Origination

Michigan State University Federal Credit Union will open five branches in the Windy City to serve the more than 10,000 members and potential members living there. This marks the first time that the institution has expanded beyond its home state.

Rising interest rates during June worked to hold potential new homebuyers out of the market, the Mortgage Bankers Association's Builder Application Survey found.

As affordability worsened for prospective buyers, owners saw their first quarterly rise in proceeds in almost a year.

Contract closings declined 3.3% to a 4.16 million annualized pace, roughly in line with economists' forecasts, National Association of Realtors data showed Thursday.

The proposed legislation would automate access to information and require faster responses to requests for title status that have been a longstanding concern.

The company continues to retrench and refocus as it looks to become profitable from its original aims after it first became public in July 2021.

The 30-year fixed, which was threatening going above 7% again according to Freddie Mac data, was 18 basis points lower this week.

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Several community banks noted an uptick in problem loans in second-quarter earnings reports. Small lenders should brace for more of this, industry observers noted.