Originations

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.

Refinance numbers declined for the seventh time in eight weeks, leading to an overall weekly decrease.

The transaction takes depository-focused nCino into the independent mortgage banking side of the lending business.

Despite elevated prices and supply-chain bottlenecks, October application activity was up for the second time in three months and pushed the average loan size to a record high.

A pilot conducted with a handful of independent financial advisors has transitioned to a full roll-out, with the lender offering a discount of up to $5,000 to potential borrowers through the broker-dealer.

The company was able to generate a relatively higher margin than the previous quarter, in contrast to broader industry trends, bringing its bottom line back into the black.

Even though one aspect of these lending standards is becoming more flexible, some say they still don’t always meet the needs of borrowers like delivery workers employed on a contract basis.

The company’s servicing operations also reported a quarterly profit, with its portfolio increasing by 20% annually.

The weekly gain was the largest since July, but overall activity still remains close to early 2020 lows.

Nearly half of the company’s revenue comes from sources outside of the traditional home lending market, CEO Patricia Cook told analysts during the company’s earnings call.

The Federal Housing Administration’s changes seek to bring guidelines for specialized Title I programs in line with current borrower and market needs.