Originations

Total investment property lending this year should be 31% above 2020's pandemic-affected activity.

Rocket Mortgage is offering $2,500 in lender credits to homebuyers purchasing a primary residence in Detroit, the mortgage giant of Rocket Companies Inc. said Monday.

An equal split of refinance and purchase rate locks occurred during July, helped by elimination of the adverse market fee, Black Knight said.

The real estate and mortgage company’s revenue beat estimates, but a deepening loss appears to have worried investors.

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Delinquency concerns continue to wane as the end of forbearances is not expected to lead to a massive wave of foreclosure activity.

Increased purchase lending and added pressure from Fannie Mae and Freddie Mac’s new loan limits should drive the likelihood of borrower misrepresentation.

The last-minute creation of the new federal holiday raised questions for lenders who must adhere to certain timelines regulated by the Consumer Financial Protection Bureau.

Many banks reported sharp declines in income from home loans during the second quarter. The large gains they enjoyed last year thanks to a surge in refinancing activity are unlikely to return, according to bankers and analysts.

Despite declining rates, refinancing volume fell, while purchases slowed even further after dipping to its lowest point in over a year.