Federal Reserve Chair Jerome Powell said the Federal Open Market Committee will maintain a “brisk pace” of qualitative tightening.

The Mortgage Bankers Association projected that purchase originations will grow 11% next year to $1.47 trillion.

VantageScore expanded the borrower base; mortgage interest rates increased for seventh consecutive week; Blend tech offering for nonbanks; MISMO updates.

Mark Jones, 2024 chairman of the Mortgage Bankers Association, sympathized with lenders who are going through the uncertainties of a steep market downturn.

Better went from more than 10,000 employees in 2021 to fewer than 900 as of Sept. 1; lenders start early on 2024 loan limits; mortgage lock-in easing; MISMO initiatives; tool to check for appraisal bias; automated title reviews; insurance platform raises funds.

The MBA, NAHB and NAR want the Fed to announce it’s done raising interest rates and that it won’t sell MBS holdings until there’s some stability in the housing market. The request could fall on deaf ears.

Uncertainty over the future of interest rates is hampering the housing market, according to economists.

The GSEs provided new disclosures on temporary buydowns. Borrowers most commonly take a buydown that lasts no more than two years and usage of the feature is declining amid elevated interest rates.

ICE-Black Knight consummate merger; AmeriFirst files for bankruptcy; Integro Bank forays into mortgages; rate hikes could be finished.

High interest rates are cutting into demand for mortgages; many consumers’ expectations for interest rates are wrong; ICE and Black Knight move close to merger; servicer using blockchain, lender guarantees underwriting results from AI; Flagstar’s mortgage tech accelerator; mortgage payoff fraud attempts increase.