Origination

The Consumer Financial Protection Bureau is examining whether artificial intelligence discriminates against minorities and other applicants. But GreenState Credit Union in Iowa says the technology can be harnessed to make lending fairer in underserved communities.

This part of the city's market is still struggling to recover from the pandemic, lagging the frenzied overall housing market in speed and price appreciation.

Sales of previously owned U.S. homes fell in March to the lowest since June 2020 as historically low inventory paired with rising mortgage rates curbed purchases.

Moving towards bank-like capital standards for all independent mortgage banks that sell loans to Fannie Mae and Freddie Mac could limit consumer access to mortgage credit, writes Community Home Lenders Association executive director Scott Olson.

U.S. mortgage applications slid for a sixth straight week as mortgage rates climbed to a 12-year high, weighing on both home purchases and refinancing.

In the agreement, the bank denied allegations that it refused to issue a mortgage until one of the applicants returned to work from maternity leave.

Economists have largely slashed mortgage forecasts for 2022, but only the government-sponsored enterprise expects lower purchase volume for 2023, citing the likelihood of a downturn.

Money markets already betting on an almost half-point Federal Reserve rate hike next month received a wake-up call Monday from St. Louis Fed President James Bullard who said a three-quarter-point increase shouldn’t be ruled out.

The company is blaming anticipated declines in origination volume for its latest cuts.

Despite lean inventory, efforts by builders to boost production have been hindered by supply-chain challenges, soaring materials costs and difficult hiring conditions.