Originations

The company will roll out the program it has been piloting, Appraisal Direct, nationwide on Oct. 1.

But refinance volume was constrained in recent weeks and many of the new offerings are aimed at low income borrowers, the Mortgage Bankers Association said.

Effects of major economic announcements this summer have had little impact on the lending market, with averages remaining under 3% since July.

But a greater number still expect decreased margins for the fourth straight quarter, due to competitive pressures and shifting demands in purchases and refinances

Both government-sponsored enterprises approve more borrowers across the board than the broader market but the relative progress each has made differs across racial groups, numbers released Wednesday show.

Refinance and purchase applications both declined, while average loan sizes shrunk for the fifth consecutive week.

The changes could help one of the Biden administration’s affordable housing goals, which is aimed at making wealth-building through owner-occupied, 2- to 4-unit properties more attainable.

Improved capitalization and smaller balance sheets should help several weather the likely consolidation that is coming, Moody's said.

What that means for the industry outlook depends in part on how well the imbalance between supply and demand for homes sustains wavering gains in the housing market.

Price growth is moderating and properties are taking longer to sell — albeit by a modest three days.