Originations

Freedom Mortgage and UWM are looking to beef up their headcount, as the Fed signals interest rates will drop.

Recent pullbacks in interest rates have lowered monthly payments, but amounts needed still make home buying unaffordable by most standards, according to new reports.

Rates that have been below 7% for two consecutive weeks have given originators a gift at what's typically a slow time of year, Freddie Mac said.

The effects of expected lower mortgage interest rates are boosting a lot of different facets of the housing market.

With a tough winter predicted for lenders, servicers may struggle making timely principal and interest payments to investors, industry stakeholders warn.

Indicators are starting to align, that with falling interest rates and prices, buyers and sellers will return to the housing market in 2024, a trio of interested parties commented.

Activity fell despite an ongoing slide in rates, but elevated interest in VA loans, particularly refinances, managed to lift the government-sponsored index higher by a fraction, the Mortgage Bankers Association said.

Contract closings increased 0.8% from a month earlier to a 3.82 million annualized rate, according to the National Association of Realtors, and ahead of estimates of 3.78 million units.

The outstanding amount that people ages 62 and up hold represented a nearly $15.4 billion gain in property value offset by a record $2.32 billion in borrowing.

Loans for new homes are up 22% while overall purchase volume is down 20%, the Mortgage Bankers Association found.

Construction of single-family houses jumped 18% to the highest level since April 2022, while starts of multifamily projects increased 6.9%.

Relying on hope, as implied in the "survive until '25" slogan, is not a business strategy that will get a company through the year.

The lawsuit accuses Navy Federal of violating the Fair Housing Act and the Equal Credit Opportunity Act after a CNN report that the lender approved a lower percentage of Black and Latino mortgage applicants.

The Consumer Financial Protection Bureau is appealing a lower court ruling that the agency exceeded its authority in bringing an anti-discrimination enforcement action against a Chicago mortgage lender after he made disparaging remarks about Blacks and Hispanics.

The enterprise is now calling for a recession to start in the second quarter of next year, with negative growth expected for the full year.

The warning follows a period in which its stock traded below a certain threshold. The company can stay listed and plans to ask for time to regain compliance.

Trigger leads may take a back seat to other priorities near term but growing support in both chambers for these types of bills suggests the issue has momentum.

Short-term rates may fall but the Fed's quantitative tightening, which tends to pressure financing costs for most mortgages, persists. Here the net impact.

Both companies have been at the center of other M&A transactions over the past two years, as each looked to expand their national footprint.

The Fed's announcement is responsible for a 19 basis point drop in the 10-year yield over a two-day period, pushing the 30-year fixed under 7% for the first time since August, Freddie Mac said.