Origination

The number of bidding wars increased for the sixth consecutive month, as Salt Lake City remained the most competitive housing market, according to Redfin.

Lenders also increased jumbo product availability as well as rolling out new SOFR-indexed ARMs.

Facing a slim inventory of existing homes for sale, Denver buyers are snapping up new homes at the fastest pace in the country, a rebound so strong that it has caught local builders off guard.

There have been several extensions of the policy since it was put into place as a way to sustain originations amid a wave of forbearance allocated to borrowers with government-related loans.

The Federal Housing Administration said in its annual actuarial report that the capital reserve ratio on its mutual mortgage insurance fund increased to 6.10% in fiscal year 2020, up from 4.84% a year earlier.

The teams include people who previously worked for the Treasury and the Federal Housing Finance Agency as well as HUD.

With the coronavirus cutting employment or wages in 32% of households, the number of potential homebuyers could shrink and cause home price growth to hit its inflection point, analysts say.

Mortgage industry hiring and new job appointments for the week ending Nov. 13.

The third quarter’s higher share of purchase applications, which followed the refinance wave that crested in the second, caused a rise in mortgage application fraud risk, according to CoreLogic.

With an unusually high number of unknowns to factor in, mortgage industry leaders offer a peek at their playbooks for the next year.