Originations

The share of consumers worried about potential job loss spiked to its highest point in 12 months, leading to a downturn in outlook, according to Fannie Mae.

The announcement came as a Federal Trade Commission suit to halt the deal became more likely.

The new special purpose credit program is part of efforts to reduce the racial gap in homeownership and offers assistance to borrowers who meet certain income and location requirements.

A legal filing could come as soon as Thursday, sources close to the matter claimed.

Even with the government-sponsored enterprise's statement that full appraisals are no longer required to prove value, industry participants say they will remain a tool for lenders to use when needed.

Lenders have focused on front-end cost differences since key secondary market players opened up the option, but what happens when a problem emerges down the road is worth weighing too.

A likely recession will only further the six active players' conservatism in their capital strategies, Fitch Ratings said.

The CFPB is requesting input on adding specifications that are intended to alleviate TRID compliance concerns on construction-to-permanent single-close loans and those requiring separate construction and home loan closings.

Brett Dillenberg oversees six branches previously under the umbrella of LendUS that were acquired by the Ohio-based lender last year.

In the four weeks through Feb. 26, the median price for a typical home was $350,246, down 0.6% from the same period a year earlier, the brokerage said Thursday.