Origination

A group of financial industry players — including mortgage servicers and credit unions — are joining together to form a new coalition promoting workforce diversity.

The average down payment percentage rose 49 basis points for a conventional 30-year fixed-rate mortgage between the first and second quarters, according to LendingTree.

Home purchase lending hit its highest point since 2007 as low interest rates and growing consumer confidence continue to support the housing market.

The percentage of vacant bank-owned properties is larger now versus a year ago as banks are completing more foreclosures, according to Attom Data Solutions.

Mortgage industry hiring and new job appointments for the week ending Sept. 9.

A rising number of banks are looking to become community development financial institutions, emboldened by low-cost capital and an exemption from the ability-to-repay rule.

The owner of 9 West 57th St., an entity controlled by real estate developer Sheldon H. Solow, is using the loan to refinance the building, cashing out $485 million of equity in the process.

Home equity line of credit originations are in the midst of a comeback, fueled by the rise in home prices, according to a white paper released by Experian.

Mortgage credit availability decreased in August as one originator decided to stop its whole loan purchase program, according to data released Thursday by the Mortgage Bankers Association.

Regardless of who wins in November, the mortgage industry will see significant changes, but Hillary Clinton and Donald Trump would take very different approaches to housing and regulatory issues, said Mortgage Bankers Association President and CEO David Stevens.