Originations

Executives speak on the uncertainty created by the Russia-Ukraine war and Federal Reserve announcements.

Purchase lending grew despite headwinds in mortgage rates and rising home values.

In addition to the Russia-Ukraine conflict, persistent inflationary pressures and expected monetary policy moves are contributing to volatility.

The $1.7 trillion in purchase lending for the year is the most ever recorded according to Black Knight’s January Mortgage Monitor Report.

The effect of the conflict and upcoming Fed announcements have left much of the industry guessing about what happens next.

The Mortgage Bankers Association now predicts slightly more purchases even with higher rates, but the Ukraine situation could change that.

Strong economic data was countered by international political developments, sending the 30-year rate lower for the first time in a month.

Overall application activity was down by more than 40% compared with one year ago, the Mortgage Bankers Association found.

The complaint seeks unspecified damages over the bank’s mortgage origination and underwriting practices, alleging minority homebuyers were excluded from affordable, low-risk loans.

Danny Yen, owner of Real Estate Educational Services, received a permanent ban on conducting future related training and agreed to testify in any legal proceedings against originators he assisted.