Originations

Rising debt-to-income ratios were behind almost a third of refinance rejections among those 65 and older, according to an analysis from the Urban Institute.

Button Finance intends to use the capital to develop its underwriting platform and increase hiring.

Changes in the Fed, including the replacement of Jay Powell as chairman, might shift the board back to a dovish economic position.

Increased purchase activity countered a slowdown in refinance applications, which were impacted by rising rates.

However, economic data points to likely future increases, with investors awaiting numbers from upcoming jobs report.

In its initial message to the new head of the Consumer Financial Protection Bureau, the Community Home Lenders Association reiterated its call to require depository loan officers to be licensed.

Both third-party lenders will purchase conforming loans with balances of $625,000 — 14% higher than the current limit — in anticipation of regulators' action.

While PLS loans still represent a sliver of the overall mortgage market and are nowhere near the $1 trillion level seen before the Great Recession, issuance jumped markedly this year.

Taper announcement, slowing COVID cases help remove downward pressure, leading to increases across all loan-term types.

The proposal calls for a 20-year mortgage with Ginnie Mae and Treasury participation, but critics suggest that other measures would be more effective in bridging the gap in home equity.