Origination

A spike in government-sponsored applications helped lead indexes to their largest gains in several weeks.

Residential starts rose 3.6% last month to a 1.57 million annualized rate, according to government data released Wednesday

A $28.8 billion rise in multifamily debt made up 65% of the $44.6 billion quarter-to-quarter gain, the Mortgage Bankers Association reported.

The move makes it easier for borrowers who don’t have standard W-2 incomes and those that do to get loans from the same outlets, and reflects broader trends.

The real estate technology company had a $498 million valuation, according to PitchBook, but it could get a sizable premium to that if it were to go public.

Changed borrower psychology and the severe housing inventory shortage dropped lending activity across the board, according to Black Knight.

There’s now a unique, additional source of demand that’s opening up in an already fiercely-competitive housing market that VA lenders have to solve for.

Fears of widespread credit losses have largely subsided, but demand for new commercial real estate loans remains lackluster because many companies are sitting on so much cash they don’t need to borrow. Meanwhile, competition from private equity groups and other nonbank lenders is escalating.

Also: Residential delinquencies reach a pandemic low, groups seek to keep mortgage origination and securitization rules aligned

Tighter mortgage rules could also be weighing on second-home buyers given that loans for such purchases, along with those for investment properties, can only make up 7% of a lender’s total pipeline