Originations

Community Financial Credit Union is partnering with the hosts of "Bargain Block" to renovate low-cost homes and help prospective buyers qualify for their first mortgage.

But the company expects positive margins in the first quarter from Bay Equity Home Loans and increased cross-sell capture from real estate agents.

Single-family property sales ran at a seasonally adjusted annual rate of 725,000 units last month, a 13.1% increase from December.

The lender paid workers in commissions, and failed to provide a minimum wage over pay periods in which no loans were originated, counsel alleges.

Despite slowing originations, the shift to a purchase-oriented market contributed to growth, while outstanding HELOC amounts also surged to its largest in over a decade, the Federal Reserve Bank of New York found.

Investors are concerned that the Fed could raise rates 50 basis points at its next meeting and are pricing that risk into the 10-year Treasury.

Many players in the segment appear to be holding back on plans amid concerns about falling prices and rents, according to Redfin.

All six companies were profitable in the fourth quarter and the full year, but had far less new volume than in 2021.

Average purchase sizes have increased each week this year, likely signaling greater buyer activity occurring toward the higher end of the market.

The increase in sentiment to a five-month high was fueled by more optimism about sales, the outlook and a pickup in prospective-buyer traffic.