LOAN PRODUCTS

Bill Pulte's X post has the industry excited that loan level price adjustments could change, but the impact would not be as beneficial as some think, KBW said.

While purchase volume is up 20% from last year, it was 5% lower than one week ago, although a 4% increase in refinance activity helped pick up the slack.

The NRMLA/Riskspan Reverse Mortgage Market Index set a new high of 502.42, with the dollar amount of home equity for those 62 or over reaching $14.4 trillion.

The lender, which reported over $200 million in home equity line of credit volume in the recent quarter, suggests the business can deliver massive scale.

The rollout comes as the company looks to build out offerings for originators, launching after PHH returned to the proprietary reverse-mortgage arena this year.

The appointment of the mortgage veteran comes as the lender undergoes marketing and branding pivots, including its recent name change from Nexa Mortgage.

While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said.

The new platform already counts two businesses as embedded partners, with the rollout coming as mortgage leaders see rising demand coming for DSCR loans.

Rate-and-term transactions leaped by 154% from August to September, while cash-outs and purchase loans also increased, according to Optimal Blue.

Growth in multifamily and investment property mortgage originations, the highest risk segments, drove the 6% rise in the National Fraud Index, Cotality said.