Origination

The cost of renting a home is soaring in cities across the U.S., squeezing the finances of low-income households and posing a threat to the consensus that pandemic inflation will soon fade away.

The lack of a stabilizing force in the commercial real estate mortgage business is creating one of the most significant threats the lending industry faces, writes the CEO of Cirrus.

The city's office vacancy rate rose to 20.1% in the second quarter despite an increase in leasing activity.

Also: Former Zillow execs launch mortgage fintech, housing inventory inches up as lumber prices tumble.

The number of grievances about evictions and federal student loans declined between January 2020 and May 2021. Nonetheless, the Consumer Financial Protection Bureau warned financial firms that poor customer service can undermine government efforts to provide aid.

After lumber futures skyrocketed to an all-time high in mid-May, prices fell by more than half at the end of June.

Even though the channel helped the bank do over $2 billion in business last year, going forward it will produce loans through the traditional retail business.

The plateau in non-depository estimates for new jobs in the field reported Friday follows anecdotal accounts of reorganization by banks and nonbanks in the past week.

It is only a modest positive for new publicly-traded mortgage companies if acting Federal Housing Finance Agency head Sandra Thompson rolled back the caps put in place by the agreement with the Treasury.

Historic data suggests that first time home buyers may want to wait out current market conditions, a new report states.