Originations

Overall mortgage volumes flattened last week, but average loan amounts, particularly for purchases, are shrinking according to the Mortgage Bankers Association.

The partnership, which is expected to ease lending for bank statement loans, comes as the non-QM sector runs into headwinds.

The transaction formalizes the relationship started by a January investment in both companies by LLR Partners.

High mortgage rates and high prices are starting to slow down the market. Still, tight inventory is keeping values high.

The median prices for the most sought-after metro areas were on average $128,000 lower than in the city the buyer was leaving, Freddie Mac's study of Loan Product Advisor data found.

Also: UWM offers deep discounts, no fix in Congress for flood insurance program, home flipping profits decline

UpEquity reportedly saw its growth projections decimated by the cooling refinance market and terminated positions in anticipation of a tepid fundraising environment.

For the 10th consecutive week, the brokerage’s Demand Index declined, this time by the largest share in over two years.

The new product is an extension of its FraudGuard offering for the first lien mortgage market.

This latest campaign comes as application volume is down by 53% from a year ago, while mortgage rates are 2.59 percentage points higher since the start of 2022.