Origination

On the other hand, the economists from the UCLA Anderson Forecast claim the U.S. is not currently in a recession and that the chance of a recession in the next 12 months is less than 50%.

The average purchase loan amount rose as a brief increase in demand for government-sponsored loan programs cooled.

The former head of the agency said a decision last year to suspend caps on investor loans has further induced demand in an already hot market. Other experts say a supply-demand imbalance is the true driving force.

Sales of previously owned U.S. homes fell for the seventh straight month in August as rising mortgage rates continued to erode affordability and deal a considerable blow to the housing market. 

However, a lower share of applications were rejected for Blacks, Hispanics and Asians, while whites had the smallest percentage change, a Consumer Financial Protection Bureau report said.

Banks including Wells Fargo, Bank of America and JPMorgan Chase have pulled back on financing for offices and other commercial real estate following a record burst of lending in the first half of this year. 

The Cincinnati bank's new division will lend to nonbanks that make or bundle together residential mortgage loans, whose businesses have slowed as higher interest rates lower appetite for refinancing. The warehouse sector has seen "fierce competition" among banks lately, one analyst wrote.

While several single-family indicators rose compared with July, homebuilder authorizations for new construction continued to lag.

Because the co-buyers own 100% of the property jointly, Pairadime is different than equity sharing firms like EquiFi, Hometap and Unison, which take a stake in the property in exchange for funds.

Plaintiffs in two similar class action complaints accuse the companies of failing to protect their Social Security numbers and loan information.