Origination

At the same time builders and lenders report contracting credit on offer, sentiment in the residential construction industry improved in the latter half of 2024.

The consortium of businesses intends to work with state regulators to protect consumers as interest from secondary market investors also grows.

Southeast homeowners affected by the storms last fall submitted a combined over 78,500 flood insurance claims to the National Flood Insurance Program.

A $1 billion assessment announced Tuesday for California's FAIR Plan, the state-mandated insurer of last resort, is expected to drive up premiums as companies will likely pass some of the costs onto homeowners.

While Freddie Mac's weekly survey showed 30-year rates falling, other indicators paint a mixed picture for mortgage lenders and borrowers.

But the company took a credit loss provision in the fourth quarter, deciding to add to its reserves because of new mortgage acquisitions to its portfolio.

A series of moves aimed at deleveraging its balance sheet led to the loss, but the bottom line improved markedly over 2023.

Federal Reserve Chair Jerome Powell said insurance companies and banks are already pulling out of disaster-prone areas, which could pose problems.

The company more than doubled results over comparable periods and exceeded estimates due to stronger economies of scale and valuation adjustments in its favor.

The latest refinance surge helped lift total application activity up for a second straight week, even as purchases fell, the Mortgage Bankers Association said.