Origination

Confidence among U.S. homebuilders pulled back in July to an 11-month low as builders contend with elevated materials prices and ongoing supply shortages.

Consumers are booking rooms at levels not seen since early 2020 and loan delinquencies have fallen sharply as a result. Still, business travel remains sluggish and new COVID variants are spreading, threatening the hotel industry’s recovery.

Also: Fannie Mae, Freddie Mac loan modifications reach a pandemic high, Recreational marijuana is a gateway drug to higher home prices

The GSE forecasts $4 trillion in production this year because refinance activity is stronger than expected.

The agency’s new chief said eliminating the “adverse market fee” — in place since December — will make it easier for families to refinance while mortgage rates are still low.

“One” is the first in a series of non-agency mortgages the wholesaler plans to introduce this year.

The bank's noninterest expenses fell by 8% in the second quarter — a sign that CEO Charlie Scharf is making progress in reining in spending that had been soaring in recent years amid heightened regulatory scrutiny. He ultimately hopes to reduce gross expenditures by $8 billion annually.

Purchase loans also increase, as their average size shrinks

In states where it is legalized, cannabis sales tax revenues led to greater home value appreciation through community reinvestment, according to an analysis by Clever Real Estate.

The company, OriginPoint, brings together two enterprises active in the jumbo-homes space.