Originations

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.

The government-sponsored enterprise will now accept a written opinion from an attorney in lieu of a policy for some transactions.

Originators offered fewer high loan-to-value and lower credit-score products, but jumbo offerings increased for the 10th time in 12 months, the Mortgage Bankers Association said.

Further upward pressure is likely this spring, as markets prepare for expected reduction of bond purchases by the Fed.

While relatively few of these consumers have applied for mortgages recently, the findings point to an untapped market that lenders might be able to reach out to as refinancing dries up.

The misdemeanor plea deals for three co-defendants do not add to troubles for an upstate New York developer facing federal felony charges in what once was called a "wide-ranging mortgage fraud scheme."

Decreasing affordability and remote work is spurring interest in moving to these often overlooked markets.

But experts continue to downplay the extent of the risk of a housing bubble.

Refinances now also make up less than 40% of new applications, with numbers at their lowest since 2019, according to the Mortgage Bankers Association.

XBTO intends to serve buyers in the surging Florida market with purchases of properties worth $1 million or more.