Origination

Banking and credit union regulators encouraged compassionate treatment of customers in Hawaii communities hit by wildfires. They also vowed to grant expedited approvals of temporary banking facilities, be flexible in compliance matters and provide other support to financial institutions.

Lenders reported a net loss of $534 on each loan they originated in the last quarter, an improvement from the $1,972 loss per loan the quarter prior.

The average for a 30-year home loan marked the fourth straight week of increases, according to Freddie Mac.

Both Keefe, Bruyette & Woods and BTIG believe the transaction — key to spinout of the mortgage business — will be completed despite the opposition of Sculptor founder Dan Och.

Federal Reserve officials are more seriously discussing the possibility that they may not have to stop shrinking their massive balance sheet when they begin cutting interest rates, a readout from their most recent policy meeting showed. 

The Federal Housing Finance Agency is adding advanced models that include rental payment histories and trended data, but others tap cell phone or consumer-permissioned bank data.

Sen. Robert Peters, D-South Shore and Rep. Debbie Meyers-Martin, D-Matteson will spearhead the endeavor.

Lenders appear to be loosening underwriting a little and the construction industry may be on track to lower new home prices by 10%-15% this year.

But overall volume is still expected to be 38% lower than 2022's commercial real estate originations, as higher interest rates remain a drag.

But a surge of the 30-year conforming rate to a high last seen in 2001 helped drive overall borrowing lower, even as buyer interest in government-backed products grew, the Mortgage Bankers Association said.