Origination

The overall number of applications decreased for the fourth straight week, but average loan sizes headed back up, according to the Mortgage Bankers Association.

The Federal Reserve Chair Jerome Powell said the central bank expects to raise interest rates later this month to tackle hot inflation amid a tight labor market while Russia’s invasion of Ukraine has added uncertainty.

CoreLogic reported a 19.1% rise in annual appreciation but also noted that several of today’s hot markets are overvalued or at risk of declines.

The company had its best fourth quarter ever for loan production, with purchases making up nearly 45% of that.

The rebranding comes four months after UniversalCIS — itself a combination name — and Credit Plus merged.

Optimal Blue researchers found correlations of 75% or more when looking at numbers of different loan-size cohorts, but the percentages came in lower when state data was analyzed.

The Mortgage Bankers Association now predicts slightly more purchases even with higher rates, but the Ukraine situation could change that.

The record amount is largely a reflection of the two banner years the mortgage market recently enjoyed, but it’s also one of the smallest gains seen in recent years.

Mortgage companies can open doors to homeownership for more minorities by incorporating low-down-payment financing options; closing cost credits; down-payment assistance; diverse, in-market sales teams ready to provide access and support; and more, writes the chair of the Mortgage Bankers Association.

In a court filing, America’s Moneyline claimed the wholesale lender refused to fund over 100 loans held in its pipeline unless it ceased working with leading competitors.