Origination

Homebuyers in Colorado, Florida and Texas can apply for a minimum $1 million loan with the company.

Rising vacancy levels, soaring interest rates and weaknesses exposed by recent bank failures have analysts and investors worried about banks' outsized exposure to high-rise office, apartment and retail properties.

The agency added increased emphasis on loss mitigation and special purpose credit programs following heightened calls for more participation in the latter from a minority trade group.

Per the settlement, the board of directors will expand its headcount to nine, opening the door to include Steve Ozonian, CEO of Williston Financial Group.

The falloff in government-backed applications outpaced the overall decline, with volume down by over 8%, the Mortgage Bankers Association said.

But attorneys for the small Chicago-based mortgage company remained defiant and actually welcomed the Bureau's move.

While they see a meager gain of just 1.2% in 2024, the recovery will pick up steam in the following three years, when prices are forecast to increase 4% annually, a Pulsenomics survey found.

But a monthly increase in housing costs nationwide to start 2023 may point to a bottoming out of prices in many areas, CoreLogic said.

The portfolio includes mainly commercial real estate loans, commercial loans and a small pool of single–family residential loans.

The state will introduce new rules in 2024, while North Carolina and Delaware have similar legislation coming into effect this summer.