Mortgages

Purchases of new single-family homes decreased 18.2% to a 775,000 annualized pace from an upwardly revised 948,000 rate in the prior month, government data showed Tuesday.

The Consumer Financial Protection Bureau’s acting director has said he could rethink the pending Fair Debt Collection Practices Act rules, but a report released Monday indicated they’re moving ahead for the time being.

These trends, in addition to the increase in appraisal contingency waivers, could add risk to mortgage lender businesses.

Contract closings decreased 6.6% from the prior month to an annualized 6.22 million from a downwardly revised 6.66 million in January, according to National Association of Realtors data released Monday.

From offering operations folks big bonuses to grooming recent grads, lenders are getting creative in their efforts to manage staffing throughout the boom-bust cycle.

The Military Urban Development Initiative, which is also open to civilians, allows buyers to select a lot, house design and mortgage.

Also: How 9.3 million renters could enter the purchase market, lessons from Flagstar’s data breach and a possible 15-year plan for Fannie and Freddie.

A slower rate of appreciation looks more likely than depreciation in most markets, according to the company’s latest report.

Household formations, looser credit and an improved economy will overcome higher rates — and even the inventory shortage.

There are more than 60 banks and other firms financing flippers today, according to AlphaFlow, an investment firm that buys real estate loans from lenders. That’s an increase of almost 50% in a little more than two months.

The government-sponsored enterprise greenlit the use of CoreLogic and LoanCraft’s tools that validate self-employed borrowers’ incomes, and it certified Finicity, a firm that facilitates the equivalent for W-2 employees’ payroll data.

Relying on retained earnings alone, it would be until at least 2036, if not longer, before government control of Fannie Mae and Freddie Mae might end.

Like the fintechs SoFi and LendingClub, DLP Real Estate Capital is acquiring a community bank largely to lower the cost of funding loans.

However, the increase has been more gradual than that seen in Treasury yields, and loan activity has only subsided slightly to date.

New assistance for renters may help but past efforts, while necessary, failed to get relief to renters in an expedient way, said David Brickman, who is now the head of a new agency lending platform backed by Barings and Meridian Capital.

The acquired platform, while remaining stand-alone, will have integrations with Black Knight's Empower loan origination system for mortgage lenders.

But building permits near an almost 15-year high point to further gains in home construction in the months ahead. The data coincide with still-elevated homebuilder sentiment as the industry works to replenish lean inventory and meet housing demand.

While the economic recovery and stimulus checks drove upward movement in purchases, it wasn’t enough to offset tumbling refinance activity.

After its three acquisitions since last August, the Philadelphia area-based credit data firm predicts more industry consolidation is on the way.

Apart from saving more money, millennials prefer to spend their savings on a home down payment, Zonda economist Ali Wolf said.