Origination

New assistance for renters may help but past efforts, while necessary, failed to get relief to renters in an expedient way, said David Brickman, who is now the head of a new agency lending platform backed by Barings and Meridian Capital.

The acquired platform, while remaining stand-alone, will have integrations with Black Knight's Empower loan origination system for mortgage lenders.

But building permits near an almost 15-year high point to further gains in home construction in the months ahead. The data coincide with still-elevated homebuilder sentiment as the industry works to replenish lean inventory and meet housing demand.

While the economic recovery and stimulus checks drove upward movement in purchases, it wasn’t enough to offset tumbling refinance activity.

After its three acquisitions since last August, the Philadelphia area-based credit data firm predicts more industry consolidation is on the way.

Apart from saving more money, millennials prefer to spend their savings on a home down payment, Zonda economist Ali Wolf said.

The credit could cover the minimum down payment for the average Federal Housing Administration-insured mortgage in most large metropolitan areas.

“Builders continue to be confronted with rising input costs and a lack of available lots, causing them to slow production,” MBA’s Joel Kan said.

The Michigan bank is the latest company to have customer data compromised through a software vulnerability. The incident reinforces the importance of attack simulations, constant searches for intrusions and exchanges of intel with peers.

United Wholesale Mortgage's new rule, which forbids brokers from doing deals with two competitors, has brought extra attention to its smaller rival.