Originations

The average purchase loan amount rose as a brief increase in demand for government-sponsored loan programs cooled.

However, a lower share of applications were rejected for Blacks, Hispanics and Asians, while whites had the smallest percentage change, a Consumer Financial Protection Bureau report said.

While several single-family indicators rose compared with July, homebuilder authorizations for new construction continued to lag.

Because the co-buyers own 100% of the property jointly, Pairadime is different than equity sharing firms like EquiFi, Hometap and Unison, which take a stake in the property in exchange for funds.

August's 0.3% drop in prices from July was the largest in 11 years, according to the raw Zillow Home Value Index.

The one-percentage-point reduction will be funded in the direct-to-consumer channel . through a Rocket escrow account

A piece of legislation cleared the House this week that would allow for so-called "desktop appraisals" on properties financed by government-backed veteran loans.

The option can be efficient but companies have to figure out who will handle the additional property data collection, panelists at the Digital Mortgage Conference said.

The average accepted offer was one percentage point lower than the listing price, a Remax study found.

Some predict that by the middle of next year, the 30-year fixed could be priced 150 basis points lower.

Waivers boomed during the pandemic's refi wave and the recent automation of desktop appraisals have provided additional flexibilities, but their applications are limited in the current market.

Both the 30- and 15-year averages are now more than 3 percentage points higher from their levels of one year ago.

Since signing those nonbanks in the second quarter, the program has added more than two dozen originators, including Gulf Coast Educators FCU.

Lenders — all of a sudden — are competing for homebuyers' business, a silver lining in what is becoming a more unaffordable housing market.

Rocket made waves in 2016 when it promoted its online streamlined application process during Super Bowl 50. This now takes the process to the other end.

Applications for these federal-backed loans headed upward after the Labor Day holiday but were offset by slowing conventional activity, sending overall volumes down for a fifth consecutive week, according to the Mortgage Bankers Association.

All-in-one platforms aim to take multiple tasks out of the hands of borrowers but having a narrow focus and creating strategic technology partnerships are the stronger options.

The quartet of trade groups sent a letter to National Economic Council Direct Brian Deese seeking its support for an action many have been expecting since Pres. Biden's inauguration.

Lenders are eliminating what they consider to be riskier loans from their offerings, the Mortgage Bankers Association said.

Payments increase 5% in each of the first five years of the mortgage, with the unpaid interest from that period added to the principal.