Origination

Affordability was at its lowest point since the mid-1980s while home price appreciation numbers remained historically strong, Black Knight’s latest report found.

The bank began trimming its payroll after a dismal first-quarter origination performance. It will announce second-quarter results next week.

Capital adequacy at the four largest underwriters remained strong at the end of 2021 even with a slight decline from the prior year, Fitch Ratings said.

Average purchase-loan amounts shrank for the second week in a row and are currently 12% below their record size in March.

Drop in new contracts and waining interest point to a slower Q3 as consumers grow cautious about a recession.

But second home sales — which were below pre-pandemic levels for the first time in 24 months during May — may slow in the future as those in vulnerable areas get tougher to insure.

Even with another annual surge of over 20%, the pace of home-price growth eased in May and experts anticipate even further moderation over the next year.

And in other consolidation news, HomeServices of America’s Pickford Escrow Co. picks up competitor Legendary Escrow Services.

Congressional authorization for credit-preference programs in the Equal Credit Opportunity Act could mitigate disagreements that might arise from the equitable housing finance plans, write two partners at K&L Gates.

Borrowers condemned the company's disclosures, which came six months after the incident and omitted details about the hack and subsequent investigation.