The coming year should bring greater origination volumes to the home finance industry. But CEOs shouldn’t order that new Tesla quite yet. To get there, a spark is needed: 5.5% conventional rates, at least.
If the GSEs required stricter energy codes on new homes, savings on utility bills would cover borrowers’ costs within three years, a coalition of advocacy groups said in a letter to the Federal Housing Finance Agency.
The company experienced a cyberattack Dec. 20 and took various systems offline to address the issue. System access started to be restored late last week and First American cautioned that sensitive data had been accessed.
Originations of home equity lines of credit and closed-end second liens declined somewhat in the third quarter. Home price appreciation was offset by rising interest rates. (Includes three data tables.)
Nonbanks regained market share among the top 100 mortgage producers in the third quarter despite a small decline in volume. First-lien lending at small banks and credit unions was up. (Includes two data tables.)
CrossCountry Mortgage owner Ron Leonhardt wants his nonbank to be the largest lender in the land. One way to do that is to buy other shops — and it looks as though CCM has another target in its sights.
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