Originations

“Builders continue to be confronted with rising input costs and a lack of available lots, causing them to slow production,” MBA’s Joel Kan said.

The Michigan bank is the latest company to have customer data compromised through a software vulnerability. The incident reinforces the importance of attack simulations, constant searches for intrusions and exchanges of intel with peers.

United Wholesale Mortgage's new rule, which forbids brokers from doing deals with two competitors, has brought extra attention to its smaller rival.

The Federal Housing Finance Agency is preparing to retire certain loan underwriting flexibilities after extending them one additional month to April 30.

The company posted an $88 million loss for 2020 after shutting down for nearly the entire second quarter.

Also: Fannie sets early limits, servicing retention rates fade to record lows and loan broker inquiries rise as competition heats up.

After a booming 2020, more mortgage lenders than ever before expect diminishing margins in the coming months as climbing interest rates set up heightened competition.

The Department of Housing and Urban Development extended an implementation deadline less than a week before new standards were scheduled to go into effect.

The agreement calls for the bank to pay $50,000 to an unnamed consumer and requires its staff to undergo fair lending training as it relates to appraisals.

As one of the few mortgage firms that finances singlewides, AFR’s decision to offer the product will lend momentum to major government-sponsored loan buyers’ efforts to expand their manufactured housing programs.