Underwriting

Back in 2018, Trump Administration officials attempted to have the case dismissed but the federal court system rejected its petitions.

And having a paperless process was an important reason for many in picking their originator, the National Survey of Mortgage Originations found.

Borrowers' affordability concerns drove activity lower than normal seasonality in November would indicate, Black Knight said.

Lenders added jumbo and adjustable rate mortgage products during November, both of which have had lower interest rates than conforming loans, the Mortgage Bankers Association said.

Higher inflation and mortgage rates led to the increased likelihood that conforming loans originated in the three months ended Sept. 30 would go 180 or more days delinquent, Milliman found.

A potential borrower should have a credit decision in the "matter of one minute," the lender said.

However, a tiered pricing system will limit an inflation-driven increase to under 10% for a small group of originators.

The change, effective Dec. 21, is being put into place two years after it was first proposed.

A Fannie Mae survey says 36% get only one quote, while a separate Zillow study found 72% don't plan to look for options.

The 15-year fixed-rate mortgage saw an average rise of 6 basis points that was higher than the overall gain, according to a retrospective report issued Wednesday.