Short Takes: Weak Demand for Purchase Mortgages / Uncertainty Among Homebuyers / Investors Step Up / M&T Downgraded May 15, 2024 Brandon Ivey The decline in demand for purchase mortgages was most prominent for FHA mortgages, where applications declined by 9% on a weekly basis.Read More
Another Loss for Better; Lender Sees Traction on HELOCs May 14, 2024 Paul Muolo Better's gain-on-sale margin improved to 237 basis points in 1Q24 from 203 bps for all of 2023...Read More
HUD Seeks Additional Funds for Affordable Housing May 14, 2024 Monica Hogan The funding request includes $81.3 billion for HUD programs to increase the housing supply and lower homeownership costs.Read More
Short Takes: HPA Expected to Slow / Locks for Purchase Mortgages Increase / Rocket Settles With HUD on Fair Lending / First-Generation Homebuyer Product May 14, 2024 Brandon Ivey Home price appreciation in 2024 is expected to be well below the 5.5% annual appreciation seen in 2023, according to Fitch Ratings.Read More
Guild Boosts Originations and Earnings in First Quarter May 10, 2024 Brandon Ivey Guild generated a profit of $28.4 million in the first quarter of 2024.Read More
Rate Lock-in Not Primary Factor in Moving Plans May 9, 2024 James Dohnert A new survey shows that higher interest rates may not be the only thing stopping homeowners from moving.Read More
Loss Widens at loanDepot, GOS Improves May 8, 2024 Paul Muolo A cyber "incident" cost loanDepot at least $15 million in charges for the first quarter of 2024.Read More
Credit Score Costs Jump; Lenders Point to Lack of Competition May 8, 2024 Dennis Hollier FICO CEO Will Lansing addressed the criticism over the price increases, saying the firm was “catching up from 30 years of frozen pricing.”Read More
Short Takes: McCargo Moves On to FHLBank / Refis Drive Applications Up / Home Sales Expected to Increase / LO Comp Following Cyberattack May 8, 2024 Brandon Ivey Alanna McCargo was appointed as president and CEO of the Federal Home Loan Bank of San Francisco.Read More
Correspondent Channel Loses Share in Agency Market May 7, 2024 Andras Malatinszky The steepest drop took place at Freddie, while Ginnie securitizations were relatively unscathed.Read More
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