reducing risk to taxpayers, while still preserving homebuyers’ access to 30-year, fixed-rate mortgages, a pillar of housing finance.
Banks fire up mortgage machines for expected refinancing boom
The mortgage industry has added almost 5,000 employees since March. It’s a stark reversal from a year ago, when the Federal Reserve was hiking interest rates and banks were cutting thousands of jobs.
Fed lifts rates for 4th time this year but sees fewer hikes
The Fed's updated forecast projects just two rate hikes next year, down from three that monetary policy body had predicted in September.
Trump considering Pence aide to run Fannie Mae/Freddie Mac
Vice President Mike Pence’s chief economist, Mark Calabria, is a leading candidate to replace Federal Housing Finance Agency Director Mel Watt, a Barack Obama appointee who has led the regulator since President Donald Trump took office.
Carmel-based Merchants Bancorp to acquire Florida-based lender
NattyMac, which was established in 2004, has a historical connection with Indianapolis and was sold to its current owner in 2017 for $211 million.
Fed likely to keep rates on hold, sketch a bright outlook
With the economy strong, wages rising and unemployment at a near-five-decade low, the Federal Reserve remains on track to keep raising interest rates — just not this week.
Wells Fargo to pay $2.1 billion for role in housing bubble
Wells Fargo is one of the last remaining big banks to settle charges related to its role in the subprime mortgage crisis.
Wells Fargo expected to be fined $1B for lending abuses
The potential $1 billion fine would be largest ever imposed by the Office of the Comptroller of the Currency, the bank's main national regulator, and the Consumer Financial Protection Bureau, the federal watchdog bureau.
Merchants Bancorp co-founder to retire amid executive shuffle
The Carmel-based financial company also announced promotions for two other top executives.
Expect two more Federal Reserve rate hikes in 2017, economists say
Though widely expected to raise rates this week, Fed policy makers are being pulled in two directions by a spirited drop in unemployment this year and a surprisingly listless reaction in wages and prices.
Michigan company wraps up $211M Stonegate Mortgage acquisition
The sale marks the end of Stonegate’s stint as an Indianapolis-based public company. A number of Stonegate executives resigned from their positions just prior to the completion of the merger.
UPDATE: Stonegate Mortgage to be acquired by Michigan firm for $211M
The deal would mark the end of Indianapolis-based Stonegate’s stint as a public company, which has largely disappointed investors since its IPO in 2013.
Lawsuit alleges bank CEO trying to drive Dallas firm out of business
A Dallas mortgage company accuses Carmel banker Michael Petrie of launching a "delberate and vindicative campaign" to try to drive it out of business. But a separate lawsuit against the Dallas firm tells a different story.