Banks and thrifts reported significant declines in loan origination volume and loan sales during the third quarter. Even their loan pipelines contracted drastically. (Includes two data charts.)

Both Moody’s and Fitch expect a recession in 2023. But, unless conditions change markedly, they predict the impact on the housing market will be limited on a national basis.

The wholesale lender announced a $500 credit for borrowers seeking Fannie Mae HomePath properties. The program is one of a slew of discounts offered in the past year by lenders trying to generate volume.

COVID sent home prices soaring and sped up sales. But it also created a spike in the proportion of homes removed from the market.

Structural inequities make it more difficult for Black households and other people of color to make on-time rental and utility payments compared to the average white household, the Urban Institute noted in a new report.

While interest rate hikes are deflating originations, lenders aren’t budging much on underwriting standards for purchase mortgages, based on an analysis of mortgages delivered to the GSEs in the third quarter. (Includes two data charts.)

Among purchase mortgages with primary mortgage insurance, GSE volume declined in the third quarter while FHA and VA volume increased. California also lost its spot as the top source of loans with MI. (Includes two data charts.)

New Zealand researchers find that analysis of a borrower’s digital footprint improves loan performance and reduces discrimination.

Rate locks jump; home prices decline for second consecutive month; the remote work factor; website will connect borrowers with brokers; new loan origination system promises “fun.”

The California-based mortgage servicer also exited correspondent lending.