Originations

In the agreement, the bank denied allegations that it refused to issue a mortgage until one of the applicants returned to work from maternity leave.

Economists have largely slashed mortgage forecasts for 2022, but only the government-sponsored enterprise expects lower purchase volume for 2023, citing the likelihood of a downturn.

The company is blaming anticipated declines in origination volume for its latest cuts.

The business opportunity comes at a time when lenders are looking to save money because of tightening margins.

Researchers at the government-sponsored enterprise noted the role rising rates are playing in increasing housing costs in its report, now offered publicly for the first time.

Different loan options to traditional mortgages can be costlier, lack consumer protections and leave debtors at risk of ownership disputes and loss of home equity.

The industry trade group warns that attorney opinion letters may introduce additional risk, but vendors offering them said their products can sufficiently protect ownership of mortgaged properties at a lower price.

Servicing gains failed to offset steep origination declines at the bank, which continues to battle allegations of racial discrimination.

But current economic and geopolitical tensions and the shift to a purchase market means lenders should remain vigilant, Ace Quality Management warned.

The 30-year average has risen by more than a full percentage point in a little over a month.

While both refinance and purchase customers were banging down the doors in 2021, leading producers are already working much harder as they change up their offerings.

The gain on sale from first quarter originations increased as the bank shifted more volume share to the higher-margin channel.

Meanwhile, adjustable-rate mortgages saw their largest volume share since 2019.

The repository is a "single source of truth" lenders can use to learn about aspects of digital mortgage acceptance including by jurisdiction and wholesale lender.

But it was the second-most successful year ever for IMB originations since the Mortgage Bankers Association began collecting this data in 2008.

The company partially backed by Wells Fargo will integrate the technology in its point of sales software, which they say is used by more than 350 institutions.

Purchasers concerned over rising costs are jumping into the market now instead of taking a wait-and-see posture.

The municipality and the bank have been at odds over similar issues in the past, and no agency currently has deposit accounts with the lender.

One company that has responded with a new product thinks it can avoid roadblocks past attempts encountered by coupling automation with errors-and-omissions insurance.

Chief Technology Officer Diane Yu joins a growing number of C-suite personnel leaving the New York-based mortgage lender in recent months.