Originations

Alternative data verifications used in non-qualified mortgage underwriting have increasingly been used by government-sponsored enterprises in response to expansive Biden-era housing goals, volatile rates and evolving technology.

While housing costs were still up nationwide, Pacific states saw the most rapid pace of moderation on an annual basis, a Federal Housing Finance Agency study found.

The Seattle-based bank underestimated single-family loan declines in the larger market but was able to improve margins slightly with cost-cutting and by diversifying with a shift toward apartment lending.

AmTrust Title agreed to pay a $1.25 million fine and cooperate with Attorney General Letitia James' investigation into the title insurance industry.

Mortgage lenders are increasingly relying on third-party data to determine the amount of incentive to offer.

Earnings posted by the two bank holding companies show increased production on a quarter-to-quarter basis, although gain on sale sank at both.

But the Mortgage Bankers Association still expects the dollar volume of purchase originations to increase from 2022 to 2024 compared with 2021.

The current 30-year rate is now nearly double its average from a year ago.

In a market dominated by sky-high home prices, sellers looking to take the path of least resistance may be overlooking DPA borrowers.

Purchases and refinances both came in lower, with overall volumes 60% below numbers from a year ago.

Others in the mortgage industry have been known to take a page from the company’s innovative digital strategies, but using Truebill’s tech as a countercyclical strategy for recurring revenue and lead generation may be too pricey for most lenders to imitate.

New single-family home mortgage applications, housing starts and industry sentiment all came in at their lowest since 2020.

The Fed's tests have become a menacing countercyclical force that could further drive down liquidity in the mortgage market over the next year, the chairman of Whalen Global Advisors writes.

Home sales were down by 17% in June, while inventory increased over 27%, compared to numbers from one year ago, according to Remax.

If a reduction was critical at a time when interest rates were at record lows, it has become more imperative as affordability wanes, the Community Mortgage Lenders Association argues.

These results are likely to be mirrored by the nonbank lenders when they report earnings, said Keefe, Bruyette & Woods.

Both the 203(k) and Title 1 programs have not gotten attention by the agency for quite some time, senior officials admitted during a briefing.

The embattled mortgage business cut approximately 72% of its workforce over a six-month period, according to a Securities and Exchange Commission filing.

Following their largest drop in over a decade one week ago, averages rapidly swung upward as recession talk receded.

With rising interest rates and lower affordability, the velocity of value increases is likely to decelerate further in coming months, Fannie Mae said.