Origination

Democratic Gov. Gavin Newsom signed measures designed to bolster consumer protection rules. The bills target several issues that have also been percolating at the federal level.

The 13 largest homeowners insurance underwriters denied almost half of their climate-related claims last year, adding to property owner and mortgage servicer woes.

New single-family home sales decreased 4.7% last month to an annualized rate of 716,000 after rising at the fastest pace since early 2022, government data showed Wednesday.

"A slight upward turn reflects a modest improvement in housing affordability, primarily because mortgage rates descended to 6.5% in August," NAR Chief Economist Lawrence Yun said in a prepared statement.

Affordability improved for a fourth straight month, but questions remain about whether recent trends will bring a significant number of buyers into the housing market.

Mortgage bankers feared a proposal related to lenders' access to a major secondary market and related reporting was too harsh. They're eyeing a redraft closely.

Mortgage rates being at a two-year low has not moved potential buyers off the sidelines, Freddie Mac says, but Redfin says demand for home tours is up.

CV3 Financial Services, started by long-time business purpose lending executive William Tessar, just celebrated one year in business and topping the $1 billion mark.

The program lapsing would've precluded mortgage applicants from closing on home loans without the required coverage in federally designated flood zones.

The state, with the support of its Realtors, will be mandating that real estate salespeople have a contract with the home seekers they are representing.