Mortgages

The increases set to go into effect in February help some offset breaks for first-time buyers but also limit options for existing borrowers.

In order to address contractor pricing issues, the property preservation and management firm is shifting to a self-performing model by opening a national network of regional centers.

However, a tiered pricing system will limit an inflation-driven increase to under 10% for a small group of originators.

A group of House lawmakers on both sides of the aisle is pushing to expand the Low-Income Housing Tax Credit as the supply of affordable housing remains tight.

"This is Han Solo in carbonite: This is a market that could stay frozen for quite some time," said Benjamin Keys, a real estate professor at the University of Pennsylvania's Wharton School.

We should use the extra time we have to increase our focus on helping people wherever they are in the housing journey, writes the Executive Vice President of Corporate Strategy at Clear Capital.

Nonprofit housing developer James Armstrong shook hands with West Dallas residents and some of the city's top brass on an empty field where a rare deal was done.

Prospective borrowers are still looking at inland hotspots but coastal cities will make a comeback in the next 12 to 24 months with favorable acquisition costs and inventory, according to Guaranteed Rate's top-ranked loan officer.

Living next to an ALDI's, Trader Joes or Whole Foods increases home price appreciation, according to an Attom report.

But the rapid drop could be enhancing the volatility that is keeping buyers out of the market, Freddie Mac said.

Another fall in interest rates spurred a gain in activity, but volumes are still almost 70% off levels from 12 months ago, the Mortgage Bankers Association said.

While some year-over-year upticks have materialized, the benchmarks reported for September were still generally on par with or below pre-pandemic levels, according to CoreLogic.

Nonbanks will probably see the least change, while securitization lenders, depositories and REITs are likely to experience the most, an Urban Land Institute survey suggests.

The national median payment grew to $2,012 last month from $1,941 in September, the Mortgage Bankers Association found.

As the share of forborne loans increased for the first time in more than two years, servicers are cautiously eyeing data trends but appear equipped to handle storm-related distress.

Loan officers, processors and closers were impacted, a source said. What remains is a "skeleton crew" to run operations.

Rising mortgage rates also led to the highest level of listing price reductions as well as the largest annual drop in pending home sales, Redfin found.

IT departments are largely focused on finding solutions that will beef up volume while shrinking expenses, those in the field say.

Two vendors have added non-agency mortgage and co-issue servicing sales respectively, and a government agency has confirmed that it's working on overcoming a hurdle to more scalable eNote use.