Origination

The proceeds are expected to be reinvested into agency mortgage-backed securities, which already make up 93% of Annaly's portfolio.

That growth could be attractive to a housing finance industry that needs to find new loan sources as easy rate-and-term refinances dwindle.

But the 10-year Treasury yield began backing down after the weekend as investors reacted to turmoil in Europe.

Willis, Texas led the list, with the most borrowers who would be likely to default if faced with sudden financial hardship.

But UWM says the provision is designed to protect against a broker double-locking the loan and is used by other lenders.

Stuck between local zoning hurdles and a lack of ideal federal financing, ADUs could be an important aspect to unlocking much-needed inventory.

Despite a 3% increase in new mortgages, overall applications dropped 2% on a consecutive-week basis due to a 5% decline in refis, according to the Mortgage Bankers Association.

Volumes were at a record high in the final quarter of 2020 but lenders didn’t make quite as much since gains on loan sales to the secondary market fell.

The $10 million program appears to be the first of its kind in the nation.

The San Diego-based company produced $10.6 billion in the fourth quarter, and has done $6.1 billion in the first two months of 2021.