Origination

Concerns about the stability of the banking industry helped drive interest rates down, bringing more borrowers to the table, according to the Mortgage Bankers Association.

Other mortgage players this week have distanced themselves from the banking chaos with statements disclosing that they had no relationships with the failed companies.

The National Association of Home Builders/Wells Fargo gauge rose 2 points this month to a six-month high of 44, figures showed Wednesday.

The Homeowner Flood Insurance Transparency and Protection Act would temporarily give consumers with higher rates the option to revert to previous lower pricing.

The company sold off several segments of its business last year and also completed four securitizations of reverse mortgage loans as it fully commits to the 'retirement home-equity market.'

The Santa Ana, California-based lender created the partnership in a bid to capture more purchase business in the Midwest.

Product availability fell to its lowest level since January 2013 as lenders pulled back on offerings across the board, but especially in conforming loans, the Mortgage Bankers Association said.

The shift in short-term interest rate markets Monday was unlike almost anything seen for more than four decades, including even the 2008 financial crisis and the aftermath of the Sept. 11 terror attacks. 

Inflation is the top factor in Chairman Jerome Powell's point of view and that will likely determine if there is no increase or a 25 basis point hike, mortgage industry economists said.

Policies were introduced to provide greater consumer protections, but the bureau specifically noted within its announcement questions it had received regarding payment adjustments in response to competitive pressure or following an originator error