Origination

The complaint seeks unspecified damages over the bank’s mortgage origination and underwriting practices, alleging minority homebuyers were excluded from affordable, low-risk loans.

Federal Reserve Governor Michelle Bowman suggested that a half percentage-point increase in interest rates could be on the table next month if incoming readings on inflation come in too high.

Third-party originators could help government-related agencies surmount some of the hurdles facing borrowers if they had more access to lending programs, said Linda McCoy, president of an industry trade group.

The estimated rate of annual sales also dropped in January to its slowest pace since July.

The National Fair Housing Alliance's framework, named Purpose, Process and Monitoring, looks to examine the lifecycle of an artificial intelligence model in order to avoid unfairly discriminatory outcomes.

The monthly mortgage payment for homes in the median asking price range hit a new high, up 31% from before the pandemic, according to Redfin.

Sales of previously owned homes unexpectedly increased to a one-year high as buyers rushed in ahead of a surge in mortgage rates, further depleting tight inventories to a record low.

The 2022 origination outlook was dropped by $172 billion and for 2023, economists at the government-sponsored enterprise made a $226 billion reduction.

Despite a slowing in the private-label securitization market in January, lenders and investors are expecting a strong year for outside-the-box originations and their secondary market sales.

New U.S. home construction fell in January for the first time in four months, indicating pandemic-related labor absences and winter weather tempered recent progress on building activity.