Mortgages

The central bank’s new tone has many in the industry planning for potential volatility in 2022.

However, the unusual profitability residential finance firms have previously enjoyed, and a strong housing market, could help to sustain their bottom lines.

The Federal Housing Finance Agency found several comments that could lead to fair lending concerns in the “neighborhood description” section of reports.

Error findings related to income and employment reached a high point since Aces Quality Management started its report in 2016.

Activity is down 20% from one year ago, driven by a 65% falloff in rate and term refinancings, Black Knight said.

However, the seven institutions in the Office of the Comptroller of the Currency study service 13% fewer loans compared with the third quarter of last year.

While over 112,000 loans exited plans in the past week, there is only a modest opportunity for continued improvement in the near term, Black Knight said.

Canada’s national pension fund struck its first partnership to build and rent out single-family homes in the U.S., joining a rush to capitalize on a housing shortage.

But rising rates and tightening affordability are slowing appreciation rates, Black Knight found in its latest Mortgage Monitor report.

The U.S. Treasury Department will begin developing regulations that could expand reporting requirements for all-cash real estate purchases as part of the Biden administration’s efforts to cut down on global corruption, according to two senior administration officials.