Originations

The median price of an existing single-family home jumped 23% from a year earlier to an all-time high of $357,900, the National Association of Realtors said in a report Thursday.

The company attributed its second quarter loss to competitive pricing pressures and GSE-imposed charges.

Total investment property lending this year should be 31% above 2020's pandemic-affected activity.

Rocket Mortgage is offering $2,500 in lender credits to homebuyers purchasing a primary residence in Detroit, the mortgage giant of Rocket Companies Inc. said Monday.

An equal split of refinance and purchase rate locks occurred during July, helped by elimination of the adverse market fee, Black Knight said.

The real estate and mortgage company’s revenue beat estimates, but a deepening loss appears to have worried investors.

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Delinquency concerns continue to wane as the end of forbearances is not expected to lead to a massive wave of foreclosure activity.

Increased purchase lending and added pressure from Fannie Mae and Freddie Mac’s new loan limits should drive the likelihood of borrower misrepresentation.

The last-minute creation of the new federal holiday raised questions for lenders who must adhere to certain timelines regulated by the Consumer Financial Protection Bureau.

Many banks reported sharp declines in income from home loans during the second quarter. The large gains they enjoyed last year thanks to a surge in refinancing activity are unlikely to return, according to bankers and analysts.

Despite declining rates, refinancing volume fell, while purchases slowed even further after dipping to its lowest point in over a year.

The gain on sale in the retail channel dropped by more than half annually, as the wholesale and joint venture channel endured an even tighter squeeze due to competitive pressures

While the hot market’s actual and forecast home price gains were key drivers of Fannie’s results, they also present a challenge to the affordable housing mission that it’s working to address.

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The REIT also reveals plans to expand in the single-family rental market with a new brand and target of $5 billion in acquisitions over five years.

New customer growth and increased adoption of a digital workflow by mortgage lenders resulted in better than expected results for the Intercontinental Exchange unit.

A change in the relationship between fixed and adjustable loans has increased some consumers’ interest in the latter market.

The bank produced $1 billion less in originations while its gain on sale fell 49 basis points from the first quarter.

Such applications have declined on an annual basis for the past three months, but overall weekly numbers increased due to a jump in refinances amid plummeting rates.