Mortgages

The 30-year average has made a steep reversal over the past two weeks following a large acceleration in mid-June.

Lawmakers approved the first $500 million for the program as a trailer bill to the fiscal 2023 budget. Bonds may be used to fill the gap.

The largest affordability crunch seen in years and increased secondary-market options make it more pressing and feasible to pilot financing for the lowest-cost manufactured homes, Urban Institute research suggests.

Affordability was at its lowest point since the mid-1980s while home price appreciation numbers remained historically strong, Black Knight’s latest report found.

The bank began trimming its payroll after a dismal first-quarter origination performance. It will announce second-quarter results next week.

Capital adequacy at the four largest underwriters remained strong at the end of 2021 even with a slight decline from the prior year, Fitch Ratings said.

Average purchase-loan amounts shrank for the second week in a row and are currently 12% below their record size in March.

Drop in new contracts and waining interest point to a slower Q3 as consumers grow cautious about a recession.

But second home sales — which were below pre-pandemic levels for the first time in 24 months during May — may slow in the future as those in vulnerable areas get tougher to insure.

Even with another annual surge of over 20%, the pace of home-price growth eased in May and experts anticipate even further moderation over the next year.

And in other consolidation news, HomeServices of America’s Pickford Escrow Co. picks up competitor Legendary Escrow Services.

The use of rent data in credit models is allowing people with low credit scores or thin credit files to get loans. But consumer advocates warn the use of that data could harm the very people it’s supposed to help. 

Congressional authorization for credit-preference programs in the Equal Credit Opportunity Act could mitigate disagreements that might arise from the equitable housing finance plans, write two partners at K&L Gates.

The potential expansion of credit scoring models and the handling of post-foreclosure sales are just some of the issues at hand.

A Federal Reserve Bank of Philadelphia research group called the early indication of outcomes “concerning given overall strong market conditions.”

The transaction adds 11 branches in Virginia, Florida, North Carolina and Texas to AnnieMac's nationwide 60-plus office network.

Recession fears and rising mortgage rates are cutting buyer confidence. Even as sales have been falling, sellers have only just started adjusting expectations.

As an industry, we often fail to recognize Retention mortgage loan originators for their unique skill sets, flexible attitudes, ability to close loans with minimal support staff and their value to investors seeking to monetize assets, writes Planet Home Lending’s VP of retention.

One of the secondary market alternatives the Federal Home Loan Banks of Chicago and Indianapolis offer has a new servicing partnership with PHH, and interest in further cultivating their community lending potential is growing.

While those born between 1946 and 1964 have largely chosen to age in place, their eventual home downsizing or passing is not likely to result in a large burst of inventory entering the market, according to a report from the MBA's Research Institute for Housing America.