Mortgages

The bank didn’t disclose which specific employees, or how many, were impacted by the announcement.

The government-sponsored enterprise has already done twice as many of these deals as it did during all of 2021.

U.S. consumers expect mortgage rates to increase substantially over the next several years, with households on average projecting rates of 6.7% a year from now and 8.2% in three years, according to a survey released by the New York Federal Reserve.

Different loan options to traditional mortgages can be costlier, lack consumer protections and leave debtors at risk of ownership disputes and loss of home equity.

Servicing gains failed to offset steep origination declines at the bank, which continues to battle allegations of racial discrimination.

While both refinance and purchase customers were banging down the doors in 2021, leading producers are already working much harder as they change up their offerings.

The gain on sale from first quarter originations increased as the bank shifted more volume share to the higher-margin channel.

Suburban pushback against a proposal that would have loosened regulations of new units in New York State led to its removal from the state budget.

But it was the second-most successful year ever for IMB originations since the Mortgage Bankers Association began collecting this data in 2008.

Vice President Kamala Harris will announce new steps designed to reduce the cost of federal home loans for Americans saddled with medical debt and make it easier for veterans to have loans forgiven, as part of a White House push to help the millions facing unpaid health care bills.