Originations

Mortgage payments are claiming a bigger chunk of incomes for U.S. homebuyers, who also have to contend with quickly rising prices.

Nearly two-thirds were willing to make an offer within three days of viewing a house; 20% stated they would do so on the same day.

The trend is fueled in part by historic homebuyer affordability challenges and rising interest rates.

Some lenders and their parent companies are reconsidering their loan-channel mix and business lines as refinance volumes fall and margins shrink; others are doubling down.

United Wholesale CEO Mat Ishbia criticized his Detroit mortgage rival for recent job cut announcements in a post that has generated hundreds of responses.

The Mortgage Bankers Association's Purchase Applications Payment Index reached a high in March, a consequence of rising prices and interest rates.

Improved loan performance, a credit reserve release, higher g-fees and reduced portfolio runoff helped to offset declining single-family loan purchases.

The move by Self Financial could add momentum to recent efforts in this areas by influential mortgage-market participants like Fannie Mae and Freddie Mac.

The firm's merger with a special purpose acquisition corporation is expected to be completed this quarter, according to financial filings.

Surging interest rates have pushed refinance applications down by over 70% in a year, while ARMs have doubled their share in three months.