Originations

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.

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.

In Jay Farner's last earnings call as CEO, management emphasized long-term client development efforts like the forthcoming credit card program.

Financial terms were undisclosed for the most recent acquisition.

Prices nationally fell 0.3% in December from the month before, according to seasonally adjusted data from S&P CoreLogic Case-Shiller.  

While it isn't a partnership between the firms, Amazon Web Services powers the loan origination system for the lender, which has funded over $1 billion in mortgage volume with the online retail giant's workers.

The share of all-cash deals rose to the highest since 2013 last year, while institutional investors, who usually account for many cash sales, retreated, according to data from real estate data analytics firm Attom. That suggests more regular buyers turned to self funding to dodge punishing mortgage rates.