Origination

But overall availability still remained near a 10-year low in March, with government-backed products falling for the third time in four months, the Mortgage Bankers Association found.

But the deal propels the four-year old buyer of its wholesale origination operation, The Loan Store, into the national spotlight.

Last month saw purchase rate locks increase by 44%, jumping past the 30% average in February, according to Black Knight's report.

But profits more than doubled on the servicing side, according to the Mortgage Bankers Association.

The president of originations at the public company, Phil Shoemaker, will take over as CEO of the acquiring firm.

Affordability constraints have made borrowers who bought properties within the last 12 months increasingly vulnerable to price declines.

The change may decrease the amount of time that a servicer is required to hold a loan on their balance sheet.

A Connecticut Superior Court Judge has reviewed a long-running legal dispute that could define the role loan officers in direct mortgage operations play in originations.

The agency said it will include home valuation practices in its fair lending review. It's the latest effort by a Washington regulator to root out discriminatory practices in the profession.

With few clues coming from Federal Reserve officials about their next moves, the 30-year average dropped for a fourth straight week, according to Freddie Mac's latest survey.