Originations

Sales of high-end homes fell 38.1% year-over-year, per a Redfin report.

Kindred Home Loans will serve buyers of properties in Dallas and San Antonio markets.

The partnership will expand UHM reach to new markets in Florida, Michigan, Ohio, North Carolina and California.

But the lower rates of the past month did result in a $7-billion boost to its origination forecast for 2022.

The deal will close for $10 million in cash, plus the right to purchase nearly 33.9 million shares of common stock.

Home prices dropped again on a monthly basis in October, exacerbating the loss in home equity among recent buyers, but the size of the falloff was the smallest since June.

However, a tiered pricing system will limit an inflation-driven increase to under 10% for a small group of originators.

Nonbanks will probably see the least change, while securitization lenders, depositories and REITs are likely to experience the most, an Urban Land Institute survey suggests.

The change, effective Dec. 21, is being put into place two years after it was first proposed.

The decline in loan activity and softening prices also helped drive down builder sentiment for the 11th month in a row.