Origination

For first-time buyers, mortgage payments jumped to 25.6% of household incomes in the fourth quarter, the worst affordability level in three years, according to the National Association of Realtors.

The move takes Constellation Mortgage Solutions into the reverse mortgage business, which has fewer competitors than forward loan origination and servicing systems.

The nation's second largest title insurer reported lower fourth quarter earnings, but the shift to purchase transactions pushed revenue higher.

Inflation data showing a 7.5% increase in consumer prices will likely lead to Federal Reserve moves that apply continued upward pressure.

Lumber futures have recouped recent losses and risen by the exchange maximum of $45 for six consecutive sessions, touching $1,204.90 per 1,000 board feet Wednesday, the highest in three weeks.

The changes follow the company’s acquisition by Pretium in November of last year.

Steadily climbing rates have contributed to a 40% decline in loan activity from one year ago.

Makers of everything from decks to porches and outdoor lighting are lagging behind the broader stock market this year, joining a selloff in homebuilder shares as casualties of a rising-rate environment.

Using digital methods also saves time for the actual closing, which also contributes to the lower costs, the Notarize study found.

The company said it would increase efforts in non-QM lending and dropped hints about further acquisitions.