CFPB orders NewDay USA to pay $2.25M for providing misleading costs on 3,000 V.A. cash-out refis

Florida-based V.A.-focused mortgage lender NewDay USA has reached an agreement with the Consumer Financial Protection Bureau (CFPB) over allegations that it provided misleading and incomplete cost comparisons to borrowers seeking cash-out refinance loans, the parties announced on Thursday. The deal,

AI Demo Day: Optimal Blue’s CompassEdge

CompassEdge Optimal Blue’s CompassEdge hedging and loan trading platform helps lenders maximize profitability with unmatched pipeline risk management tools, and dynamic loan sale and MSR valuation functionality. Attendees will experience new AI-powered assistants in CompassEdge that help lenders red

Pending home sales tank in July, but the slump is likely short lived

Mortgage rates are finally dropping, but pending home sales fell even further into the toilet in July. That’s according to the July pending home sales index from the National Association of Realtors. On an annual basis, the index fell by 8.5% to the second lowest seasonally adjusted rate in the data

Harris makes housing affordability a key campaign issue

Vice President Kamala Harris, now officially the Democratic Party nominee for the President of the United States, is hitting the campaign trail with housing affordability as a central theme. “There’s a serious housing shortage,” Harris said at an event in battleground state of North Carolina, accord