Originations

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.

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.

Almost 9% of transactions also involved closing agents with inadequate insurance levels, the highest share on record, according to FundingShield.

Designated mortgage professionals who can work in community outreach as well as regular monitoring of program outcomes are also important components that will help programs meet goals, industry leaders say.

The average interest rate for the 30-year loan rose for the fifth consecutive week, according to Freddie Mac, but Treasury yields did move lower.

Ishbia, chief executive officer of mortgage giant UWM Holdings Corp., in February completed the $2.28 billion purchase of a 57% controlling stake in the National Basketball Association's Suns and the WNBA's Mercury, a deal that valued the teams at $4 billion.

Proceeds from the sale of assets to Oaktree Funding would be used to pay off debt to warehouse lenders

As housing-industry groups sought relief from the Federal Reserve, overall loan-application volumes eked out a weekly gain last week thanks to ARM activity, the Mortgage Bankers Association said.