Originations

Reverse mortgage lender Finance of America posted a quarterly profit to end 2023, as it completed post-merger integrations and faced warnings of delisting from the New York Stock Exchange.

Activity increased for both purchases and refinances, as well as for both conventional and government lending, the Mortgage Bankers Association said.

With between 100 and 499 employees, these home finance companies are celebrated for supporting staff through solid communication and opportunities for personal development.

With 99 or fewer employees, these home finance companies are celebrated for supporting staff through solid communication and opportunities for personal development.

More than 55% of all purchase loans included in agency and government transactions were given to people who had not previously owned their residence, Intercontinental Exchange said.

While a Fannie Mae study confirms that the vast majority want to age in place, people 60 and older don't want to use their residence as a piggy bank.

The income needed to comfortably afford a home in the US has leapt 80% since 2020, far exceeding a 23% increase in median income over the same period, according to a post on Thursday by Zillow.

The latest inflation news has created concern that the Federal Reserve's pivot on short-term rates could be delayed.

The program sponsors licenses for real estate agents, insurance professionals and others to help buyers obtain mortgages.

Nearly half of sellers and buyers in a recent LendingTree survey said they didn't know what commission percentage their agent received in their most recent transaction.

The company originated more loans to buy homes than Detroit-area rival No. 2 Rocket did in total during the fourth quarter.

Loan volumes fell for the third straight week, with depressed demand for government lending driving activity downward, the Mortgage Bankers Association said.

Cardinal Financial's utilization of the FICO alternative credit metric could help pave the way for broader use as Fannie Mae and Freddie Mac move to adopt it.

Prices nationally rose 5.5% from a year earlier, according to data from S&P CoreLogic Case-Shiller.

The top five lenders have an average mortgage origination volume of more than $7.4 billion.

While mortgage volume should rise this year, the government-sponsored enterprise expects slightly less activity than it did back in January.

Despite limited inventory and rising prices, buying interest appears robust heading into peak season, but lenders are likely to find a more discerning consumer.

Across the nation, over 700,000 Black families are "income mortgage-ready," or able to spend 30% or less of their income on a home loan for the typical house in their local market.

The megalender and servicer Rocket reported annual origination volume in 2023 of $78.7 billion, a 40% decline from 2022.

The 30-year average rate got closer to 7% as central bank officials dashed near-term hopes of a cut, according to Freddie Mac.