Origination

Close to 60,000 home-purchase agreements were canceled in September

A Wisconsin taxpayers group asked the U.S. Supreme Court to block President Biden's student-loan relief plan from taking effect, accusing him of usurping the power of Congress and costing taxpayers potentially more than $1 trillion.

Approximately two years after Fannie Mae and Freddie Mac stopped accepting the troubled index, the government agency is looking to approve the Structured Overnight Financing Rate for adjustable rate mortgages.

Higher interest rates are driving borrowers to adjustable-rate loans, which saw close to a 13% share in weekly activity, the highest since 2008.

New U.S. home construction declined in September and permit applications for single-family dwellings fell, adding to evidence that the highest mortgage rates in two decades are sapping demand and discouraging new builds.

The new product will be based on a recent revision to the Department of Veterans Affairs' handbook for lenders, according to the company.

The Federal Housing Finance Agency's tangible capital rule could prevent some banks from accessing advances from the Federal Home Loan Bank system in a rising interest rate environment.

As higher mortgage rates bite harder, the number of metro Atlanta home sales in September fell and the selling prices stopped rising.

The agency is currently using upper ceilings set in the Housing and Economic Recovery Act of 2008.

Urban Institute research backed by the Federal Home Loan Bank of San Francisco suggests using rent and utility reporting for this purpose is complicated but has a net benefit.