Originations

The share of borrowers who owe no more than half of the property's market value increased to 48.5% last quarter, according to Attom, a real estate data firm.

A typical entry-level purchaser was 36 this year, three years older than in 2021, data from the National Association of Realtors released Thursday showed.

These associations contribute some relatively affordable housing to a pricey market, but key mortgage stakeholders have tightened criteria in the wake of a building collapse that highlighted the sector's particular risks.

Servicing numbers propelled the REIT to the positive third-quarter result, while the company also announced it had acquired a stake in a commercial real estate investment firm.

The 60-person group, headed by Marc Wadman, originates loans in Colorado, Georgia, Kansas, Louisiana, Missouri, South Carolina and Texas.

High interest rates and affordability concerns continue to suppress purchase demand, though, leading overall numbers down again last week, the Mortgage Bankers Association reported.

Rocket Rewards is the latest marketing initiative from the mortgage giant following the introduction of home equity loans and a monthly payment reduction offer earlier this year.

The company, which evolved into a refinance-focused call center after a disastrous move into reverse mortgages, reportedly informed employees of the closure on Oct. 14.

That amount of consolidation would be a leap from the previous three-decade high of 33 in 2018, according to Stratmor.