Mortgages

The varied portfolio includes loans with strong credit profiles, a WA FICO score of 734 and an original, combined loan-to-value of 68.3%.

Changes made in the waning days of the previous administration limited the government-sponsored enterprises’ purchases of certain loan types, which drew criticism from lenders and community groups alike.

Elizabeth Warren asked the Federal Reserve this week to force the spinoff of the bank’s nonbanking operations. Wells, which was recently hit with another $250 million fine, countered that it has made significant progress in improving its risk management and addressing misconduct.

The pandemic, a refinancing boom and intensified appraiser shortage boosted appraisal alternatives in line with the rise in remote work. Now an overheating purchase market and policymaker scrutiny are shifting priorities.

Southwestern housing markets had the largest annual changes in median monthly home loan payments, with one increasing more than 30%, according to Redfin.

Effects of major economic announcements this summer have had little impact on the lending market, with averages remaining under 3% since July.

Single-family home construction also increased across communities of all sizes, but notably in outlying metro areas.

About 400,000 plans are scheduled to drop out in September based on the limits afforded by the CARES Act.

The 30-year average has remained below 3% for two months.

The extension in the number of days investors are locked out of the process comes amid a broader push by the Biden administration to boost access to affordable housing.