Origination

The extension in the number of days investors are locked out of the process comes amid a broader push by the Biden administration to boost access to affordable housing.

The White House and the Federal Housing Finance Agency announced steps to help nonprofits and public agencies buy foreclosed properties, among other initiatives, as part of a plan to boost supply over the next three years.

Average loan sizes also grew, as continued demand for homes still outpaces inventory.

The deal comes with a 10-year agreement for Arch to serve as the exclusive mortgage insurance provider for Westpac LMI’s former parent financial institution in Australia.

Meanwhile, property values across the U.S. have increased for 40 quarters in a row, according to the Federal Housing Finance Agency.

The S&P CoreLogic Case-Shiller index of property values nationwide surged 18.6% in June from a year earlier, according to a statement on Tuesday.

None of the leading areas ranked by investor share of sales were in the Golden State during 2020, in contrast to the state’s dominance on the list in the wake of the Great Recession.

However, with mortgage rates down and household income increasing, consumers have 129% more buying power today than they did 16 years ago, according to First American.

Payments from PayPal, Venmo and Zelle add an extra wrinkle when dealing with bank statement loans.

U.S. pending home sales unexpectedly declined for a second straight month in July as limited inventory and soaring prices deterred some prospective buyers.