Originations

The newly public digital mortgage giant is relying on a diverse set of loan channels to take on competitors in an increasingly crowded field, CEO Anthony Hsieh said in an earnings call this week.

The shrinking ranks of appraisers, combined with the record number of loan applications in 2020, created "the perfect storm between supply and demand," which inspired the new payment plan, Incenter's Mark Walser said.

Between the dip in refis and the approach of the spring buying season, mortgage lenders are likely to start paying a little more attention to the purchase market, which is less rate-sensitive.

The offering went down to $14 from an anticipated $19 to $21 per share.

But the average amount for a purchase loan increased to an all-time high, showing the upper end of the housing market remains strong.

But the company sees reasons to be optimistic about the second half of the year, CEO and Chairman Michael Nierenberg said during its fourth quarter earnings call

The movement in the MBA’s credit availability index suggests that, amid forecasts of diminished refinancing, lenders want to accommodate consumers buying homes, but they aren’t yet ready to lend as freely as they did before the pandemic.

The mortgage industry’s technology emphasizes speed, but a surge in volume has elongated the closing process for many, which is problematic ahead of a potential seasonal uptick in more time-sensitive purchase loans.

As 2021 shapes up to be a robust year for mortgage volumes, local lenders discuss the 12 metro areas that are expected to get the most interest from buyers, according to Zillow.

2020’s mortgage employment numbers proved to be slightly higher than previously estimated when reconciled with the Bureau of Labor Statistics’ annual business census.