Originations

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.

Recent existing home sales have been stronger than expected, but next year could see a market held back by the inventory shortage and higher rates.

The decline in competition might not have helped with affordability but it gave home purchasers more time to consider properties before they were snatched up.

Lenders gaze into the looking glass to forecast what’s ahead for the industry’s jobs, product mix, capital market policy and more.

Although seasonal slowing and limited inventory have temporarily reduced prospective financing, the number sales in the sector hit nearly 1 million in November, according to the Mortgage Bankers Association.

The central bank’s new tone has many in the industry planning for potential volatility in 2022.

However, the unusual profitability residential finance firms have previously enjoyed, and a strong housing market, could help to sustain their bottom lines.

Purchases inched upward, but refinance volumes retreated, with interest rates now well above levels from a year ago.

Younger home buyers accounted for more than half of Veterans Affairs purchase mortgages, with Virginia Beach and Washington seeing the greatest number of applications.

Error findings related to income and employment reached a high point since Aces Quality Management started its report in 2016.

Activity is down 20% from one year ago, driven by a 65% falloff in rate and term refinancings, Black Knight said.

CFO Kevin Ryan will handle the day-to-day running of the company, as it works toward going public via its revised SPAC merger.