Origination

The pending budget reconciliation legislation should retain measures meant to support minority homebuyers writes the President of the National Association Of Real Estate Brokers.

But purchase activity reflected “resilient” consumer demand during the month, and first-time homebuyer loans gained market share, according to Black Knight.

The complaint claims outgoing staff downloaded information regarding a combined thousands of loans to their personal emails before departing for CrossCountry Mortgage.

A larger share felt it was a bad time for both buying and selling, but a growing number expect price growth to slow.

Fraud experts are concerned that credit washing, in which borrowers make false claims about being victims of identity theft, is making its way into mortgages from other forms of lending.

The Consumer Financial Protection Bureau filed more actions against redlining and discriminatory practices in 2021 and is skeptical that that predictive analytics will reduce bias.

It will soon become mandatory to give consumers, nonprofits and governmental entities first crack at homes sold through the claims without conveyance of title process for 30 days.

But company officials warned slimmer margins and a slowing market would lead to staff reductions.

The March estimates for payrolls of nonbanks involved in home lending confirm widespread anecdotal reports of industry layoffs, but strength in broader financial-services hiring could pick up the slack.

The servicing segment's pretax income was almost 80% higher than the fourth quarter, offsetting a more than 90% decline for the production business.