Origination

“Low inventory has been a consistent problem,” Lawrence Yun, chief economist at the NAR, said in a statement. “With mortgage rates still very close to record lows and a solid job recovery underway, demand will likely remain high.”

While the government passed sweeping measures last year to prevent mass homelessness among renters, there was no targeted help for mom-and-pop property owners who provide much of America’s affordable housing.

Federal Reserve Chair Jerome Powell is dismissing claims that loose monetary policy has led to rising home values and shrinking inventory and insists that the market is buoyed by creditworthy borrowers and investors.

This is the first deal that serial acquirer FOA has announced since it went public on April 5.

The Consumer Financial Protection Bureau has moved ahead with an earlier proposal to postpone the full adoption of the qualified-mortgage ability-to-repay rule, citing a need to maximize borrowers' credit access.

It would be available to homeowners making 80% or less of their area’s median income who weren't eligible to tap into low rates last year.

After a one-week reprieve, mortgage activity waned again with decreased demand for refinances and extremely low inventory for homebuyers.

The modifiable templates are a follow-up to a similar notification the organization created in 2019 for lender use.

The suit, filed in the U.S. District Court for the Middle District of Florida, seeks class action status.

The recent compression allays fears that lenders would have difficulty serving the needs of borrowers with time-sensitive purchase contracts during a peak season.