Originations

Lenders reduced refinance and jumbo programs on their product menus as interest rates continued to rise in May, the Mortgage Bankers Association said.

Equitable housing initiatives the government–sponsored enterprises detailed Wednesday will rely on mortgage company uptake of experimental underwriting strategies.

Fannie Mae and Freddie Mac asked originators to resubmit applications that contained errors and adjust sold mortgage information due to incorrect life-of-loan representations and warranties.

Elevated prices coupled with higher mortgage rates are leading to affordability challenges that have reduced borrowing volumes.

If lenders can “divert” consumers’ attention at the right moment on their journey and invest in the appropriate places to ensure ROI — placing themselves front and center as the best choice over a competitor’s — they significantly increase their chances of closing a sale, writes the co-founder of Konnecto.

Recent data from several organizations further highlights affordability challenges and souring consumer sentiment, while a growing number of economists think the market has peaked.

Delays in closing the deal after it was announced in August resulted in the parties' decision to remain separate, although they will still work together.

While the appeal of homeownership and larger spaces led property values in many fire-prone regions to surge to new records, those areas are also seeing more frequent price drops, Redfin says.

A Salem, Massachusetts, man was found guilty by a federal jury in Boston of a scheme that led to more than $3.8 million in losses to lenders, the U.S. Attorney's Office announced.