Mortgages

The ability to produce a cohesive, visible audit trail is “like nirvana” for lenders, ICE Mortgage Technology Vice President Christopher McEntee said.

While particularly high rates of lending have cushioned mortgage companies and banks from the impact in the past, higher rates and thin margins have made efficiency more pressing.

While it might be relatively easier to buy a home in the city today, both types of communities are still experiencing high rates of appreciation, the company said.

Residential starts decreased 0.2% last month to a 1.72 million annualized rate after a downwardly revised 1.73 million pace in the prior month, according to government data released Wednesday.

A sustained downturn in 2022 activity has also led the Mortgage Bankers Association to revise its originations forecast for the year.

Depository originators lose 68 cents per $1 more than their nondepository competitors.

Lending that can fulfill Biden administration aims around equity and supply, like an FHA premium cut or financing for accessory dwelling units, remain possible, but late-cycle housing risk is a concern.

The White House outlined a specific role for the agency in its housing supply agenda, which has not happened before, Ginnie President Alanna McCargo said at the MBA Secondary Conference. Meanwhile, the acting head of the FHFA said preferred stock talks haven’t happened — yet.

Preliminary data from the trade group indicates that mortgage lenders an average of 5 basis points earned per loan as costs reached an all-time high.

Mark Calabria, who oversaw the two government giants under Trump and was fired by the Biden administration, said in a recent interview that the government-sponsored enterprises are once again at risk of insolvency.

A property management and acquisition platform for single-family landlords is going public through a blank-check merger in a bet that investor appetite for rental houses will outlast waning enthusiasm for real estate technology stocks.

The agency now sees applications for mortgage-recovery advances approaching 3,000 per month.

The outspoken regulatory chief of the Consumer Financial Protection Bureau also said proposed Community Reinvestment Act reform isn’t likely to draw banks back to Federal Housing Administration lending.