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Housing Supply, Affordability Issues Expected to Persist

April 5, 2024
Monica Hogan
Mark Jones, chair of the Mortgage Bankers Association, expects home sales to remain suppressed due to limited supply and elevated interest rates.
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Better Shifts to Commission Model for LO Compensation

April 5, 2024
Brandon Ivey
Better saw improvements in its pull-through rates in a pilot program in which the lender paid its LOs commissions. The lender found that its no-commission model didn’t work well for purchase mortgages.
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Lender, Real Estate Agency Mergers Show Mixed Results

April 5, 2024
James Dohnert
A new research paper finds that mergers between real estate agencies and lenders can help boost origination market share but can also cost borrowers more in the long run.
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FDIC Working to Boost Mortgage Lending by Banks

April 5, 2024
Brandon Ivey
The FDIC’s updated economic inclusion strategic plan includes a goal to increase mortgage lending by banks. The plan leans heavily on education and outreach, though CRA credit could also be an option.
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UWM Loses Bid to Move Employment Dispute to Arbitration

April 5, 2024
James Dohnert
A Michigan appeals court judge affirmed that UWM’s move to compel arbitration in a dispute with a former employee was seven months too late.
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Grapevine: Lenders Meeting Borrower Expectations; Rates Too High

April 5, 2024
Brandon Ivey
The mortgage process met or exceeded the expectations of many homebuyers; interest rates look to be too high for potential homebuyers; the defect rate on mortgages declined again; tech vendor raises $19 million; Altisource Asset Management exits mortgage market.
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More Talk Than Action in Congress on Housing Affordability

March 22, 2024
Monica Hogan
Most lawmakers and industry stakeholders drew attention to the need for more housing supply.
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Guild, loanDepot Take Losses in Fourth Quarter

March 22, 2024
Brandon Ivey
Two large nonbank retail lenders took losses in the fourth quarter, with officials stressing that better days are ahead. Guild is growing through M&A while loanDepot is reducing its staffing.
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Lenders Advised to Prepare for Cyberattacks

March 22, 2024
Shannon Clark
Mortgage companies need to have a plan and a team in place to handle potential cyberattacks, according to security experts.
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Hispanic Homeownership Rate Nears 50%

March 22, 2024
Monica Hogan
The National Association of Hispanic Real Estate Professionals called for more public policy to support Hispanic lending, including through special purpose credit programs.
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