Originations

Relationships with brokers will be terminated on Dec. 6, but company officials stressed there would be no impact to its loan servicing or other mortgage channels.

The program helped more than 23,000 consumers establish credit scores in its first year through partnerships with three fintechs, all of which were chosen to renew their participation.

Broader economic factors, including growing household debt, are also likely to keep the housing market stagnant, Freddie Mac said.

Even though it is less than two years since it allowed Fannie Mae and Freddie Mac to accept such valuations, it is difficult to evaluate their effectiveness without such examinations.

American Bank of Oklahoma agreed to a consent order in August to settle allegations from the Department of Justice over redlining. However, the institution strenuously objected to references to the Tulsa Race Massacre in the agreement and asked that the language be stricken.

While the latest change applies specifically to COVID forbearances, the agency is looking at more options for alternatives that can be offered on a regular basis, Director Sandra Thompson said.

The Federal Housing Administration could increase the limits for loans it insures in this market, a congressional oversight agency said in a new report.

A continued slowdown in refinances, though, drove overall loan-application volumes lower last week, even as the Government Index posted a small gain, according to the Mortgage Bankers Association.

Overall rate locks dropped 1.5% on a month-to-month basis; the drop in purchase volume was higher at 1.9%, Black Knight said.

Both purchases and refinance volumes climbed higher, as interest rates flattened following earlier volatility, according to the Mortgage Bankers Association.