Origination

Many banks reported sharp declines in income from home loans during the second quarter. The large gains they enjoyed last year thanks to a surge in refinancing activity are unlikely to return, according to bankers and analysts.

The numbers in a new Research Institute for Housing America report reinforce other signs that recovery isn’t moving quite as quickly as originally anticipated.

A ClimateCheck score measures the risk of disaster at the zip-code level over the period of a 30-year mortgage.

Despite declining rates, refinancing volume fell, while purchases slowed even further after dipping to its lowest point in over a year.

President Joe Biden quelled for now a brewing confrontation with progressive Democrats with a new moratorium on evictions during the pandemic, but the order invites a legal fight with high-stakes consequences for public health that the government may well lose.

The deal comes just days after Figure closed on a capital raise that valued it at $3.2 billion.

The gain on sale in the retail channel dropped by more than half annually, as the wholesale and joint venture channel endured an even tighter squeeze due to competitive pressures

The gulf between buyer demand and the amount of listings for sale drove housing values to a six-decade peak, according to CoreLogic.

While the hot market’s actual and forecast home price gains were key drivers of Fannie’s results, they also present a challenge to the affordable housing mission that it’s working to address.

Offered through the company’s 11 chartered units in 12 states, the five-year fixed-rate installment loan is secured by the home and is available between $5,001 and $14,999.