Underwriting

More than two-thirds surveyed said they expect to make less money over the next three months as price reductions ramp up along with a market shift to purchases.

In addition to earning ancillary fee income, it provides originators with an opportunity to connect with current and potential clients mired in student loan debt.

The program, announced last October, looks to provide services to minority-owned banks and credit unions so they can increase homeownership rates in their communities.

While last year’s high valuations protected the wealth embedded in consumer residences, a new report suggests that they can also be an indication of rising risk.

Companies in the government mortgage market that serves low income, entry-level buyers are facing higher forbearance rates and more financial strain than others, making homeownership increasingly unattainable as credit remains tight.

It’s getting easier to close bigger loans for higher-priced properties, but credit is expanding slower for first-time buyers.

While the first quarter is typically the weakest period for the title business, the sector benefited from strong refinance volumes that were driven by low interest rates.

Loans bought on the secondary market have become increasingly important as borrower demand has ebbed and companies have sought to obtain mortgages through additional outlets to maintain production levels.

System updates, which may be a result of changes to the Preferred Stock Purchase Agreements, have Community Home Lenders Association members saying loans that were approved previously are getting rejected when put back through.

With independent title companies scoring the largest market share gain last year, the sector saw a 22% increase in premiums overall, the American Land Title Association said.