Originations

And having a paperless process was an important reason for many in picking their originator, the National Survey of Mortgage Originations found.

Raising the threshold for qualification for Home Ready and Home Possible, which additionally offer price breaks to lenders, could do more to make homeownership more equitable, the Mortgage Bankers Association wrote in a letter to the Federal Housing Finance Agency.

Borrowers' affordability concerns drove activity lower than normal seasonality in November would indicate, Black Knight said.

The cut occurred across departments and included the dismissal of the company's head of mortgage.

But that's largely because homes are staying on the market longer — almost three weeks more than in early summer on average.

The depository joins other mortgage players small and large in exiting the space amid the market's significantly reduced activity.

Following peaking at 7.08% on Nov. 10, the 30-year fixed has come down three-quarters of a percentage point, Freddie Mac said.

Lenders added jumbo and adjustable rate mortgage products during November, both of which have had lower interest rates than conforming loans, the Mortgage Bankers Association said.

The deal will close for $10 million in cash, plus the right to purchase nearly 33.9 million shares of common stock.

Shares picked up across all federal categories last week, but overall application volumes fell, dragged down by a cooling conventional purchase market, according to the Mortgage Bankers Association.

The seed round was led by Conversion Capital and also includes backing from Blend, Zillow and Figure.

But they will start increasing again by next October, according to a forecast by CoreLogic.

Home prices dropped again on a monthly basis in October, exacerbating the loss in home equity among recent buyers, but the size of the falloff was the smallest since June.

A potential borrower should have a credit decision in the "matter of one minute," the lender said.

The range in the size of mortgages to be insured by the agency in 2023 runs between $472,030 to $1,089,300, while maximum claims on HECMs will similarly increase.

On Nov. 29, Inlanta notified state officials it was terminating 62 employees contingent on its acquisition by a then-unnamed third party.

The deal creates a secondary market and securitization outlet for the Ohio-based lender, which reportedly is the buyer of Angel Oak Home Loans.

The benchmark 10-year Treasury in particular tumbled 11 basis points between Wednesday's close and Thursday's open.

The layoffs at the lender's Houston, Texas headquarters caught many by surprise as upper management informed employees in October that they had enough resources to weather the market conditions.

The company had been the fifth most active Home Equity Conversion Mortgage originator year-to-date through October.