Origination

A growing share of refinances born by lower rates is pushing down risk levels for fraud on a mortgage application, according to First American.

A final rule on residential appraisals published this month could save depositories time and money in the short term, but potentially increase collateral risk.

Extell Development, facing an Aug. 30 maturity for a construction loan, signed an agreement for a new loan on the New York property, using the unsold units in the 815-apartment project as collateral.

Prospective buyers of the boarded-up East Hills Mall recently reached out to Bakersfield city officials with a new vision for demolishing and redeveloping the property into a village-like mixed-use center.

Freddie Mac now forecasts that refinance volume will make up nearly half of third and fourth quarter production, and has increased its origination estimate for the year to over $2 trillion.

Soaring home prices are pushing homebuyers out of walkable neighborhoods into those that are more car-dependent, Redfin said.

Contract signings to purchase previously owned homes fell in July by the most since early 2018, indicating a pause in buyer interest even against a backdrop of falling mortgage rates, a firm job market and steady income gains.

For the second month in a row, Seattle is the only major American city where home prices were lower than a year ago.

Home sale prices in Massachusetts continued their ascent in July, setting a new all-time high for the month and rising to a level nearly 20% higher than five years ago and nearly 40% higher than July 2009.

Mortgage industry hiring and new job appointments for the week ending Aug. 30.