Redwood Trust offering $85 million of debt
Proceeds could be used to support the company's loan originations as well pay down existing debt coming due in the next three years.
Originations
Mortgage rates fall with the cooling pace of inflation
Markets appeared to welcome signs of future rate relief, with the latest Freddie Mac average falling for the fifth time in six weeks.
Mortgage application activity rebounds with 16% surge
Homeowners responded to moderating interest rates and brought in significantly more refinance volume, with Department of Veterans Affairs numbers more than doubling from the prior week.
Mortgage lock volumes trend upward amid market uncertainty
Rate locks have increased every month this year, but May's pace came in more subdued than early-year numbers, according to Mortgage Capital Trading.
Consumer sentiment lowest since post-Great Financial Crisis
A Fannie Mae survey-high 86% of prospective buyers said it was a bad time to buy a home in May.
Positive news on inflation pushes mortgage rates down
The 30-year fixed-rate mortgage average dropped back below the 7% level as investors reacted positively to news the economy is slowing, Freddie Mac said.
Home price growth moderates as inventory improves
Despite the surge of inventory, the number of available homes is still below pre-pandemic levels, while price movements show wide regional variations, ICE Mortgage Technology said.
Mortgage rates back over 7% on inflation comments
Yields on the benchmark 10-year Treasury also rose in the past week as bond and note auctions got tepid responses from investors.
Mortgage fraud risk grows 3%
Companies are seeing evidence of income falsification, which previous research shows is the most common type of fraud or defect risk.
What Fannie Mae predicts for 2024
Fannie Mae economists suggest home sales will remain resilient amid anticipated dips in both home loan volume and consumer spending.
Bank of America, MBA predict rates will hit 6.5% by year-end
BofA is betting the Federal Reserve will make only one cut to the federal funds rate by the end of this year. MBA says originators are in for a $1.6 to $1.8 trillion year.
Investor purchases increase for first time in 2 years
Compared to a year ago, investors bought a greater number of properties and made up a larger share of overall purchases, returning to the market faster than individual buyers, according to Redfin.
Rocket settles fair lending complaint with HUD
Rocket Mortgage entered into an agreement with the Department of Housing and Urban Development and will pay the consumers $65,000 to resolve the matter.
Mortgage rates drop as markets digest Fed meeting news
The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.
Mortgage lenders loosen credit but are weary for the future
Originators increased program offerings for the fifth consecutive month, but overall credit availability remains tight, the Mortgage Bankers Association said.
Chances of 2024 rate cuts dim by the month
The Federal Open Market Committee held the federal funds rate at current levels, citing "lack of further progress" toward meeting inflation goals.
Wells Fargo redlining plaintiffs seek class certification
Plaintiffs seeking class certification claim the bank uses an underwriting system that discriminates against minority mortgage applicants.
Mortgage rates rise on weak economic news
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
Are banks taking more underwriting risk?
A new Federal Reserve analysis finds rising debt-to-income and loan-to-value ratios over the past two years, while credit scores largely remained the same.
Inflation news could keep Fed to one rate cut this year
Mortgage rates rose this week as investors priced stronger than expected inflation and jobs affecting Fed moves into the 10-year Treasury.
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