Origination

Major secondary market investors recently allowing for the use of an attorney opinion letter (AOL) as an alternative to traditional title insurance has led to the emergence of both instigators and imitators, writes the CEO of Voxtur.

In cities where the demographic made a majority of purchases, homebuyers with average credit scores in the mid-700s submitted hefty down payments.

Federal Home Loan banks aren't doing enough to address the shortage of affordable housing in the U.S., FHFA Director Sandra Thompson says. Some of their members are instead using advances to manage liquidity and perhaps engaging in crypto-related and other activities that put the Deposit Insurance Fund at risk, she says.

Interest rates and inflation are at the top of the list of problems facing the industry, but attracting consumers under current market conditions has become more concerning, according to the National Association of Home Builders.

But with rates turning back up this past week, activity could fall in February, Black Knight Optimal Blue said.

The change comes as the battle with rival United Wholesale Mortgage reaches a fever pitch and analysts speculate that more changes at the top could be coming.

Average housing costs have surged over 40% since 2019, outpacing 15% in wage increases, the National Association of Realtors said.

The company reportedly hired Truist to broker the loan origination system, which observers have been saying all along would have to happen.

While reverse mortgages allow older homeowners the opportunity to draw on home equity with minimal risk, problems arising from flaws in program structure are causing headaches for borrowers and issuers alike, according to recent reports.

The Federal Home Loan Banks system's primary affordable housing program has not had an in-depth review in more than 12 years, according to a new inspector general report.