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Non-depository institutions originated an even greater share of all home loans compared to the year before, according to the Federal Financial Examination Council’s latest analysis of Home Mortgage Disclosure Act data.

If it works as intended, by calming inflation, it will help to keep mortgage rates low in the long-term.

The mortgage company had experimented with a piggyback product just before the pandemic disrupted the market, and it’s bringing the second-lien portion back as a standalone offering.

In the face of headwinds, mortgage leaders will stay strong by building on past experience, writes the president of Incenter LLC.

These transactions look to add territories or products to counter the effects of origination activity contracting.

Most banks’ interest income will rise following the Fed policy shift. But the rate increase also boosts the likelihood of a recession that could hurt borrowers and drive up loan losses.

The latest Federal Reserve move to combat inflation led to a weekly increase of more than 50 basis points.

The firm cut staff from junior to senior employees in nearly every department and is left with a 325-worker headcount, a spokesperson confirmed.

The rate was 30 basis points higher compared with 2019 due to the record level of mortgage origination during the pandemic, according to Aces Quality Management.

The all-stock deal follows a boom in demand for interim financing on purchases, which HomeLight had been looking to offer on a larger scale.

Prices for new construction dropped in May. In comparison, April construction raised to a 1.81 million rate, the highest since 2006.

Lumber prices have wavered, but gypsum, steel and transportation were still on the rise in the past month, according to a National Association of Home Builders analysis.

Wells Fargo, U.S. Bancorp, Truist Financial and PNC Financial were among the banks that said they are raising their prime lending rates from 4.0% to 4.75%.

The incident at the mortgage fintech occurred late last year as a spate of attacks rocked other housing lenders.

The industry veteran serves on Mortgage Bankers Association board of directors and co-leads its IMB executive council.

The Federal Housing Finance Agency also noted limits to its authority in efforts to free the government-sponsored enterprises from conservatorship in its report to Congress.

The government-sponsored enterprises' new Refinance Application Level Index pulls Desktop Underwriter data in order to give lenders and mortgage-backed securities investors insight into prepayment trends.

Unlike two years ago, when the surge of refinance loans created a vast pool of free financing for the industry to use, today lenders must pay for it by the drink.

Smaller average purchase-loan sizes, which contracted by almost 2%, point to potential signs of diminishing enthusiasm among homebuyers.

These buyers snagged 20% of listings in metropolitan areas tracked by Redfin in the first quarter, the highest share since 2000.