Originations

Mortgage refinance applications reached their highest level in three years as interest rates plunged last week in the aftermath of the Federal Open Market Committee's March meeting.

New Residential priced its second stock offering in four months, looking for gross proceeds of nearly $665 million.

HomeStreet Bank will attempt to sell its stand-alone mortgage business and portfolio of servicing rights, a move that comes amid growing pressure from an activist investor to exit home lending and concerns about declining demand and regulatory challenges.

As 30-year fixed-rate mortgages rose 30 basis points year-over-year, non-QM originations are estimated to grow 400% in 2019.

Plans to begin rating securitizations backed by fix-and-flip mortgages may help lenders create new capacity and satisfy growing demand for short-term financing of house flipping projects.

Citigroup's residential mortgage originations declined 23% and its home-loan revenue dropped by 35% year-over-year in the fourth quarter of 2018, as the company continued to distance itself from home loans.

Many federal agencies have been closed for more than three weeks, making it the longest shutdown in U.S. history. With no end in sight, here's how it's affecting banks, credit unions and mortgage lenders.

As the government shutdown enters its third week, mortgage servicers are activating the response plans they normally use during hurricanes and wildfires to assist federal workers who may have trouble paying their mortgages.

Borrowers and financial institutions may be feeling the strain from reduced operations at the FHA and IRS, which has suspended the release of certain income documentation during the budget impasse.

New Penn Financial will change its name to NewRez at the start of 2019, reflecting its acquisition earlier this year by New Residential Investment Corp.