Mortgages

The wholesale lender has a cost structure aimed at beating the competition in a rising rate environment, Chairman and CEO Mat Ishbia said on the second quarter earnings call.

While the company's mortgage originations saw a 46% annual drop in gain on sale margin, it anticipates that annual volumes will exceed 2020 levels.

The agency developed measures taking effect Aug. 31 that, among other things, will allow lenders to prioritize foreclosures of the most impaired loans and then focus on modifying salvageable ones.

The expanded credit access in its automated mortgage decisioning goes into effect in mid September.

The company attributed its second quarter loss to competitive pricing pressures and GSE-imposed charges.

Ten classes of multifamily mortgage pass-through certificates will be issued from the trust, which is secured by 29 loans on 29 properties.

An equal split of refinance and purchase rate locks occurred during July, helped by elimination of the adverse market fee, Black Knight said.

Tight inventory and heightened competition kept prime purchasers at bay as property values continued their summer surge, according to Fannie Mae.

Late payments on office loans have trended upward recently, but longer lease periods may mitigate the potential for distress in that sector, the Mortgage Bankers Association said.

The regulation of cryptocurrencies gains momentum abroad while a number of hurdles must be cleared before lenders and banks can handle them at scale in the U.S.