Origination

Tight inventory and heightened competition kept prime purchasers at bay as property values continued their summer surge, according to Fannie Mae.

The company’s $204 million in net income was down from unusual highs seen recently but still historically strong thanks to the balance between its loan channels and servicing operation, representatives said.

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Delinquency concerns continue to wane as the end of forbearances is not expected to lead to a massive wave of foreclosure activity.

Increased purchase lending and added pressure from Fannie Mae and Freddie Mac’s new loan limits should drive the likelihood of borrower misrepresentation.

The gain reinforces other estimates that suggest more work-intensive purchase originations have spurred companies to increase staffing. Hiring addressing changing needs in servicing may come next.

Co-chair Susan Rice, a former United Nations Ambassador, has made racial equity a central issue to her agenda as domestic policy council chair.

The hot hot real estate market has pulled homeowners out of a debt trap that many had been stuck in since the great financial crisis more than a decade earlier.

The last-minute creation of the new federal holiday raised questions for lenders who must adhere to certain timelines regulated by the Consumer Financial Protection Bureau.

Late payments on office loans have trended upward recently, but longer lease periods may mitigate the potential for distress in that sector, the Mortgage Bankers Association said.