Mortgages

Despite lower numbers, refi applications continued trending strongly, while purchases fell close to lows from more than a year ago.

The cloud IT provider for settlement services companies has no timeline on when services will be restored following its shutdown Friday.

The Rhode Island bank endured a sharp decline in fee income from home loans, which had spiked earlier in the pandemic. But CEO Bruce Van Saun says the company is well positioned as the refinancing boom fades and the home purchase market becomes more important.

Meanwhile, the average new-home mortgage price climbed to a new all-time high, according to the Mortgage Bankers Association.

White Americans are more likely to benefit from generational wealth when purchasing property.

As rising home valuations force first-time home buyers out of the market, expect to see non-owner-occupied loans to increase.

Initial home construction rose 6.3% last month to a three-month high, according to government data released Tuesday.

The cloud-based mortgage software company plans on trading on the New York Stock Exchange with a starting price of $24 to $26 per share.

The adverse market fee change could contribute to an increase in refinance volume, adds Mortgage Bankers Association economist Mike Fratantoni.

Forgoing traditional mortgages by buying homes outright is turning into a 2021 trend, and businesses are stepping in to facilitate these purchases.

Confidence among U.S. homebuilders pulled back in July to an 11-month low as builders contend with elevated materials prices and ongoing supply shortages.

Also: Fannie Mae, Freddie Mac loan modifications reach a pandemic high, Recreational marijuana is a gateway drug to higher home prices

The GSE forecasts $4 trillion in production this year because refinance activity is stronger than expected.

The proposed acquisition comes just days after Better.com announced plans to buy London-based online loan broker Trussle Lab.

The software provider’s offering hit the top of its price range estimate and started trading at $18 per share.

The agency’s new chief said eliminating the “adverse market fee” — in place since December — will make it easier for families to refinance while mortgage rates are still low.

“One” is the first in a series of non-agency mortgages the wholesaler plans to introduce this year.

The return of more normalized numbers for two key players in the home loan market could be the lead-up to a wave that’s been anticipated since the coronavirus arrived.

Purchase loans also increase, as their average size shrinks

Those handling loan modifications anticipate a growing secondary market for loans in forbearance as they budget cautiously for additional alterations of regulations down the road.