Originations

Proceeds could be used to support the company's loan originations as well pay down existing debt coming due in the next three years.

From updates in mortgage-related court cases, to developments in AI and policy, here are the most-read stories from National Mortgage News over the past week.

Borrowers still sought opportunities in the homebuilder market with activity trending upward for over a year, even as existing inventory showed signs of expanding.

Markets appeared to welcome signs of future rate relief, with the latest Freddie Mac average falling for the fifth time in six weeks.

But despite increasing anxiety over rising costs, an overall majority of consumers also express optimism about their own improving financial prospects in the upcoming year, according to Transunion.

Homeowners responded to moderating interest rates and brought in significantly more refinance volume, with Department of Veterans Affairs numbers more than doubling from the prior week.

Lenders need to look at both data and algorithms to avoid inadvertent redlining complaints, not just in decision making but customer contact too.

The Federal Deposit Insurance Corp. sued 15 lenders on loans brokered through Washington Mutual that were included in securitizations before the bank's 2008 failure.

The instant buying platform has been hit hard by the market's slowdown and sold 847 homes in the first quarter, down 47% from the same time last year.

The department will continue to monitor developments from a recent court settlement as it considers future rulemaking.

Amid industry challenges, borrow a page from the playbooks of these industry leaders as they strategize around new roadblocks and look for fresh opportunities.

Rate locks have increased every month this year, but May's pace came in more subdued than early-year numbers, according to Mortgage Capital Trading.

The position had been occupied by Scott Smith on an interim basis following Black Knight's sale of the company to Constellation Software.

A Fannie Mae survey-high 86% of prospective buyers said it was a bad time to buy a home in May.

In the first quarter of the fiscal year, many mortgage-related companies posted profits after a year-end that didn't exceed expectations. Here's how major publicly traded players in the industry performed in the first quarter.

The 30-year fixed-rate mortgage average dropped back below the 7% level as investors reacted positively to news the economy is slowing, Freddie Mac said.

The deal is expected to open up "substantial funding capacity" for Los Angeles-based BARH Dunmore, which launched in 2021.

The company foresees a dampened mortgage originations market through 2026, as last year's trends continue to have an impact on housing.

Staffing cuts affected employees in the reverse-mortgage lender's retail and corporate units, the company confirmed.

Besides allegations of trade secret theft, HMAC is accusing rival OCMBC and Michael Turturro of stealing the branding around its Jet Mortgage division.