Originations

Treasuries plunged following news of the omicron variant, but subsequently reversed course.

The news comes just a day after the company restructured its merger with Aurora Acquisition to put $750 million in cash on its balance sheet right away.

The agency must raise its upper and lower levels in tandem with the new conforming loan limits by law.

The new terms, which still value the New York-based mortgage lender at $6.9 billion, include a $750 billion convertible bridge note.

Purchase applications increased for the fourth consecutive week, with the average loan amount at its highest since February.

The increase that followed in the pandemic’s wake is subsiding, and migration patterns are shifting, according to Redfin.

Higher sales commissions helped to drive production costs to their second-highest level since the Mortgage Bankers Association started its survey in 2008.

Though unlikely to derail a hot housing market, another surge in COVID-19 cases could cloud the outlook for economic growth, analysts said.

With home improvement spending up, more mortgage bankers are building out teams to capture the market.

While most agree texting is essential, are more traditional methods, like direct mail, still necessary post-COVID?

The company also let go of staff in its Chicago-area office, with one account estimating "hundreds of employees" lost their jobs there.

Sales of new U.S. homes edged up in October, reflecting stabilizing demand even as builders face supply-chain disruptions and buyers grapple with rising prices.

Purchase and refinance numbers both came in higher, while average loan sizes also recorded an uptick.

But in November, home buyer demand reached its highest level since RedFin began compiling the data in 2017.

However, capacity issues, the suspension of the government-sponsored enterprise purchase caps and higher conforming limits all could affect activity, KBRA said.

Once the news of the delayed sale was announced, the mortgage wholesaler opened trading on Nov. 17 at $1.17 per share higher than its previous close.

The likelihood that inflation remains above the Fed's 2% target contributed to the government-sponsored agency’s decision to dial back its 2022 outlook.

Fed moves, inflation and retail sales applied upward pressure, contributing to the increase.

Announcements from Paramount Residential Mortgage Group and LodeStar Software Solutions are early indications that the company’s aggressive investment in diversified business lines could pay off.

Borrowers who make at least a 10.01% down payment will not be required to obtain this form of credit enhancement, as these loans are not being sold to Fannie or Freddie.