Originations

Some opposition to new allowances for attorney opinion letters may not be accounting for the fact these aren't your grandfather's AOLs, a law firm report claims.

News on the jobs front on Wednesday eliminated two-thirds of the six-day gain in Treasury yields.

Despite a slow return of housing inventory, purchase application numbers dipped in a week where interest rates finished higher, the Mortgage Bankers Association said.

In the three years since the Surfside condo collapse, Fannie Mae and Freddie Mac have made policy changes intended to address safety concerns.

The simplified name comes following the company's introduction of several new apps and initiatives over the past several months, as mortgage businesses look to establish relationships with future customers.

Home sales with mortgages rose from a year ago by a larger percentage, 15.1%, than those conducted in cash, which increased 10.6%.

Nearly one-quarter of borrowers now have a rate above 5% as households in this category grow and the number with rock-bottom financing costs slowly recedes.

However, a significant minority, more than one-in-10, stated although they want to buy, they will never be able to afford to do so, Insurify found.

The company has enough liquidity to support its short-term real estate finance lending business without the additional funds.

Better's new COO Chad Smith, a seasoned veteran in home lending, discusses the strategies of the savviest mortgage professionals operating today and how his company is evolving in an unpredictable market.

May's falling interest rates as well as ongoing wage growth helped improve home affordability across borrowing segments and racial groups, the Mortgage Bankers Association said.

A gauge of contract signings from the National Association of Realtors decreased 2.1% to 70.8 last month, the lowest reading in data going back to 2001, the group said Thursday.

But economists seem to differ on what the latest movement in mortgage rates means for the summer home sales business.

Across the country over the past two years, the share of homes affordable to a first-time home buyer has fallen to 29% from 34% in 1Q23 and 45% in 1Q22, First American Financial said.

Almost two-thirds of those aged 55 or over said they are sentimental about the house they have occupied long-term.

Borrowers in the government-purchase market returned to the table in greater numbers, as rates declined, the Mortgage Bankers Association said.

A tough mortgage market has pushed some lenders to shed their middle management as a way to cut costs. This has ignited debate around what value regional and divisional managers bring to the table.

The increase in total home sales will be slower than prior projections and that should lead to less growth in purchase originations, Fannie Mae's June forecast said.

The overall critical defect rate trickled down to 1.53% in the fourth quarter of last year, according to Aces Quality Management.