Originations

The wholesale giant touts the move as giving brokers a leg up on banks and retail lenders waiting for the next origination wave.

Aspiring buyers took out fewer loans last week, leading to the overall decline, but the average purchase-loan size also surged to its highest mark since last spring, the Mortgage Bankers Association said.

The company's building unit saw income slow, but the mortgage banking division number accelerated on both a quarterly and annual basis.

The net proceeds will be used to pay down borrowings on a credit line secured by its mortgage servicing portfolio.

Two Harbors, which also reported a gain in comprehensive income, recently completed an acquisition that made it the eighth largest conventional servicer.

A potential buyer with a budget of $3,000 per month for their payments is now able to afford an approximately $453,000 home.

In the wake of the Surfside condo collapse, Freddie Mac and Fannie Mae instituted stricter rules regarding the soundness of this crucial form of housing stock as it ages. In response to complaints about a lack of clarity on buildings deemed unfit for financing, the GSE unveiled plans to improve transparency for both homeowners associations and lenders. 

At the same time, the Hilltop Holdings unit expects its gain-on-sale margins to remain pressured in the coming year.

Connecticut issued a cease and desist order, alleging that Loansnap used unlicensed originators to solicit borrowers and accept loan applications in violation of multiple federal laws.

Even with the 9 basis point rise this week, they have remained at the same level since mid-December, and that should bring people into the market, Freddie Mac said.