Origination

Purchases of new single-family homes increased 4.1% to an annualized 683,000 pace last month from a downwardly revised 656,000 rate in March, government data showed Tuesday.

Some stakeholders have worried about the estimated date for the transition to a new way of calculating credit worthiness, but an official assured attendees at an industry conference that the agency won't act prematurely.

Starting June 7, the enterprise's platform will be able to analyze pay stub information.

But the country is still likely heading towards a recession and it could be deeper than previously thought, Mortgage Bankers Association Chief Economist Mike Fratantoni said.

The company's recent expansion into commercial servicing is part of a broader effort to build a diversified business model, according to President and CEO Mike Dubeck.

The Mortgage Bankers Association sees the likelihood of a rise in sales activity later this year based on recent construction trends, in a turnaround from the 2022 market.

Artificial intelligence can help cut bias out of credit models. The Consumer Financial Protection Bureau should make it easier for lenders to adopt it.

The government-sponsored enterprise only tweaked the two-year mortgage origination forecast, with a $6 billion reduction for 2023, but an increase of $7 billion for 2024.

Widespread efforts to save money couldn't entirely counteract the impact of continually rising commissions, compensation and other costs.

Jobs numbers, inflation data and the continued debate over raising the debt ceiling are factors applying upward pressure.