Originations

The new fees based on the DTI, which lenders have said is too likely to vary throughout the origination process for a single loan, will now go into effect in August.

The increase reflects the rise in the 10-year Treasury yield, which is back above 4% for the first time since that month.

Persistent inflation concerns drove the 30-year average up 41 basis points this month.

The cut reverts the mortgage insurance requirement to pre-financial crisis levels.

Community Financial Credit Union is partnering with the hosts of "Bargain Block" to renovate low-cost homes and help prospective buyers qualify for their first mortgage.

The breaks for some lower-income borrowers are welcomed, but the use of debt-to-income as a differentiator could complicate originations at a challenging time, lenders say.

Updates will become effective on May 1 and a uniform mortgage-backed securities fee reduction will begin on April 1.

The move, which comes with an unspecified number of layoffs, is expected to cost the company $3.8 million to $4.6 million in pretax charges in the second quarter.

The shift opens the door for regional banks to increase their aggregation activities, analysts said.

The 30-year fixed rate surged 15 basis points from a week earlier but ends 2022 at more than twice its mark from a year ago.