Originations

Adjustable-rate mortgages nabbed their largest share of activity in almost a year, as the 30-year conforming average inched closer to 8%, the Mortgage Bankers Association said.

But the industry will still have to go through some pain in 2024, Wharton Professor Susan Wachter told attendees at the Mortgage Bankers Association annual convention.

Paul Hindman, industry veteran and recruiter, recommends for top executives to be "be humble, quick and over-communicate."

Expected income earned through rental of the units will be considered in underwriting for FHA-backed mortgages and rehabilitation loans.

While the latest change applies specifically to COVID forbearances, the agency is looking at more options for alternatives that can be offered on a regular basis, Director Sandra Thompson said.

While great progress has been made towards the goal of reducing capacity by 30%, job reductions should continue for several more quarters.

The government-related loan buyer also is looking into whether there are ways to offer options other than buybacks in some instances, said Senior Vice President Sonu Mittal, head of single-family acquisitions.

When loan officers have a broad, problem-solving focus — bolstered by diverse services, technologies and consistent attention to detail — their pipelines grow, writes the president of Incenter Lender Services.

Property owners willing to restrict rental income will qualify for the terms of this new product originated by Delegated Underwriting and Servicing mortgage bankers.

But even as housing costs slowed on a quarterly basis, they still came in 5.3% higher than a year ago, according to Fannie Mae's Home Price Index.