Originations

The market for new homes has broadly held firm in the face of decades-high mortgage rates and elevated housing prices.

Until now, National MI and Essent did not have direct ties with the legacy platform, although they are already on the newer enterprise loan origination system.

The company's builder and mortgage banking segments both ended up in the black, as sales for new constructions outperform the existing-home market.

The loan, dubbed Homesafe Second, will allow borrowers 55 and older to tap their home equity via a second mortgage.

By the end of this year, origination volume at HFAs will come in at approximately $29 billion, close to pre-pandemic levels, according to a new Moody's report.

Households shelled out 5% more to upgrade their properties compared to a year ago, but volume will decline by almost 8% over the next 12 months, according to Harvard researchers.

Unlike some banks that reported earlier, the subsidiary of PlainsCapital Bank saw its gain on sale decrease from the second quarter.

The Fed's higher for longer statements have pushed up the 10-year Treasury in recent weeks to levels last seen in 2007 and that is affecting pricing.

American Bank of Oklahoma agreed to a consent order in August to settle allegations from the Department of Justice over redlining. However, the institution strenuously objected to references to the Tulsa Race Massacre in the agreement and asked that the language be stricken.

How far have these programs come in reaching their goals and how much further do they need to go?

The partner unit of the German software firm will offer its cloud-based lending platform to a range of financial businesses, partnering with Blue Sage and Ranieri Solutions for origination and servicing capabilities.

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.