Origination

The bureau’s new office of competition and innovation will promote competition, host events and seek to make it easier for consumers to switch financial providers.

Mortgage Cadence, the No. 3 loan origination system provider, believes it will pick up market share among nonbanks if the deal between the two heavyweight entities goes through.

Sales of new U.S. homes plummeted in April by the most in nearly nine years, dented by the combination of high prices and a steep climb in mortgage rates.

Yields have jumped so much this year, nearly doubling those on 10-year Treasuries, that it recalls past buying opportunities that paid off when the tide turned.

Former FHFA director Mark Calabria said the mortgage market was a “ticking time bomb” on track for a 2008-like crisis. Other experts foresee a tamer end to the bull housing market.

Federal Reserve Bank of Atlanta President Raphael Bostic said policy makers could potentially pause interest-rate increases in September after hiking by a half point at each of their next two meetings.

First quarter gain-on-sale at nine originators tracked by Keefe, Bruyette & Woods averaged 149 basis points, much higher than the 5 bps recorded for independent mortgage bankers tracked by the MBA.

The world’s richest nation is waking up to an unpleasant and unfamiliar sensation: It’s getting poorer.

The generation usually targets starter homes in these cities, which are often listed among the nation’s trendiest.

This second group of terminations will take place in June and July, according to nine separate notifications filed in California.