Origination

The Loan Syndications and Trading Association alerts market participants to the challenges of term-SOFR transition before year-end.

The credit union service organization, which changed its name from CU Realty Services in June, has expanded its service area to cater to more homebuyers and help credit unions secure their mortgage pipeline.

Refinance and purchase applications both declined, while average loan sizes shrunk for the fifth consecutive week.

Single-family home construction also increased across communities of all sizes, but notably in outlying metro areas.

A rising — but still small — share of borrowers believe interest rates and housing price appreciation will fall in the next year, according to Fannie Mae.

The jump is the largest 12-month gain in the index since the series began 45 years ago.

The changes could help one of the Biden administration’s affordable housing goals, which is aimed at making wealth-building through owner-occupied, 2- to 4-unit properties more attainable.

Residential construction was up 27% year over year in July, according to the U.S. Census Bureau.

Improved capitalization and smaller balance sheets should help several weather the likely consolidation that is coming, Moody's said.

Almost $35 million of the total is earmarked for compliance efforts at 93 organizations.