Origination

The reopening of the economy may only go so far toward reversing the intensified shift toward building in areas with longer commutes.

Scams in which a real person’s information is used to create fictitious businesses or individuals have led to $6 billion in credit losses. The Federal Reserve has developed a standard definition for synthetic identity fraud so lenders can distinguish it from traditional identity theft.

The digital title insurance, closing, escrow, and recording services provider has now raised a total of $110 million in funding.

The program, announced last October, looks to provide services to minority-owned banks and credit unions so they can increase homeownership rates in their communities.

The MBA’s Market Composite Index decreased a seasonally adjusted 4% last week, dropping to a point not seen since February 2020.

Borrowers with loans secured by personal rather than real property made up 46% of manufactured housing borrowers in 2019 and of this group, only 5% used the loans to refinance.

Housing experts and advocates disagree on the biggest factor in advancing the Black homeownership rate — and that's part of the problem.

Storm-related reconstruction costs — a large share of which may be concentrated in the New York City area — are estimated to total $1.9 trillion for water damage and $8.5 trillion for wind damage.

Housing value growth in April hit a 15-year high as the inventory squeeze created gridlock between baby boomer sellers and millennial buyers, according to CoreLogic.

The funding requests break sharply with the Trump administration's calls to eliminate key housing funds and backing for community development financial institutions. The White House also wants to substantially increase the budgets of the Treasury Department and the Small Business Administration.