Fannie Mae‘s Home Purchase Sentiment Index (HPSI) decreased 1.9 points in December to 73.1 — a figure substantially higher than year-ago levels due to ongoing mortgage rate optimism. The index reported that consumers continue to expect mortgage rates to decline over the next 12 months. In December 2024, the share of consumers that expected mortgage…
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Amid a regulatory push ahead of the White House transition, the Consumer Financial Protection Bureau (CFPB) unveiled a new rule on Tuesday to eliminate medical debt from credit reports. The regulation is expected to raise the number of mortgage approvals by about 22,000 loans per year. The rule amends Regulation V, which enforces the Fair Credit…
South Carolina-based homebuilder Mungo Homes announced Monday that Geoff Shiley has assumed the role of CEO. Shiley succeeds longtime CEO Steven Mungo, who will move into the role of executive chairman for the company. Shiley, who has been with Mungo Homes for nearly 20 years, most recently held the titles of president and chief operations…
Multichannel mortgage lender Lower has acquired software company Neat Labs to transform its point-of-sale technology into a fully integrated application-to-funding mortgage platform, aiming to reduce reliance on third-party vendors. The stock-based deal was finalized in December, though financial details were not disclosed. “It’s very hard to build this technology from scratch,” Dan Snyder, CEO and…