Origination

In markets across the US, homebuilders sitting on unsold inventory are subsidizing mortgage rates so heavily they sometimes match the record lows last seen during the Covid-19 pandemic.

Industry professionals shared stories of homeowners looking to get out and investors pausing deals, while others cautioned a wait-and-see approach.

The Consumer Financial Protection Bureau is considering a proposal to reduce its oversight of auto finance lenders, saying the benefits of supervision may not justify the "increased compliance burdens."

The lender reported $33.3 million in net income in the third quarter this year, up from the second quarter and same period a year earlier.

The latest sale consists of close to 1,200 HECMs secured by vacant residential units found in 46 states, according to data provided by the government agency.

What makes the situation alarming is the government attack on the fair lending enforcement infrastructure, said Lisa Rice of the National Fair Housing Alliance.

Treasuries fell after the US government signaled that larger auction sizes are on the horizon, while signs of economic resilience hurt the odds a Federal Reserve interest-rate cut in December.

Southern states' government-sponsored enterprise share lags outside of a small number of metros, the Center for Mortgage Access' analysis of HMDA data shows.

Home price modeling changes hurt FOA's third-quarter interim results but it was in the black between January and September on a continuing operations basis.

While FHFA reduced most of the single-family low-income goals, the MBA wants the refinance target for Fannie Mae and Freddie Mac cut as well, its letter said.