"We wanted to help a larger swath of borrowers attain the American dream"
Cuts were necessary to keep its mortgage product competitive, the company said
Mortgage rates increase for the ninth straight week
The rule gives servicers more latitude in providing information to borrowers
Critics say the change in language signals a move away from HUD’s primary mission – but HUD officials insist it simply reflects Secretary Ben Carson’s commitment to helping disadvantaged people gain self-sufficiency
The share of conventional loans was at its highest level in two years
The volume share of refinance applications remained unchanged
Parkes Dibble will lead efforts to transform the company’s retail lending products