Originations

The past year was noteworthy for many reasons — and within the mortgage industry, some might even argue that 2021 was even more momentous than the 12 months preceding it. What all can agree on, though, is that the ongoing pandemic continued to reshape the lending landscape. As 2022 approaches, we look back on a few of this year’s running themes.

The lender’s controversial leader Vishal Garg will remain on break but retain his post after disparaging laid-off employees, Aurora Acquisition Corp. confirmed in a Securities and Exchange Commission filing.

In October, those factors outweighed a smaller rise in annual wage growth, and the gap will keep widening, according to a new First American Real House Price Index report.

The average 30-year rate dropped seven basis points to 3.05%.

While 2021 projections are unchanged from November, they are 2% higher than what the organization's economic forecast in October.

Rising Covid-19 cases in the U.S. and overseas could create supply chain and labor headwinds in the coming months, slowing construction and leading to further inventory shortages.

In four of the six periods in the last 30 years where mortgage rates increased significantly, sales also grew, First American said.

While the overall number of applications dropped last week, average mortgage sizes shot up across all categories.

The government-sponsored enterprise has 45 days to submit a plan on how it intends to meet the increased target for 2022 through 2024.