Originations

Mortgage applications decreased 0.5% from one week earlier as inadequate housing supply is putting upward pressure on home prices and affecting purchase activity, according to the Mortgage Bankers Association.

FHA volumes, a key contributor to Ginnie Mae issuance, could fall as long as the refinancing boom continues — unless the FHA takes a step that could reverse that trend.

The company, which earned $535 million in net income in 3Q20, has been prioritizing purchase volume and managing costs to account for a possible decline in originations next year.

Mortgage industry hiring and new job appointments for the week ending Nov. 6.

The company is finding it challenging to ramp originations back up after spending most of the second quarter on the sidelines.

He is the fourth person to hold the titles of president and CEO at Waterstone since the summer of 2018.

The ballot measure, which would allow local jurisdictions to expand rent control, had concerned mortgage companies who worried the law would result in a patchwork of different policies that could complicate underwriting and discourage lending.

Mortgage applications increased 3.8% from one week earlier as a drop in most loan interest rates brought on an increase in refinance activity, according to the Mortgage Bankers Association.

Smaller lenders should consider positioning themselves for acquisition at a time when they can be making the most money.

Meanwhile, the delinquency rate is up 89% year-over-year, according to Black Knight.