Mortgage rates may be based directly on the bond market, but the two don’t always move in perfect lock-step. Today was a good example of that. Bonds improved enough for rates to move modestly lower according to typical correlation. Instead, the average mortgage lender improved by the smallest possible amount that we register on our […]
Rates Hold Mostly Steady Despite Bond Market Improvement Read More »
Key insight: The housing package includes a custodial deposit bill that some experts say could make bank-fintech partnerships cheaper. Forward look: President Donald Trump is expected to sign the bill into law. Expert quote: “It seems when it comes to community banks, the biggest usage of custodial deposits — or at least the most profitable
How the housing bill quietly helps out fintech, crypto Read More »
Pennymac is closing its Franklin, Tennessee, branch and laying off staff within its consumer direct lending operations as a result of macroeconomic conditions, the lender confirmed Tuesday. Processing Content “Given the current market environment and following a careful review of our staffing needs, Pennymac has made the difficult decision to close its Franklin, Tennessee, site
Pennymac closes Tennessee branch, lays off loan officers Read More »