Underwriting

Excess capacity remains in the mortgage origination cycle, and lenders need to cut costs and end the boom-and-bust hiring, Boston Consulting Group said.

The company, which became a depository in 2022, will be offering affordable housing products and initiatives in 45 states and the District of Columbia.

University Bancorp was to acquire a 50.5% stake in Blue Water, however the deal announced in July had yet close and Voxtur is starting a strategic review.

Mortgage applications for newly constructed homes continued to increase on a year-over-year basis, as existing home listings remain constrained.

Without admitting wrongdoing, Equifax agreed to pay $725,000 because of a three-week error which lowered credit scores for 77,000 New Yorkers.

The Federal Housing Administration mortgagee letter finalizes a draft put out for comment in November on the inclusion of rental payments from a boarder.

Even though senior home values are still near the all-time high, other data shows fewer are turning to reverse mortgages to ease a potential financial crunch.

Mortgage lenders increased their offerings of adjustable-rate and cash-out refinance loans in December as rates rose, the Mortgage Bankers Association said.

The share of waivers submitted with purchase mortgages sold to the government-sponsored enterprises accelerated just prior to a change that will make more loans eligible.

At least one buyer was looking for a barndominium, while another wanted a roller coaster, according to Zillow's analysis of data from its home search feature.