Originations

The Convergence Collaborative, building on a Mortgage Bankers Association initiative in three cities, is seeking innovative solutions to the racial gap problem.

The 30-year fixed mortgage rate rose over 20 basis points last week, putting downward pressure on home loan activity.

Home prices are one driver. Other factors also have been exerting upward pressure on housing expenses that differ by region and lift the overall average.

While rate-and-term refinance locks boomed, the rise in purchases also was telling as it was the first since the Fed started raising rates, Optimal Blue said.

Stephen Scherr starts this week as co-president at Pretium, a major landlord of U.S. single-family homes founded by his former Goldman colleague Don Mullen.

Jay Venkateswaran, business unit head of banking and financial services at WNS Global Services, said the best lenders are preparing now for expectations of increased business at least two quarters in the future.

Buyers aren't necessarily responding to greater inventory and lower mortgage rates.

The conforming 30-year fixed rate mortgage rose to 6.12% on Oct. 3.

The perpetrator faces up to 150 years in prison, with sentencing scheduled for December.

The bank just added an additional $6 million to a program that pays for a 2 percentage point buydown in the mortgage rate for eligible borrowers.