Origination

Total investment property lending this year should be 31% above 2020's pandemic-affected activity.

Rocket Mortgage is offering $2,500 in lender credits to homebuyers purchasing a primary residence in Detroit, the mortgage giant of Rocket Companies Inc. said Monday.

Ten classes of multifamily mortgage pass-through certificates will be issued from the trust, which is secured by 29 loans on 29 properties.

Landlord groups have challenged the policy, arguing that the administration bowed to political pressure even though it knew the eviction freeze wouldn’t pass muster with the courts.

An equal split of refinance and purchase rate locks occurred during July, helped by elimination of the adverse market fee, Black Knight said.

The real estate and mortgage company’s revenue beat estimates, but a deepening loss appears to have worried investors.

Tight inventory and heightened competition kept prime purchasers at bay as property values continued their summer surge, according to Fannie Mae.

The company’s $204 million in net income was down from unusual highs seen recently but still historically strong thanks to the balance between its loan channels and servicing operation, representatives said.

Also: Biden issues new eviction ban, CFPB clarifies rule on Juneteenth, Fannie Mae sets purchase mortgage acquisition record & more

Delinquency concerns continue to wane as the end of forbearances is not expected to lead to a massive wave of foreclosure activity.