Origination

Concrete prices have surged 10.7% in 2022, but the cost of once-volatile softwood lumber has moderated greatly since the summer, according to the National Association of Home Builders.

Borrowers' affordability concerns drove activity lower than normal seasonality in November would indicate, Black Knight said.

The cut occurred across departments and included the dismissal of the company's head of mortgage.

The charge carries a total of 30 counts, including two Class C felonies and a maximum sentence under the top charge of 15 years in prison.

One of the biggest U.S. homebuilders is offering to sell thousands of homes to rental landlords at a time when sales to everyday buyers have slumped. 

Borrowers gained an average of $34,300 in home equity since the third quarter of last year, but that's almost half the amount of growth recorded over the summer.

But that's largely because homes are staying on the market longer — almost three weeks more than in early summer on average.

Benefits under the Servicemembers Civil Relief Act were applied to fewer than 10% of auto loans for active-duty reserve members, the agency found. It urged financial institutions to ease the process for accessing the law's interest rate protections.

The depository joins other mortgage players small and large in exiting the space amid the market's significantly reduced activity.

A new state study suggests that mortgage lenders are putting up barriers to home ownership among people of color.