Origination

The persistently slow reduction in the number of borrowers at risk of default indicates that while loan performance overall is improving, a substantial pool of mortgages will need workouts when forbearance ends.

While it’s the third straight week of a downward trend, borrowers likely have only a brief opportunity to take advantage of sub-3% rates before a reversal comes.

Given the Biden Administration’s regulatory emphasis on the disparate impact of mortgage lender activity on protected classes, originators need to carefully monitor their loan price concessions, according to industry speakers at the Mortgage Bankers Association's Spring Conference.

The busiest season for home buying took off with a bang last month, as fierce competition among buyers drove prices up and sales soared to one of the highest levels in years.

Although the company’s revenue and incomes spiked from year-ago levels, most benchmarks showed a decline from the fourth quarter.

Carson was also named a member of the company's nominating and governance, audit and compensation committees.

Fannie Mae and Freddie Mac’s new limits on loans secured by investor properties and second homes may put pressure on applicants to misrepresent their occupancy status.

While purchase volume is seeing its usual seasonal pickup, lower rates caused a spike in activity among existing homeowners looking to refinance.

At the metro level, Buffalo, N.Y., had the worst undervaluation for Black-owned homes at 86% followed by 72% in both Memphis, Tenn., and Indianapolis, Redfin found.

First quarter volume was up 3% among eight depositories that reported so far, compared with models that predicted industry-wide drops as large as 13%.