Origination

Limited supply and higher mortgage rates have restrained momentum in the housing-market recovery.

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Purchase applications were up 6% as data show a reversal in the previous week’s rate spike.

Underutilized low-income housing tax credits used to fund apartment construction could help offset a decline in multifamily financing availability, if lenders are willing to lower their minimum loan sizes.

Brokers are either staying where they are or looking to become retail branches, says industry executive.

The scheme targeted distressed borrowers at risk of foreclosure by promising them a HAMP mortgage modification in exchange for a $400 to $900 upfront fee.

There were nine Mortgage Industry Equity Composite stocks which closed higher than they did on Monday, seven closed lower and one closed unchanged.

Norcom Mortgage spent more than a year working to upgrade its loan origination system, and recently went live with their provider.

LoanServ aims to provide technology that is easy to access and gives each client a consistent customer experience.