Origination

US new-home construction unexpectedly fell in November as a drop in multifamily projects mitigated a rebound in starts of single-family houses, solely in the storm-ravaged South.  

Monetary policy officials greenlighted a 25 basis-point federal funds cut but mixed economic signals dimmed hopes for more affordable home financing costs.

Premium volume increased by 5.3% year-over-year, while operating income was up, but industry expenses also rose in the third quarter, the American Land Title Association said.

Purchase activity was buoyed last week by conventional and Department of Veterans Affairs-backed loan activity.

Depending on how far rates fall, loan officers could be on the hook for a significant part of their compensation if borrowers refinance in an expedited period.

Six years after Pres. Trump signed Dodd-Frank reform, the Consumer Financial Protection Bureau issued rules bringing these loans under Truth-in-Lending.

Nonagency issuances are expected to increase 85% for this year over 2023, and rise another 36% in 2025, the second best since the financial crisis.

The sales pace of new constructions in November was the third highest this year, according to the Mortgage Bankers Association.

The Texas Department of Savings and Mortgage Lending is requiring loan officers to notify borrowers if their contact information was obtained through trigger leads.

The bank ends the year with a substantially different profile from early 2024, which brought new leadership, a significant reduction to its mortgage operations and a corporate rebrand.