Mortgages

Interest rate increases and economic concerns led the government entity to lower the required amount from $1 million to $250,000.

The majority of borrowers cite a national emergency declaration, but the share that do has been dropping as concerns about income, debt and unemployment creep up.

But the company expects positive margins in the first quarter from Bay Equity Home Loans and increased cross-sell capture from real estate agents.

Single-family property sales ran at a seasonally adjusted annual rate of 725,000 units last month, a 13.1% increase from December.

The lender paid workers in commissions, and failed to provide a minimum wage over pay periods in which no loans were originated, counsel alleges.

The 51 basis point increase was inevitable after the late payment rate reached a record low in the third quarter, the Mortgage Bankers Association said.

Despite slowing originations, the shift to a purchase-oriented market contributed to growth, while outstanding HELOC amounts also surged to its largest in over a decade, the Federal Reserve Bank of New York found.

Investors are concerned that the Fed could raise rates 50 basis points at its next meeting and are pricing that risk into the 10-year Treasury.

Residential starts decreased 4.5% last month to a 1.31 million annualized rate, according to government data released Thursday.

Non-depositories now dominate home lending, but many of these firms were untested until they had to grapple with the current rising rate environment. How they fare could significantly impact the rest of the mortgage market and, more specifically, the Government National Mortgage Association.

The company had asked that the case be dismissed given its similarity to previously settled claims. It's weighing an appeal.

Many players in the segment appear to be holding back on plans amid concerns about falling prices and rents, according to Redfin.

All six companies were profitable in the fourth quarter and the full year, but had far less new volume than in 2021.

Average purchase sizes have increased each week this year, likely signaling greater buyer activity occurring toward the higher end of the market.

The increase in sentiment to a five-month high was fueled by more optimism about sales, the outlook and a pickup in prospective-buyer traffic.

New starts surged 75% compared to a year ago, but repossessions saw their first decline in one-and-a-half years, according to Attom.

The Consumer Financial Protection Bureau's two new proposed rules make sense for most non-banks but applying them to independent mortgage banks is redundant, writes the head of the Community Home Lenders of America.

Weaker economic conditions, rising interest rates and expected changes in investment returns drove the reduced expectations, the Mortgage Bankers Association said.

The government-sponsored enterprise expects a "moderate recession" in the first half of 2023.

Median expected growth in household income declined 1.3 percentage point to 3.3% in the January survey, the largest monthly drop in data going back almost ten years, the New York Fed found in a report released Monday.