Originations

Confidence among U.S. home builders slipped for the fourth straight month to its lowest point of the year in August as high loan rates and home prices weigh on companies and buyers alike.

While the Department of Veterans Affairs does not have a credit score usage mandate, it has shown to be open to the use of advanced models.

Mortgage rates, already easing, should keep falling as inflationary pressure cools during the rest of the year, but a pair of wild cards could upset the prediction.

Nearly two-thirds of consumers in a July survey said they expect mortgage rates to decline soon, but most want to see them cross a very specific threshold before they act, Mphasis Digital Risk found.

The refinance market saw a 35% jump in activity, as borrowers continued responding to downward trending rates, the Mortgage Bankers Association said.

The lender says the acquisition will boost its retail run rate to more than $240 million per month.

The increase in refinance volume in July took place before the mortgage rate collapse in early August that brought the share to over 25%, Optimal Blue data showed.

Risks include pushing debt-to-income ratios too high for qualifying and rising costs leading to defaults, all of which affect the secondary markets.

Remax Holdings had net income of $3.7 million, up from $2 million one year prior, but a non-GAAP measure used for the mortgage business showed a near $200,000 increase in losses.

The company's mortgage segment, Zillow Home Loans will be its primary emphasis going forward, leaders said in their earnings report.