Mortgages

JPMorgan Chase is going on the “offensive” in mortgages as home prices rise across the country, said Marianne Lake, the bank’s chief executive for consumer lending.

Bay Area homebuyers shook off any lingering reservations about shopping during the coronavirus pandemic, driving median sale prices up nearly 20% in September in a tight housing market.

A White House-backed effort to free mortgage giants Fannie Mae and Freddie Mac from government control has been cast into doubt by former Vice President Joe Biden’s victory over President Trump.

Also: Waterstone Financial hires its fourth head of mortgage in two years.

The company, which earned $535 million in net income in 3Q20, has been prioritizing purchase volume and managing costs to account for a possible decline in originations next year.

For most of the underwriters it was a strong quarter, but concerns remain over government-sponsored enterprise reform and potential claims after forbearances end.

Under 2.9 million borrowers sit in coronavirus-related forbearance as GSE-backed mortgages drove the latest decrease, according to Black Knight.

The new record in third-party originator hiring numbers adds to indications that some lenders have been leaning harder on the wholesale channel to address capacity issues amid the origination boom.

Mortgage industry hiring and new job appointments for the week ending Nov. 6.

The company is finding it challenging to ramp originations back up after spending most of the second quarter on the sidelines.

Mortgage rates are currently the lowest in the history of Freddie Mac’s survey, but sharp differences of opinion persist on whether that will make this a $4-trillion year or not.

Compared with the second quarter, the title insurer had 154,000 more orders opened and earned $89 per residential file.

Brookfield and JV partner Swig Co. are refinancing debt and cashing out $200M in equity in the iconic, sloped-base midtown Manhattan office tower.

One of the top banking regulators during the 2008 financial crisis could have a hand in nudging Fannie Mae out of conservatorship.

Growing equity levels increased the share of equity-rich and pulled borrowers out from underwater in the third quarter, according to Attom Data Solutions.

He is the fourth person to hold the titles of president and CEO at Waterstone since the summer of 2018.

The ballot measure, which would allow local jurisdictions to expand rent control, had concerned mortgage companies who worried the law would result in a patchwork of different policies that could complicate underwriting and discourage lending.

The price for the commercial valuation and budgeting technology company was not disclosed.

More borrowers between 21 and 40 are leveraging the historically low mortgage rates to either buy their first homes or slash their monthly payments, according to Ellie Mae.

While Rocket reaches near $1 per share, Fannie Mae and Freddie Mac are seeing declines as their planned exit of conservatorship remains tied to the presidential race.