Treasuries resumed their rally on Tuesday as further labor-market slowdown reinforced speculation the Federal Reserve will be able to cut interest rates next year to prevent a recession. https://www.nationalmortgagenews.com/articles/treasury-frenzy-drives-10-year-yield-below-4-2
NextGenMortgage
Trade groups voice concern over reduced FHA, Ginnie Mae budgets
A proposed reduction in the amount of overall discretionary spending amounts would hamper both agencies' ability to fulfill their affordable-homeownership missions, the consortium of housing industry advocates said....
FHA finalizes new servicing incentives for reverse mortgages
The incentives are part of a broader set of Federal Housing Administration servicing changes for Home Equity Conversion Mortgages that also offers some new options for procedures. https://www.nationalmortgagenews.com/news/fha-finalizes-new-servicing-incentives-for-reverse-mortgages
LOs claim Bank of America did not pay overtime in class action suit
The former mortgage professionals say they routinely worked nights and weekends in excess of 60 hours a week. https://www.nationalmortgagenews.com/news/bank-of-america-did-not-pay-overtime-los-claim-in-class-action-suit
Social Security numbers of 14.7M customers exposed in Mr. Cooper hack
Both past and present customers were impacted by the data breach. https://www.nationalmortgagenews.com/news/social-security-numbers-of-14-7m-customers-exposed-in-mr-cooper-hack