Originations

ACNB is acquiring Traditions Bancorp in an in-market deal where the latter's mortgage ops will add to its insurance and wealth management units.

The final rule governing the use of automated valuation models for home assessments is substantially similar to the initial proposal made last June.

Declining refinance activity offset the growth in government-backed purchases, the Mortgage Bankers Association said.

The bank acquired these business purpose non-qualified mortgage loans originated by Civic Financial Services in the PacWest Bancorp deal.

But economists seem to differ on what the latest movement in mortgage rates means for the summer home sales business.

The decline for the third consecutive week reflects investors' belief that the Federal Open Market Committee is likely to cut rates this year.

The partnership between personal finance platform Esusu and the National Rental Home Council has several of the trade group's members delivering payment data. They say that has helped result in over 85,000 originations across lending segments.

A decline in interest rates during the first quarter drove a Freddie Mac indicator higher for the first time since mid-2023, while a leading investment firm announced a deal aimed at boosting originations for government-sponsored enterprise financing.

Proceeds could be used to support the company's loan originations as well pay down existing debt coming due in the next three years.

Markets appeared to welcome signs of future rate relief, with the latest Freddie Mac average falling for the fifth time in six weeks.