Origination

While U.S. pandemic migration trends show no sign of reversing, Bank of America Institute's latest housing market report revealed home prices are slowing rapidly even in cities with large inflows of people.

Twenty-five-year senior finance specialist and former CoreLogic exec tapped to manage loanDepot’s financial functions, including its accounting, treasury, tax, corporate finance, and investor and lender relations activities.

“It's crucial, especially in higher-rate environments, for Americans to talk to a mortgage advisor who can help prepare buyers for the homebuying process, work to determine how much a person can afford and clear up the misconceptions about the many paths to homeownership that exist," said Thomas Parrish, Head of U.S. Retail Lending Product Management at BMO.

As affordability struggles worsen for homeowners and buyers nationwide, for-sale inventory is now at its lowest level since April 2022, according to Black Knight's latest Mortgage Monitor Report for April.

Following The Loan Store’s acquisition of certain assets of Homepoint’s wholesale originations channel, 26-year industry veteran officially takes over the role of CEO.

Along with a lack of inventory in the nation’s housing supply, Freddie Mac reports the 30-year fixed-rate mortgage continues to edge toward the 7% mark, further dampening the spring homebuying season.

"Lenders saw opportunities dwindle even more during the first quarter as the longest slowdown in mortgage activity in at least 20 years continued," said Rob Barber, CEO at ATTOM.

“Weakening home price growth for the past 12 months is increasing the odds that we may not see a new home price peak this year, for the first time in the history of our listing data, which dates back to mid-2016, and this is likely welcome news to homeshoppers," said Danielle Hale, Chief Economist for Realtor.com.

A series of actions set forth by the Biden Administration aims to strike out appraisal bias and level the playing field in building generational wealth via homeownership.

In the deal, Planet Home acquires a majority of Platinum Home's origination staff, including more than 20 branch offices in strategic locations nationwide.