Originations

Industry organizations indicated they want to be ready to analyze an advanced credit metric in early 3Q in line with FHFA plans, but they see some roadblocks.

Compared to a year ago, investors bought a greater number of properties and made up a larger share of overall purchases, returning to the market faster than individual buyers, according to Redfin.

Refinance activity jumped for a second week, as interest rates trended downwards, the Mortgage Bankers Association found.

The total compensation of the highest paid CEO among the largest nonbank mortgage lenders in the country was $30.3 million in 2023, up by nearly 300% versus 2022.

Coming off of what was considered a weak start to the spring season, mortgage applications for newly built homes rose 22% over the prior year, the Mortgage Bankers Association said.

The digital lender increased its marketing spend in the first quarter of 2024, with the ultimate goal of "Uber-izing the loan officer."

Rocket Mortgage entered into an agreement with the Department of Housing and Urban Development and will pay the consumers $65,000 to resolve the matter.

The digital lender also agreed with a former executive to drop her lawsuit accusing the company of misleading investors.

For the first time since the Federal Reserve started raising short-term rates two years ago, the number of home purchase mortgages locked rose on an annual basis, Optimal Blue found.

A good compensation package is a key recruitment and retention tool, but the agreements have to be sustainable to be successful.

The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.

The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.

Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.

The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.

The home purchase market right now is healthier than it was last year, said CEO Mat Ishbia, noting a 24% increase in volume over the recent period compared to Q1 2023.

A loan that combines features of buy-before-you-sell offerings and home equity solutions might be the type of financing needed for buyers to compete in current and future housing markets, Calque's founder says.

Out of the 221 metro areas tracked, 205 had existing home price increases and just 15 reported year-over-year declines, the National Association of Realtors said.

Purchases and refinances both contributed to weekly growth, with notable increases in certain government-lending segments, the Mortgage Bankers Association said.

While the company made headway in reducing operational costs, it incurred several million dollars worth of expenses as it dealt with the January incident.

Former Angel Oak Lending Chief Marketing Officer Steven Winokur has come back into the non-qualified mortgage business by taking a marketing role at Carrington Mortgage Services.