Origination

In four of the six periods in the last 30 years where mortgage rates increased significantly, sales also grew, First American said.

While the overall number of applications dropped last week, average mortgage sizes shot up across all categories.

Key retail vacancies, a drop in office occupancies, plus a combination of lower oil prices, a housing market oversupply — worsened by the coronavirus pandemic — caused loan-level performance issues.

The government-sponsored enterprise has 45 days to submit a plan on how it intends to meet the increased target for 2022 through 2024.

Recent existing home sales have been stronger than expected, but next year could see a market held back by the inventory shortage and higher rates.

The crime highlights the importance of ensuring the integrity of documentation used by lenders to verify loan information at a time when defect risk is rising.

The decline in competition might not have helped with affordability but it gave home purchasers more time to consider properties before they were snatched up.

Lenders gaze into the looking glass to forecast what’s ahead for the industry’s jobs, product mix, capital market policy and more.

Although seasonal slowing and limited inventory have temporarily reduced prospective financing, the number sales in the sector hit nearly 1 million in November, according to the Mortgage Bankers Association.

The central bank’s new tone has many in the industry planning for potential volatility in 2022.