Mortgages

Major secondary market investors recently allowing for the use of an attorney opinion letter (AOL) as an alternative to traditional title insurance has led to the emergence of both instigators and imitators, writes the CEO of Voxtur.

In cities where the demographic made a majority of purchases, homebuyers with average credit scores in the mid-700s submitted hefty down payments.

Interest rates and inflation are at the top of the list of problems facing the industry, but attracting consumers under current market conditions has become more concerning, according to the National Association of Home Builders.

But with rates turning back up this past week, activity could fall in February, Black Knight Optimal Blue said.

The change comes as the battle with rival United Wholesale Mortgage reaches a fever pitch and analysts speculate that more changes at the top could be coming.

Lenders have yet to publicly address the trendy software that's made headlines for its capabilities to write creative prompts, solve complex problems and generate and repair computer codes.

Average housing costs have surged over 40% since 2019, outpacing 15% in wage increases, the National Association of Realtors said.

The company reportedly hired Truist to broker the loan origination system, which observers have been saying all along would have to happen.

Executives at the company said building special-servicing capacity will help the company brace itself for a potential change in the credit cycle.

If he really wants to win reelection in 2024, President Biden and his administration should leave the mortgage industry in peace and find somebody else to torment, the Chairman of Whalen Global Advisors writes.

While reverse mortgages allow older homeowners the opportunity to draw on home equity with minimal risk, problems arising from flaws in program structure are causing headaches for borrowers and issuers alike, according to recent reports.

The Federal Home Loan Banks system's primary affordable housing program has not had an in-depth review in more than 12 years, according to a new inspector general report.

A decline in jumbo products led to overall tightening, as conforming and government-sponsored loan categories measured in the Mortgage Bankers Association's index were unchanged from December.

Both Zillow and Black Knight Optimal Blue recorded significant increases, but the Freddie Mac survey only reported a 3-basis-point rise.

The company, which recorded positive comprehensive income based on unrealized RMBS gains, sees potential buying opportunities in bulk mortgage-servicing rights amid a wave of sales by Wells Fargo and others.

The regulator said it is a violation of anti-kickback rules to present lender results based on their payment to the platform rather than criteria that serves the potential borrower.

The company's mortgage operations posted a $24 million pretax profit thanks to servicing, while loan production saw a loss.

The company's controlling shareholder wants to replace former HUD Deputy Secretary Pam Patenaude on its board with title company executive Steve Ozonian.

The publicly traded acquirer is looking to grow market share by selectively purchasing companies to beef up its influence in certain regions.

Refinances surged 18% compared to the prior week and purchases 3%, but growing loan amounts signal still-limited affordability.