Originations

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.

Product availability for July remained at levels last seen in 2013 as rates briefly broke above the 7% mark during the month, the Mortgage Bankers Association said.

The Agency, a brokerage with a leading role in a Netflix show, names New American Funding their preferred mortgage provider, stripping that title away from CrossCountry Mortgage.

The cohort is outperforming the broader market — up more than 50% year-to-date versus the S&P 500's 18% gain. 

Denver-based Proprietary Capital, who offers a platform for institutional investors seeking returns from mortgage-related assets, agreed to purchase the New Jersey-based lender as it seeks to increase the number of opportunities it offers.

The real estate investment trust declined to comment on its bid to buy Western Asset Mortgage Capital, a company that received a sweetened competing offer from Terra Property Trust last week.

Negotiations are ongoing, but the legal move ends the restraining order trial in federal court scheduled for Aug. 14.

Radian and MGIC grabbed a larger portion of new insurance written during the period while maintaining pricing discipline.

The new technology expands the capabilities of automation used to obtain digital transcript information from self-employed borrowers.

Nonbank brokers and lenders typically scale back after the spring homebuying season and the housing market could be particularly slow for the rest of this year.

The turnaround was due to a $42 million positive servicing mark. Even with the operating loss, it beat estimates.

The mortgage shop's net income was $36.9 million in the second quarter, up from a net loss of $37.2 million in the first three months of the year.

Government lender Plaza Home Mortgage, non-owner occupied originator Constructive Capital are seeing success in the changing environment, helped by their respective business models.

Active listings fell in July on an annual basis, while median home prices also showed signs of a downward trend, according to new data from Realtor.com.

But a Zillow economist argues that there's plenty of evidence suggesting strong GDP and job growth had more to do with the increase than what Fitch did.

Volumes were driven down largely by slowing conventional purchase activity resulting from ongoing interest rate and affordability challenges, the Mortgage Bankers Association said.

Values are very likely to dip in the metros considered among the most desirable during the pandemic.