The retail channel led the decline in originations of conventional-conforming mortgages in the third quarter. And third-party originators managed to slightly increase their activity in the government-insured market. (Includes two data charts.)
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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.)
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Wells Fargo and PNC Bank posted sharp declines in repurchases from the second quarter, though their year-to-date volumes were up from the first nine months of 2021. (Includes data chart.)
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Will the last federally insured depository in wholesale lending please turn off the lights when it leaves? After buying MUFG Union, U.S. Bank is pulling the plug on Union Bank’s loan broker business.
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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.
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Institutional investors are increasingly scooping up affordable single-family homes, creating an unlevel playing field for low-income first-time homebuyers, affordable housing advocates said at a recent HUD event.
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