Origination

SecurityNational Mortgage Co. alleges that the larger competitor facilitated the mass resignation of its staff from Glendale and Scottsdale offices.

The bank's marketing, which hid the nature of its solicitations, led some borrowers to apply for cash-out refis that increased monthly payments, the OCC said.

While last year was the best for origination income since 2022, annual net servicing revenue for mortgage bankers was approximately 70% below 2024's level.

Three-quarters of buyers assume AI has already been embedded in the housing ecosystem, but 55% would prefer to work with a human to secure a mortgage.

This week's Freddie Mac mortgage rate survey shows rates at the lowest in four weeks, but homebuyers are giving mixed signals even with improved purchase power.

Marketing services firm LeadPoint said it thought it had gained compliance after Connecticut officials issued a prior consent order and penalty in 2020.

FundingShield's latest report notes the improvement in remediation efforts among lenders, but closing protection lenders remain a key source of file problems.

The war in the Middle East is adding to a slew of challenges already facing the construction industry in recent years, including elevated mortgage rates, labor constraints and higher prices for materials.

The US has a shortage of at least 10 million single-family homes, according to a new report from White House economists — a higher figure than some previous estimates from the government and the private sector.  

Both Chase and Wells Fargo had a 15% reduction quarter-to-quarter in mortgage originations, more than the industry forecast for a 6% drop-off, Keefe, Bruyette & Woods noted.