The CPI report has paved a path for a rate cut

Wednesday’s Consumer Price Index (CPI) inflation report for July came in as expected — and it gives a clear pathway for the Federal Reserve to cut benchmark rates for the first time since starting its aggressive rate-hike cycle in early 2022. The history of global pandemics shows inflation rising at

Swiss bank UBS closes deal to sell U.S. servicer

Executives at Swiss bank UBS said on Wednesday that they’ve struck a deal to sell Credit Suisse’s U.S. servicing business. They did not provide information related to the buyers’ names or the financial details. In the U.S., Credit Suisse owns Select Portfolio Servicing (SPS). According to Inside Mor

Signs point to an extended decline in mortgage rates

Mortgage rates continued to recede during the past week, with the market anticipating a Federal Reserve rate cut next month and the U.S. economy showing signs of weakening. At HousingWire‘s Mortgage Rates Center, the 30-year conforming loan rate averaged 6.66% on Wednesday. That was 11 basis points

FHA proposal would modernize communications with defaulted borrowers

The Federal Housing Administration (FHA) on Wednesday published a new proposed Mortgagee Letter (ML) that offers an early look at policies designed to expand contact options with mortgage borrowers who are in default. Published on FHA’s Single Family Drafting Table — an online portal where proposed