Originations

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.

Equitable housing initiatives the government–sponsored enterprises detailed Wednesday will rely on mortgage company uptake of experimental underwriting strategies.

Fannie Mae and Freddie Mac asked originators to resubmit applications that contained errors and adjust sold mortgage information due to incorrect life-of-loan representations and warranties.

Elevated prices coupled with higher mortgage rates are leading to affordability challenges that have reduced borrowing volumes.

If lenders can “divert” consumers’ attention at the right moment on their journey and invest in the appropriate places to ensure ROI — placing themselves front and center as the best choice over a competitor’s — they significantly increase their chances of closing a sale, writes the co-founder of Konnecto.

Recent data from several organizations further highlights affordability challenges and souring consumer sentiment, while a growing number of economists think the market has peaked.

Delays in closing the deal after it was announced in August resulted in the parties' decision to remain separate, although they will still work together.

While the appeal of homeownership and larger spaces led property values in many fire-prone regions to surge to new records, those areas are also seeing more frequent price drops, Redfin says.

A Salem, Massachusetts, man was found guilty by a federal jury in Boston of a scheme that led to more than $3.8 million in losses to lenders, the U.S. Attorney's Office announced.

But several companies have cuts pending, and overall employment remains strong enough to keep putting some upward pressure on rates.

The inventory shortage is beginning to ease, while demand is slowing due to high prices and rising mortgage rates.