Mortgage rates fall to lowest level since 2022
Average rate on the benchmark 30-year fixed mortgage fell to 6.01%, Freddie Mac says. "This lower rate environment is not only improving affordability for prospective homebuyers, it's also strengthening the financial position of homeowners," said Sam Khater, Freddie Mac's chief economist. "Over the past year, refinance application activity has more than doubled, enabling many recent buyers to reduce their annual mortgage payments by thousands of dollars."
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Court upholds FinCEN's anti-money laundering rule for home sales
A U.S. District Court judge in Jacksonville, Fla., announced her decision to uphold FINCEN's anti-money laundering rule for homes sales and instructed the clerk to terminate all pending motions and close the case.
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Court says borrowers can't void mortgage after acquiring proper title
Borrowers who promise they own a property cannot back out of their mortgage just because their original title was defective, a New York court ruled. The Appellate Division, Second Department delivered the decision on February 18, reinforcing what many in the mortgage industry have long hoped: warranties in mortgage documents actually mean something.
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Lender sues First American Title for allegedly ignoring accepted claims
A Texas lending fund is taking First American Title to court, alleging the title insurance giant acknowledged coverage on claims - then did nothing about them. Wildcat Lending Fund One, LP filed suit against First American Title Insurance Company and First American Title Guaranty Company on February 18, 2026, in the US District Court for the Eastern District of Texas. The case centers on three loan title insurance policies covering properties in Harris County, Texas, and what Wildcat describes as a prolonged failure to act on accepted claims.
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Court blocks Cardinal Financial's $510k claim over title insurance fraud exclusions
Fraud exclusions in Closing Protection Letters can leave lenders holding major losses, a North Carolina court ruled in a $510,000 identity theft case. The case out of North Carolina should make every mortgage professional take a closer look at what those Closing Protection Letters actually cover when things go sideways.
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