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In the third quarter of 2024, Bank of America (BofA) saw a decline in mortgage production, despite a drop in interest rates that benefited competitors like Wells Fargo, JPMorgan Chase and Citi.  BofA announced on Tuesday that it posted $5.3 billion in first-lien mortgage volume from July to September, a 7% decline from the $5.7 billion recorded in the previous quarter and a 4% decrease compared to its $5.5 billion total in Q3 2023. In second-quarter 2024, the bank’s mortgage origination volume jumped 66%. Chief financial officer Alastair Borthwick explained that consumer banking loan growth was largely driven by credit cards,…

Cars sit in a Chevrolet dealership’s lot in Chicago on June 20, 2024.Scott Olson | Getty Images News | Getty ImagesDETROIT — A growing number of Americans with auto loans owe more than their vehicles are worth, according to a report Tuesday from Edmunds.com.The auto data and consumer research company reports the average amount owed on so-called upside-down loans climbed to an all-time high of $6,458 during the third quarter. That compares to $6,255 in the prior quarter and $5,808 a year earlier.Zoom In IconArrows pointing outwardsUpside-down car loans are not necessarily dire on their own, but a growing number…

The UN’s humanitarian office has called for an investigation into an Israeli air strike that killed 23 people in northern Lebanon on Monday.Spokesman Jeremy Laurence said the strike, on the Christian-majority village of Aitou, raised “real concerns” with respect to international humanitarian law.Laurence said that 12 women and two children were understood to be among the dead from the bombing, which destroyed a residential building that had been recently rented out to a family displaced from the south.Rescue workers were still pulling bodies from the rubble in Aitou on Tuesday – far from the focus of the conflict to date…

Generally, when Piers Morgan comments on royal matters, he takes the side of King Charles, Prince William, and Kate Middleton. So it came as a surprise when Morgan discussed Kate’s absence from royal life and shared his belief that palace officials were hiding something. Addressing the matter on his talk show Uncensored, Morgan revealed that he had heard “alarming things” about the Princess of Wales. Catherine, Princess Of Wales is seen during the opening of Evelina London’s new children’s day surgery unit on December 5, 2023 in London, England. (Photo by Ian Vogler – WPA Pool/Getty Images) He also criticized…

Mortgage credit availability decreased in September, according to the latest Mortgage Bankers Association (MBA) analysis of ICE Mortgage Technology data. The MBA’s Mortgage Credit Availability Index (MCAI) fell by 0.5% to a reading of 98.5 in September. The MCAI for conventional loans fell by 1.7%, while the corresponding index for government loans increased by 0.8%. Of the component indices of the conventional MCAI, the jumbo index decreased by 2.6% and the conforming index remained unchanged.   “Mortgage credit availability tightened slightly in September as lenders remained cautious in this uncertain economic environment,” Joel Kan, MBA’s vice president and deputy chief economist,…

My daughter was diagnosed with a rare genetic disorder.By the time she was 6, my daughter couldn’t walk independently.She will need my help throughout life, so I’m focused on keeping my body strong to be there for her. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy. You can opt-out at any time by visiting our Preferences page or by clicking “unsubscribe” at the bottom of the email. When she was 3, my daughter, JJ, was…

In an escalation of the ongoing diplomatic row between India and Canada over what the latter describes as a “campaign of violence” against Sikh separatists on Canadian soil, Ottawa expelled Indian high commissioner Sanjay Kumar Verma, alongside five other Indian diplomats on Monday. It is the latest development in a dispute initially triggered by the murder of a Sikh separatist leader, Hardeep Singh Nijjar, in Canada in June 2023. In a tit-for-tat move, India’s foreign ministry said New Delhi would expel six Canadian diplomats – including the acting high commissioner – and gave them until Saturday to leave the country.…

Stephen Richardson and Monica Davis Courtesy of Netflix Love Is Blind season 7 star Monica Davis is a Halloween meme. On Monday, October 14, Davis took to her Instagram Stories to share a mock-up for a pre-packaged Spirit Halloween costume created by the Instagram account Married Is Blind Memes. Included with the faux “MONICA LOVE IS BLIND SEASON 7” costume: A shiny, turquoise minidress. Plus, “Roses/Flowers every second of the day,” “Venmo account,” and last but not least, a “Boner deflector.”  Noted on the package: “Kate Spade bags not allowed with this costume.” While Davis, 37, shared the funny graphic…

West Palm Beach, Florida-based Onity Group has struck a deal to acquire all assets of Mortgage Asset Management (MAM), which are estimated at a net value of $55 million, the company announced on Friday. The parties entered into an agreement on Oct. 9. The deal includes Home Equity Conversion Mortgages (HECMs) and mortgage servicing rights (MSRs) with an estimated $3 billion in unpaid principal balance (UPB). The MSRs are currently subserviced by Onity subsidiary PHH Mortgage Corp.   Onity is also acquiring $20 million in cash and other related assets from MAM. Adding proceeds from future debt secured by mortgage assets,…

An icon of ASML is displayed on a smartphone, with an ASML chip visible in the background.Nurphoto | Nurphoto | Getty ImagesShares in semiconductor equipment maker ASML fell over 15% Tuesday after the Dutch company’s results were released a day early.The move pulled other chip stocks lower, with Nvidia, Advanced Micro Devices and Broadcom all falling at least 4%.ASML said it expects net sales for 2025 to come in between 30 billion euros ($32.72 billion) and 35 billion euros, at the lower half of the range it had previously provided.Net bookings for the September quarter came in at 2.6 billion euros ($2.83 billion),…