Mortgages

Virginia and Montana both introduced new bills in the past month, potentially joining several other states in enacting policies that would increase business opportunities for lenders.

Adding pricing considerations tied to debt-to-income ratios, which frequently fluctuate, are destined to create problems with borrowers and internal operations, the Mortgage Bankers Association wrote.

The Fannie Mae Home Purchase Sentiment Index rose for the third straight month, but concerns about affordability still weigh heavily on the minds of many Americans.

A series of recent studies offer a view into the dynamics that will impact home sales in 2023.

More incentives are coming for servicers as a greater number of distressed borrowers get expanded access to more affordable, streamlined modifications.

More than half of borrowers paid 0.5 points or more to cut their interest rate for the life of the loan, while just 3% chose the short-term option, Black Knight said.

Townstone Financial in Chicago had been accused of discriminating against certain consumers by trying to discourage them from applying for home loans. However, a judge ruled that federal law protects only actual applicants.

It's less expensive to rent in 45 of the nation's 50 largest metros, a ratio that has grown significantly since the end of 2021, according to Realtor.com.

In just the first few weeks of the year at least 10 transactions have taken place.

Servicing was strong relative to some analysts' estimates, but thin margins and higher-than-expected expenses in originations reduced earnings for the fiscal period.

Industry headwinds led numbers at the software and data provider downward at the end of the year, but company leaders said the unit is positioned well for a market snapback.

Since breaking above 7% in November, the 30-year fixed is now down nearly a full percentage point, Freddie Mac said.

The private mortgage insurer is purchasing Agents National and Boston National from Incenter, which itself is a unit of Finance of America.

The group, led by Senate Banking Chairman Sen. Sherrod Brown, said nonperforming loans sold to single family housing rental businesses or private equity firms results in the displacement of homeowners.

Various affiliated companies participated in the creation of the transaction, including its publicly traded REIT, which owned a significant portion of the mortgages.

The Federal Reserve slowed its drive to rein in inflation and said further interest-rate hikes are in store as officials debate when to end their most aggressive tightening of credit in four decades.

The Keystone State's housing finance agency will take over distribution of the federal aid following news reports that alleged the response times of the vendor handling payments have been excessively slow.

Despite lower interest rates, both purchases and refinances declined after recent surges, while average loan amounts have gradually crept up to start the year.

The latest quarterly numbers from TransUnion show both closed end products and HELOCs rose over the course of the past year as mortgage originations fell.

Although housing values have noticeably flattened in recent months, the share of buyers expecting the search for a new residence to become harder grew, according to the National Association of Home Builders.