Originations

The firm will turn its focus toward its commercial, home improvement and reverse lending platforms along with portfolio management and other lender services.

The mortgage subsidiary of PlainsCapital Bank also said it had reduced its headcount by 23% in the past year.

The transaction allows for portfolio defense as well as supporting Marlin's move into Ginnie Mae servicing.

But a cooling housing market opened up buying opportunities for some and helped drive the share of FHA-backed purchases upward for the first time in a year, according to new Attom research.

The companies formed a partnership in 2019, in which the lender would handle mortgage processing, underwriting and closing for the digital-only bank.

However, the benchmark 10-year Treasury has been above 4% on a sustained basis for most of the prior week, gaining 18 bps, an indication of future increases for home loans.

The Community Home Lenders of America's latest report finds that independent mortgage banks picked up the slack as many large banks abandoned mortgage lending or imposed credit overlays, two of its members say.

Close to 60,000 home-purchase agreements were canceled in September

Approximately two years after Fannie Mae and Freddie Mac stopped accepting the troubled index, the government agency is looking to approve the Structured Overnight Financing Rate for adjustable rate mortgages.

Higher interest rates are driving borrowers to adjustable-rate loans, which saw close to a 13% share in weekly activity, the highest since 2008.

New U.S. home construction declined in September and permit applications for single-family dwellings fell, adding to evidence that the highest mortgage rates in two decades are sapping demand and discouraging new builds.

The new product will be based on a recent revision to the Department of Veterans Affairs' handbook for lenders, according to the company.

The agency is currently using upper ceilings set in the Housing and Economic Recovery Act of 2008.

Urban Institute research backed by the Federal Home Loan Bank of San Francisco suggests using rent and utility reporting for this purpose is complicated but has a net benefit.

The development, touted as an industry-first, is the latest move by the government-sponsored enterprises to expand housing opportunities for first-time and underserved homebuyers.

New-home mortgage applications fell 13.2% on an annual basis, while average purchase sizes declined for the fifth straight month.

Quarterly numbers also show the smallest gain in appreciation since 2011, with values decreasing on an unadjusted basis, according to Fannie Mae.

The Detroit-based lender said the program will "accelerate loan purchases" and "eliminate significant costs" for its partners

While loan consolidation is a priority for many who consider home-equity products, a third of those with other debts aren't comfortable taking out a second lien on their homes.

The introduction of utility, cable and telco payment information follows noticeable growth in the past year toward the inclusion of rental history in underwriting.