Origination

An analysis of Home Mortgage Disclosure Act data reveals that banks continue to trail nonbanks in volume and another reveals that despite some improvement, inequities in lending to minority groups persist.

As the effects of the pandemic continue to reshape the rhythms of the industry, mortgage lenders and brokers others predict a busy, competitive landscape but say more non-QM loans will fill volume gaps caused by low supply.

While the median income rose 1% over the last year, the median price of a home rose a staggering 25%, according to the the Federal Reserve Bank of Atlanta.

More properties on the market are also selling quicker, with almost 60% now receiving accepted offers within two weeks.

The Department of Housing and Urban Development’s inspector general said the Federal Housing Administration needs to improve guidance for servicers and improve controls.

A gauge of U.S. pending home sales fell unexpectedly in February for a fourth straight month as limited inventory continued to restrict a real estate market that’s now facing another challenge — rising borrowing costs.

Less than 5% of U.S. homeowners can save money by refinancing their housing loans, the smallest proportion in the history of the mortgage bond market, as borrowing rates surge to their highest level in three years.

Lawmakers also asked officials to include more perspectives from Veterans Affairs and USDA representatives and increase focus on manufactured home valuations.

Federal Reserve Governor Christopher Waller said longer-run structural issues will continue to put upward pressure on home prices and rents even as the central bank begins a campaign to raise borrowing costs.

The Purchase Applications Payment Index was 8.3% higher in February compared with January and 22% over the same month in 2021, the Mortgage Bankers Association found.