Originations

The mortgage company had experimented with a piggyback product just before the pandemic disrupted the market, and it’s bringing the second-lien portion back as a standalone offering.

These transactions look to add territories or products to counter the effects of origination activity contracting.

The latest Federal Reserve move to combat inflation led to a weekly increase of more than 50 basis points.

The all-stock deal follows a boom in demand for interim financing on purchases, which HomeLight had been looking to offer on a larger scale.

Lumber prices have wavered, but gypsum, steel and transportation were still on the rise in the past month, according to a National Association of Home Builders analysis.

The government-sponsored enterprises' new Refinance Application Level Index pulls Desktop Underwriter data in order to give lenders and mortgage-backed securities investors insight into prepayment trends.

Smaller average purchase-loan sizes, which contracted by almost 2%, point to potential signs of diminishing enthusiasm among homebuyers.

The bank in a new filing claims some litigants didn’t apply for the refinances at the center of the complaint.

Direct-to-consumer may not fare as well going forward if a purchase market prevails, and some cross-pollination between depositories and nonbanks could occur.

Banks and non-banks can identify home sales from both current borrowers and prospective buyers who have previously applied for loans, and can find home equity line of credit candidates.

The lender also announced its acquisition of Florida-based Hamilton Home Loans, which will operate as a new division within the company.

New-home borrowers eyeing things like rising commuting costs could add at-home amenities instead so long as they remain relatively affordable, one take on a National Association of Home Builders report suggests.

While rate and term refinancings had the largest drop in volume, credit scores for cash-outs are 33 points lower than one year prior, indicating that these borrowers need financial liquidity, a Black Knight report found.

Seven towns had home values worth $150K more than properties within nearby cities.

Volumes generated for the home equity product increased by 28% over the past year, showing particular strength in Western markets.

But it's far too early to declare the market to be down and out, especially as employment stays strong and mortgage rates stabilize.

A positive employment report, robust consumer spending and Fed comments on inflation counter measures drove rates upward.

Hybrid work has led to an increase in purchasing a second home in more scenic, family-friendly areas in addition to smaller, closer homes by the office.

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