Originations

Industry executives coming off a tough year are wondering what the transition will cost and how many borrowers it'll bring in.

With prices continuing to increase and the conforming 30-year mortgage rising above 7% in July, the purchase market is in a holding pattern, Black Knight said.

This first step in updating borrower assessments was seen as the easiest and could reduce costs, but stakeholders fear change that reduces data inputs.

The privately held company added a retail branch network and a $10 billion servicing portfolio — and is looking for more.

The markets had a full week to absorb Fitch Ratings' U.S. downgrade, but today's inflation news could cause some near-term volatility.

Volumes dropped below 900,000 in the first three months this year, while the cumulative loan balance nationwide also declined on a quarterly basis for the first time since 2015.

While policymakers have warned lenders they will be on the lookout for potential fair lending violations, the lack of current rules means many companies are trying to determine best practices on their own.

But its operating income missed estimates with servicing income and gain-on-sale margins coming in lower than expected.

The lender and servicer posted its highest pull-through weighted gain-on-sale margin in almost two years while recording modest production growth.

The news helped drive 30-year mortgage averages above 7% last week, according to the Mortgage Bankers Association.