Mortgages

The effects on nonbanks will depend on the mix between their production and servicing operations, Fitch Ratings said.

Privately securitized mortgages made by these institutions have already exceeded 2021 levels, however some of the collateral lacks income verification, according to a new KBRA report.

Several Sun Belt cities popular for relocation over the last two years were among markets with the most reduced listing prices in April.

Mortgage companies selling loans to the government-sponsored enterprise will be able to use the information for one type of employment check as well as to validate income and assets.

Executives at banks north of the border pointed this week to several potential U.S. economic snags, including inflation, the possibility of a housing market correction and soaring energy prices.

The acting head of the Federal Housing Finance Agency will become the first African American woman to lead the agency as a result of the vote Wednesday.

While the purchase index registered a tiny uptick, activity has fallen to nearly the same level seen during the first months of the pandemic shutdown.

Pingora Loan Servicing still hasn’t disclosed the full scope of last fall’s hack impacting at least 169,000 customers across four states.

The nation's largest bank indicated Monday that it may again offer home equity lines of credit to a wide audience. Rising mortgage rates have made the product more attractive after a long drought when low rates suppressed demand.

Depository originators lose 68 cents per $1 more than their nondepository competitors.

While longtime non-QM companies have originated mortgages in the segment for years, new contenders have come into the market as the number of potential customers who fit into the category grows.

The offering touts closings in as few as 10 days and allows homebuyers to compete with deep-pocketed investors and iBuyers.

A larger share felt it was a bad time for both buying and selling, but a growing number expect price growth to slow.

The March estimates for payrolls of nonbanks involved in home lending confirm widespread anecdotal reports of industry layoffs, but strength in broader financial-services hiring could pick up the slack.

Multiple factors have slowed residential sales, tightening the market for home loans for banks and credit unions.

The move supports strong gains coming in from this side of the business, which helped the company return to profitability in the third quarter.

Purchase numbers came in higher for both conventional and government activity, while the average loan amount shows signs of easing.

While first-quarter profits were up considerably, CEO Michael Nierenberg said the company will offer more products to counter market conditions that are “only going to get worse.”

Fair value increases on existing business and an accounting change made for troubled debt restructurings likely explain why its results contrasted those of competitor Freddie Mac.

While the government-sponsored enterprise’s single-family mortgages are still not performing as well as they did before the pandemic, the most recent vintages are getting there.