Mortgages

Despite the overall decline, refinances saw an uptick even as rates approached 8%, with volumes up in both conventional and government-sponsored markets, the Mortgage Bankers Association said.

The nation's biggest real estate franchisor also shed almost $300 million from its over $2.5 billion in company debt.

The market for new homes has broadly held firm in the face of decades-high mortgage rates and elevated housing prices.

Until now, National MI and Essent did not have direct ties with the legacy platform, although they are already on the newer enterprise loan origination system.

The company's builder and mortgage banking segments both ended up in the black, as sales for new constructions outperform the existing-home market.

Mortgage borrowers alleged in U.S. District Court that the servicer applied funds in the wrong order and charged unnecessary interest.

The top five servicers that are depositories have a combined unpaid principal balance of more than $1.89 trillion at the end of Q2 2023.

Loans more than 90 days past due increased for the first time this year in September, according to ICE Mortgage Technology.

The single-family rental giant struck a deal to manage homes for another major landlord at a time when scarce inventory of properties for sale is making it hard to expand.

Though home mortgage issuance has slumped in line with originations, new potential bank capital rules and increased consumer debt consolidation could boost activity for these two subsets in the secondary market.

As part of its breakup fee, the Old Greenwich, Connecticut REIT will come away with an over 6% interest in its New York counterpart.

The loan, dubbed Homesafe Second, will allow borrowers 55 and older to tap their home equity via a second mortgage.

By the end of this year, origination volume at HFAs will come in at approximately $29 billion, close to pre-pandemic levels, according to a new Moody's report.

Households shelled out 5% more to upgrade their properties compared to a year ago, but volume will decline by almost 8% over the next 12 months, according to Harvard researchers.

The top five towns have an average median home value of $646,380.

While the company's long-term issuer default rating has slipped a little, affiliates of Blackstone that have a higher one back the reverse mortgage player.

Unlike some banks that reported earlier, the subsidiary of PlainsCapital Bank saw its gain on sale decrease from the second quarter.

The median nationwide home price also increased by 2% to a new high of $350,000, according to a report published by Attom.