Originations

The lender was accused in a recent lawsuit of failing to meet its obligations to underserved borrowers in lieu of wealthy clients.

The company in a court filing suggests it has funds available for its unsecured creditors, led by a private equity firm, major banks and a servicer.

An economic slowdown would deliver lower interest rates but tighter credit standards, while a "soft landing" for the economy wouldn't solve the low inventory problem, a new report said.

Lenders reported a net loss of $534 on each loan they originated in the last quarter, an improvement from the $1,972 loss per loan the quarter prior.

The average for a 30-year home loan marked the fourth straight week of increases, according to Freddie Mac.

But overall volume is still expected to be 38% lower than 2022's commercial real estate originations, as higher interest rates remain a drag.

Industry executives coming off a tough year are wondering what the transition will cost and how many borrowers it'll bring in.

With prices continuing to increase and the conforming 30-year mortgage rising above 7% in July, the purchase market is in a holding pattern, Black Knight said.

But its operating income missed estimates with servicing income and gain-on-sale margins coming in lower than expected.

Product availability for July remained at levels last seen in 2013 as rates briefly broke above the 7% mark during the month, the Mortgage Bankers Association said.