Originations

The bank began trimming its payroll after a dismal first-quarter origination performance. It will announce second-quarter results next week.

Capital adequacy at the four largest underwriters remained strong at the end of 2021 even with a slight decline from the prior year, Fitch Ratings said.

Average purchase-loan amounts shrank for the second week in a row and are currently 12% below their record size in March.

But second home sales — which were below pre-pandemic levels for the first time in 24 months during May — may slow in the future as those in vulnerable areas get tougher to insure.

Even with another annual surge of over 20%, the pace of home-price growth eased in May and experts anticipate even further moderation over the next year.

And in other consolidation news, HomeServices of America’s Pickford Escrow Co. picks up competitor Legendary Escrow Services.

The transaction adds 11 branches in Virginia, Florida, North Carolina and Texas to AnnieMac's nationwide 60-plus office network.

While those born between 1946 and 1964 have largely chosen to age in place, their eventual home downsizing or passing is not likely to result in a large burst of inventory entering the market, according to a report from the MBA's Research Institute for Housing America.

The 30-year average dropped for the first time in four weeks after surging more than 70 basis points earlier in the month.

Climate change is increasing the frequency of wildfires, hurricanes and severe winter storms; yet in areas most vulnerable to them, property value growth exceeds the national average, a new report finds.