Origination

A surge of mortgage originations allowed Ginnie Mae to surpass its high watermark for mortgage-backed security issuance by nearly 33%.

California house sales will rebound slightly next year from the pandemic, and home prices will continue edging upward, thanks to rock-bottom mortgage rates and strong homeownership demand, according to the California Association of Realtors.

The pandemic has exacerbated delays and inefficiencies in loan manufacturing, while adding to security risks.

Providers, including investors in low-income housing tax credits, have become hesitant to make deals.

One could change how commercial property is taxed, the other could change rent control policies. Both might affect financing.

Mortgage applications decreased 0.7% from one week earlier, but lending activity should continue strong for the remainder of the year as rates stay low, according to the Mortgage Bankers Association.

While overall mortgage delinquency rates slowly descend, serious delinquencies — especially loans past 120 days due — jumped in July, according to CoreLogic.

But current owner Blackstone and FOA management will keep 70% of the company after its merger with a SPAC.

Earnings increased by 81% year-over-year as its gain-on-sale margins grew nearly 2.5 times.