Origination

The 30-year fixed-rate mortgage average dropped back below the 7% level as investors reacted positively to news the economy is slowing, Freddie Mac said.

The deal is expected to open up "substantial funding capacity" for Los Angeles-based BARH Dunmore, which launched in 2021.

The company foresees a dampened mortgage originations market through 2026, as last year's trends continue to have an impact on housing.

Staffing cuts affected employees in the reverse-mortgage lender's retail and corporate units, the company confirmed.

Besides allegations of trade secret theft, HMAC is accusing rival OCMBC and Michael Turturro of stealing the branding around its Jet Mortgage division.

St. John's Lutheran Church in Madison is redeveloping its property to build affordable housing blocks from the Capitol in the booming East Washington corridor.

Both purchases and refinances dipped as rates failed to help borrowers, but government lending picked up a rising share of loan volume, the Mortgage Bankers Association said.

The Consumer Financial Protection Bureau said in a new circular that it's still watching for attempts to get borrowers to sign away rights that can't be waived.

Brokers say the credit giant, which charges $66.45 per individual check, hasn't made its product better through its acquisitions.

The changes that affect how buyer broker commissions are paid go into effect on Aug. 17, but there's much uncertainty about carrying them out, said Ryan Tomasello of KBW.