Origination

Sales of previously owned homes surged by the most on record in July as lower mortgage rates continued to power a residential real estate market that's proving a key source of strength for the economic recovery.

Rather than letting zombie properties sit vacant, selling them to new owners and getting them reoccupied, creates the desired outcome.

Uncertainty over the economy, the pandemic and politics are keeping existing owners from listing their homes.

After seemingly falling off a cliff in April and May amid the cornavirus pandemic, Central Texas home sales have bounced back in a big way.

Mortgage industry hiring and new job appointments for the week ending Aug. 21.

Positive payment behaviors in conjunction with CARES Act measures kept mortgage delinquencies from rising, but the number of borrowers facing hardship grew exponentially from last year, according to TransUnion.

Lenders initially won't be able to pass on the cost of the Federal Housing Finance Agency's "adverse market fee" to borrowers whose rates on GSE-backed mortgages and refinances are already locked in.

The higher charge on mortgages refinanced through Fannie Mae and Freddie Mac is supposed to cushion against a crisis but could contribute to one as the fees are passed on to struggling consumers.

Mortgage rates crept up this week, nearly reaching the 3% mark as lenders raised prices because of a new fee, although purchase activity remained solid, according to Freddie Mac.

The CFPB is giving stakeholders until Dec. 1 to file comments on a potential overhaul to its rules related to the Equal Credit Opportunity Act, which prohibits discrimination in credit and lending decisions.