Origination

The average weekly rate for a 30-year loan slipped slightly below 4% and rates for adjustable-rate mortgages averaged new record lows in Freddie Mac's survey Wednesday.

The government-sponsored enterprises' Uniform Mortgage Data Program has been marred with delays and setbacks since the earliest steps began at Fannie Mae two-and-a-half years ago with the precursor to the Uniform Collateral Data Portal, the technology platform that will accept full electronic appraisal reports in a new XML-formatted data file.

Application volume fell by 1.2% on a seasonally adjusted basis for the week ended Nov. 18, as purchase apps were up to their highest level since August, but refinancings were down to their lowest point since July, according to the Mortgage Bankers Association. The data for the previous week (Nov. 11) was adjusted to take into account Veterans Day.

Only one county in the country–Fairfield, Conn.–will have a higher conforming loan limit in 2012. The ceiling in the other 3,200-plus counties will remain unchanged.

For the third consecutive month, builders in California pulled an increasing number of permits compared to the previous year.

Americans' confidence in their future retirement lifestyle reached a four-year low according to Sun Life Financial's Unretirement Index.Only 23% of those surveyed felt very confident they will be able to meet their basic living expenses in retirement. In the 2010 study, this number was 42%. Furthermore, one in five feel they will never be able to retire.

With the current low interest rate environment, a financial planner is saying unorthodox income-planning strategies need to be considered, such as using IRA or 401(k) funds sooner in the retirement timeframe to avoid drawing on Social Security benefits earlier than necessary.

Innkeepers USA Trust has emerged from Chapter 11 bankruptcy by completing the sale of 64 of its hotels to a joint venture between the private equity firm Cerberus Capital Management and the real estate investment trust Chatham Lodging Trust.

Single-family originations by commercial banks and savings institutions jumped almost 17% in the third quarter from the prior period, but compared to a year ago production is down 23%, according to new figures released by the FDIC.

Big banks are fleeing the reverse mortgage industry, leaving specialty lenders with more business than they know what to do with.