Origination

Purchase volumes reached their highest level since early May, but current numbers sit 30% lower than where they were a year ago, the Mortgage Bankers Association said.

The proposed legislation from Tennessee Republican John Rose calls for limiting the sale of consumer information to mortgage lenders, but includes stipulations for those with existing relationships.

Between 2004 and 2021, the share of originations under $150,000 has declined by 70%, forcing a growing number of consumers to seek alternative forms of financing instead of getting a mortgage, a Pew Charitable Trusts report found.

Cullen/Frost, Columbia, Synovus, Valley National and Associated all have relatively large exposures to the office sector, which has been hurt by the popularity of remote work. Their executives point to factors that offer protection, including the geographic composition of their portfolios and the types of buildings that serve as collateral.

But the annual rate of change turned negative for the first time in 11 years, according to the Case-Shiller index.

The agreement will allow the fraud prevention company to use this platform to access consumer account data prior to the initiation of a funds transfer.

Nonbanks in home lending rely heavily on this type of funding and are carefully watching rules for depositories that offer it as the industry consolidates.

However, as it currently stands, most measures suggest "the market does not have a path to close the housing deficit in the near-term," Citigroup said. 

Researchers at the government-sponsored enterprise also maintained their outlook for a modest recession but moved anticipated onset to the fourth quarter this year.

The first and fourth-largest home insurers in the Golden State won't issue new policies because of rising construction costs and exposure to catastrophes.