Originations

Average purchase sizes have also fallen by almost 11% after reaching a record high this spring.

With tight inventory and rising rates posing challenges to today's home buyers, mortgage lenders face a tricky environment for maintaining volumes. National Mortgage News chats with three of the top-ranked producers of 2022 to discuss strategies to stay competitive in the months ahead.

Alternative data verifications used in non-qualified mortgage underwriting have increasingly been used by government-sponsored enterprises in response to expansive Biden-era housing goals, volatile rates and evolving technology.

While housing costs were still up nationwide, Pacific states saw the most rapid pace of moderation on an annual basis, a Federal Housing Finance Agency study found.

The Seattle-based bank underestimated single-family loan declines in the larger market but was able to improve margins slightly with cost-cutting and by diversifying with a shift toward apartment lending.

AmTrust Title agreed to pay a $1.25 million fine and cooperate with Attorney General Letitia James' investigation into the title insurance industry.

Mortgage lenders are increasingly relying on third-party data to determine the amount of incentive to offer.

Earnings posted by the two bank holding companies show increased production on a quarter-to-quarter basis, although gain on sale sank at both.

But the Mortgage Bankers Association still expects the dollar volume of purchase originations to increase from 2022 to 2024 compared with 2021.

The current 30-year rate is now nearly double its average from a year ago.