Origination

The department wants to make changes to its reconsideration of value process by giving Federal Housing Administration borrowers the opportunity to seek a second appraisal

While supply was up by over 54% compared to a year earlier, new home listings decreased, according to Realtor.com.

The 30-year fixed loan rate dropped 15 basis points compared with last week as bond market investors acted in advance of this morning's Consumer Price Index report.

With Control Your Price loan officers can lower the interest rate by up to 40 basis points on a loan and by 1.25 percentage points across their pipeline.

The move, which comes with an unspecified number of layoffs, is expected to cost the company $3.8 million to $4.6 million in pretax charges in the second quarter.

The shift opens the door for regional banks to increase their aggregation activities, analysts said.

But refinances saw an upturn and pushed overall loan activity higher in the first week of 2023, the Mortgage Bankers Association said.

Many industry stakeholders have been watching certain credit measures closely for signs that underwriting is loosening out of concern it could do so excessively, but indicators still show it's historically tight.

Among current investors in the market, 7% are between 18 and 29 years old, while 15% of those looking to make their first purchases also belong to the same age group, according to a new study.