Originations

Activist John Hope Bryant has suggested the 40-year mortgage as a solution to affordability issues for first-time buyers. While it has some support, industry players also note questions about practicality remain.

The merger between the two retail mortgage businesses will grow the company's footprint, especially in the Pacific Northwest, according to Synergy One's CEO.

The disaster underscores Americans' dangerously low levels of flood insurance coverage, especially away from coastal areas. 

State housing finance agencies had a resurgent fiscal 2023 and the recent fed funds rate reduction could have a mixed impact on them, Fitch Ratings said.

"A slight upward turn reflects a modest improvement in housing affordability, primarily because mortgage rates descended to 6.5% in August," NAR Chief Economist Lawrence Yun said in a prepared statement.

Affordability improved for a fourth straight month, but questions remain about whether recent trends will bring a significant number of buyers into the housing market.

Mortgage bankers feared a proposal related to lenders' access to a major secondary market and related reporting was too harsh. They're eyeing a redraft closely.

Mortgage rates being at a two-year low has not moved potential buyers off the sidelines, Freddie Mac says, but Redfin says demand for home tours is up.

CV3 Financial Services, started by long-time business purpose lending executive William Tessar, just celebrated one year in business and topping the $1 billion mark.

Purchase activity trudged along during what lenders describe as a traditional end-of-summer slump.

Home-price gains in the U.S. slowed in July as still-high mortgage rates kept would-be buyers on the sidelines while inventory piled up.

Originators are wary of fading rates heating up home prices and reducing inventory for prospective buyers.

While the lock-in effect on existing supply has helped drive consumer interest in new construction, first-time buyers have been taking a greater share of that inventory.

MV Realty has offered real-estate contracts that call for consumers to trade upfront cash for long-term home sale restrictions, potentially hampering mortgages.

The addition of the software under its brand will help the company better serve smaller lenders as it seeks market share, company leaders said in an interview with National Mortgage News.

While housing demand remains strained, national home price appreciation continued to make more room for buyers in August, according to First American.

A Senate budget bill includes language regulating the use of mortgage trigger leads, legislation that much of the industry supports.

While still historically low, some of the changes in the first quarter appeared "troubling" and warranted extra scrutiny, according to Aces Quality Management.

As home prices rise, leading to larger transaction amounts, Certifid doubled the amount of wire fraud insurance coverage provided for transfers it vets.

While the Freddie Mac survey found the 30-year fixed fell 11 basis points, other indicators, including the 10-year Treasury yield, have all increased.