Originations

Home loan applications dropped for the second time in three weeks, with the 30-year conforming interest rate ticking up 13 basis points, according to data from the Mortgage Bankers Association.

Chase, Wells Fargo both reported increased gain on sale margins in the first quarter over the fourth, a potentially promising indicator for upcoming IMB earnings.

The American Bankers Association's latest Credit Conditions Index points to a drop in lending and a rise in loan delinquencies through the second and third quarters.

The agency, which oversees government-related investors that set underwriting parameters in the U.S. mortgage market, estimates the process will begin in 2024.

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.