Origination

The CFPB is requesting input on adding specifications that are intended to alleviate TRID compliance concerns on construction-to-permanent single-close loans and those requiring separate construction and home loan closings.

Brett Dillenberg oversees six branches previously under the umbrella of LendUS that were acquired by the Ohio-based lender last year.

Current forbearance volumes have returned to pre-COVID levels among loans held at Fannie Mae and Freddie Mac, a Fed study found.

"The committee is strongly committed to returning inflation to its 2% objective," the Fed said in its semi-annual report to Congress released Friday.

In the four weeks through Feb. 26, the median price for a typical home was $350,246, down 0.6% from the same period a year earlier, the brokerage said Thursday.

The Federal Housing Finance Agency head has said: "The status quo is not acceptable." She could not be more correct.

The proposal is out for comment through May 1, and the initial mortgage lender reaction is that the measure could be helpful with remote work and budgeting.

Purchase and refinance mortgages continued their slide as total origination volume was $475.5 billion during the final months of 2022, down 56% from the end of 2021.

The increase reflects the rise in the 10-year Treasury yield, which is back above 4% for the first time since that month.