Mortgages

Despite a likely recession, researchers at the government-sponsored enterprise revised volume forecasts upward for both 2023 and 2024, while originators also entered the year expecting their business to improve.

As one of the latest examples of consolidation in the industry, the acquisition is notable in that it aims to preserve the availability of lending resources for both parent companies' customers.

Contract closings slipped 0.7% at the start of the year to an annualized pace of 4 million, according to data from the National Association of Realtors on Tuesday.

U.S. government bonds slid across the curve, with the 10-year rate heading for the highest close since Nov. 9.

This represents a gradual rise in activity, not the tsunami that many feared would take place as COVID-era moratoriums wind down, Auction.com said.

Community Financial Credit Union is partnering with the hosts of "Bargain Block" to renovate low-cost homes and help prospective buyers qualify for their first mortgage.

Only about $4.27 billion of the bonds have been issued so far this year, down from $29.38 billion at this same point last year, according to data compiled by Bloomberg based on deals without government backing.

The biggest gaps are in cities with the largest concentrations of people in this demographic, a LendingTree study of the 50 largest metro areas found.

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.