Origination

Sales of new U.S. homes edged up in October, reflecting stabilizing demand even as builders face supply-chain disruptions and buyers grapple with rising prices.

Purchase and refinance numbers both came in higher, while average loan sizes also recorded an uptick.

Mortgage lenders and real estate professionals share their perspectives on the cities predicted to draw the most interest from home buyers in the next year, according to the Urban Land Institute.

The number of homes sold in Maine last month fell compared with the previous October, but prices continued to rise due to an ongoing tightening of inventory.

But in November, home buyer demand reached its highest level since RedFin began compiling the data in 2017.

The regional banks are moving past old-school collection calls, instead using emails, texts and on-screen messages to urge delinquent customers to repay debt. Modern communications are said to be more efficient and in keeping with Consumer Financial Protection Bureau debt-collection rules set to take effect Nov. 30.

As interest rates fluctuated and purchase volumes increased in the second quarter, mortgage loans were more prone to defaults, according to actuarial and consulting firm Milliman.

Alliant Credit Union in Chicago is building a database of Consumer Financial Protection Bureau enforcement actions to analyze patterns over time and help it formulate a compliance program that will withstand political swings in Washington.

However, capacity issues, the suspension of the government-sponsored enterprise purchase caps and higher conforming limits all could affect activity, KBRA said.

Sales are on track to exceed 6 million this year, which would be the strongest since 2006.