Regardless of race and gender, the likelihood of a young adult becoming a homeowner depends significantly on how wealthy his or her parents are, according to a new study by The Urban Institute. The analysis found that parental homeownership alone increases a young adult’s likelihood of owning a home by 7 to 8 percent. The report found that compared to prior generations, millennials are less likely to be homeowners. Researchers also found persistent racial and ethnic disparities ...

Cracks began to appear in the housing market during the third quarter of 2018, leading to a modest decline in purchase-mortgage originations, but industry experts continue to predict a rebound next year. [Includes four data charts.]

Observers note that CFPB nominee Kraninger has no track record in financial services…

Purchase loans accounted for over 80.0 percent of third-quarter production at Wells Fargo, PennyMac Financial, Caliber Home Loans, U.S. Bank and Amerihome…

Ocwen, which paid $360 million in cash for PHH, also disclosed: “The purchase price we negotiated contemplated PHH could continue to incur losses.”

The volume of purchase mortgage originations will increase in 2019 even though interest rates will be higher, according to industry economists. Purchase mortgage originations will be boosted to some extent by a rise in employment and wages along with demographic shifts.

The government charges, the “apples to apples” comparisons on refis shown to prospective customers by Village Capital’s LOs were flawed and had “inaccurate” results.

Carrington Mortgage is working on its first non-QM securitization...

In past downturns, large lenders and servicers were either sold outright or they joined forces with like-sized companies…

Some industry lobbyists believe the Senate Banking Committee hearing on GSE pilot programs will not be held this year at all.