Origination

The shift in short-term interest rate markets Monday was unlike almost anything seen for more than four decades, including even the 2008 financial crisis and the aftermath of the Sept. 11 terror attacks. 

Inflation is the top factor in Chairman Jerome Powell's point of view and that will likely determine if there is no increase or a 25 basis point hike, mortgage industry economists said.

Policies were introduced to provide greater consumer protections, but the bureau specifically noted within its announcement questions it had received regarding payment adjustments in response to competitive pressure or following an originator error

Rates on the 30-year fixed rate mortgage rose during the month, but purchase borrowers using jumbo loans drove activity higher compared with January, Black Knight said.

Having lived through past downturns allows experienced leaders to keep employee engagement high as the mortgage business faces its first rough cycle in over a decade.

Three years after many employees left the office, no standard remote employment rule has stuck.

This could first be claimed by homeowners on their taxes in 2007, but it was never made permanent by Congress and expired after tax year 2021.

Meanwhile, pending home sales are down 16.1% compared to the same time last year but demand is still up from its late-October lull, according to Redfin.

Despite ending 2022 in the red, the lender and servicer saw full-year profits exceed 2021's total.

More than half of pandemic gains have been erased, but how the mix of stronger than expected overall employment and other developments will affect rates remains uncertain.