Mortgages

The 30-year fixed rate surged 15 basis points from a week earlier but ends 2022 at more than twice its mark from a year ago.

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

The overall share of distressed mortgages fell in every state, but the effects of Hurricane Ian led to a small uptick in early-stage late payments compared to one year ago, CoreLogic said.

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

Foreclosure starts also increased by over 19% between October and November but remain below pre-pandemic levels.

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

Loans with payments late by a year or more were the biggest sub-category within the distressed portfolios a year ago, but now mortgages that've been late for 30-59 days are.

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

The uptick in the 60-day-plus metric could reverse the bulk of the decline that occurred between 2019 and 2021.

The Lansing, Michigan-based firm was awarded the contract this spring and takes over from Novad Management Consulting, which had previously serviced government-held HECMs since 2014.