Origination

Mortgage rates near 7%, worker shortages and higher materials costs have weakened hopes for the nation's stagnant housing market.

The contract rate on a 30-year mortgage rose 12 basis points to 6.97% in the week ended Sept. 11, according to Mortgage Bankers Association data released Wednesday.

Whether their solutions come from in-house investments or vendors, top originators don't let their loan officers waste time tinkering with technology.

In the U.S., the rise in the 10-year rate is particularly important because it serves as a baseline to price other loans such as mortgages.

Bill Pulte, FHFA director, has ordered Fannie Mae to update its servicer guide to mirror Freddie Mac policy regarding notifying borrowers about dropping MI.

It will be a promotion for Jones, currently the deputy assistant secretary for single-family housing at the Department of Housing and Urban Development.

The Federal Housing Administration share of August new-home purchase applications hit its highest mark in three months, the Mortgage Bankers Association said.

The yield, a benchmark for mortgages and bonds, rose almost 5 basis points to as high as 5.01%, before pulling back to around 4.99% at 4:10 p.m. EDT Monday.

More depositories are getting involved in the securitized market and the competition is likely to add to expense management challenges of smaller balance loans.

Seller-impersonation attempts more than doubled in two years, with artificial intelligence providing fraudsters new tools to commit crimes, a report said.