Originations

The proposal is out for comment through May 1, and the initial mortgage lender reaction is that the measure could be helpful with remote work and budgeting.

Purchase and refinance mortgages continued their slide as total origination volume was $475.5 billion during the final months of 2022, down 56% from the end of 2021.

The increase reflects the rise in the 10-year Treasury yield, which is back above 4% for the first time since that month.

The ownership rate among the group rose 4 percentage points in ten years to top 50%, according to a report by the National Association of Realtors.

The business is heavily reliant on mortgage originations and some participants are turning to other sources of income to bolster results.

The price tag for the Colorado-based lender was a "low seven-figure number," its CEO said.

CEO Mat Ishbia touted his firm's competitive pricing strategy as the reason why the company has remained stable against major setbacks and losses at competitors like Wells Fargo and Rocket Mortgage.

Currently, 43 states and the District of Columbia have laws allowing and recognizing RONs, but California has voiced strong opposition to any national legislation

A week after it dropped to a 28-year low, purchase activity decreased again by over 5%, according to the Mortgage Bankers Association.