WaFd is the latest bank to exit mortgage lending
Commoditization of mortgages, plus technology that eases the refinance process, and the regulatory environment, all contributed to the decision.
Originations
Seniors’ home equity drops on lower values, more debt
Even though senior home values are still near the all-time high, other data shows fewer are turning to reverse mortgages to ease a potential financial crunch.
Mortgage rates likely to go back over 7% as they rise again
The Freddie Mac mortgage rate tracker on Thursday morning showed the conforming 30-year fixed rate mortgage creep closer to the 7% level last seen in May.
Jobs, rates and insurance influence Freddie’s 2025 outlook
Mortgage rates should decline very gradually next year as the Federal Reserve will keep to its implied path of short-term rate reductions, Freddie Mac said.
CFPB sues Rocket Homes, brokerage over kickback scheme
The watchdog accuses Rocket Homes and The Mitchell Group brokerage of initiating a plan to generate origination business for Rocket Mortgage.
Mortgage rates again move opposite Fed’s actions
Over the past two weeks, the 10-year Treasury yield, priced on market expectations, increased over 40 basis points and that is finally being seen in the Freddie Mac survey.
Prepare for a wild ride in 2025, Fannie Mae warns
Mortgage originators should expect more of those interest rate dips that took place in September, but when they happen is the unknown factor, economists said.
Government-backed credit tightens to decade-low
But the Federal Housing Administration program was the only mortgage loan type to gain market share month-to-month as measured by rate lock percentage.
Home equity growth hits the brakes
The share of underwater mortgages also grew for the first time in almost two years during the third quarter, Corelogic found.
Unpacking the drivers and costs of GSE repurchase demands
The average cost for a loan seller to buy back a mortgage from Fannie Mae or Freddie Mac for defects is over $32,000, a study from Reggora and Stratmor found.
Mortgage rates waiting on economic clarity for the market
For the second time in the past three weeks, the 30-year fixed mortgage moved lower, but investors want clarity about U.S. economic policy, Freddie Mac said.
Ginnie Mae finalizes reverse-mortgage buyout relief terms
Government securitization guarantor Ginnie Mae got the terms for the popular HMBS 2.0 program across the finish line ahead of a major change in federal leadership.
Real estate investors pull back on home buying in Q3
Investors bought 15.9% of U.S. homes sold in Q3, according to Redfin, a level similar to 2018 and 2019, when the share was around 14%.
CFPB’s Chopra: AI can be the key to fairer credit scoring
Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.
Mortgage defect growth points to emerging concern
Critical defects increased for the second consecutive three-month period, with appraisal-related errors nearly doubling, Aces Quality Management said.
Gen Z’s share of the mortgage market is about to quadruple
Those born between 1997 and 2012 will go from making up a scant 6% of today's market to a 25% share by 2028, and mortgage lenders need to be ready to serve them.
How Trump’s win impacts the 2025 RMBS outlook
Private-label securitization volume increased 75% this year versus 2023; conditions are right for that to continue, KBRA said.
Latest mortgage rate report doesn’t help borrowers
Mortgage rates have stopped the run of increases following the September Fed meeting but consumers are not likely to notice.
How mortgage bankers performed financially in 3Q24
Lower rates during the period helped independent mortgage bankers make money on their originations but they posted losses on servicing.
How ending the GSE conservatorships affects mortgage rates
The Trump victory is considered a positive for changing the status of Fannie Mae and Freddie Mac, but what would that do to interest rates?
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