Origination

Despite rising home prices, investors are still flocking to the market—and in droves. Investment home sales grew 4.5 percent last year, while the average median investment-home price jumped 8 percent. Low mortgage rates helped to keep investors in the market as prices climbed.

Millenials don’t stay places very long, a survey from moving company Mayflower found. According to the survey, two out of five millennials, those aged 18 to 35, move to new cities without the intention to stay. These movers are what Mayflower calls “vacation movers,” or movers that do not intend to settle permanently.

On the backs of an independent investigation of its sales practices, Wells Fargo has reclaimed a total of $180 million from its former CEO and Head of Community Banking. The organization has also changed bylaws, appointed new board members, and replaced other various executives. The investigation was conducted after a lawsuit alleged the bank had opened accounts in its customers’ names without their consent.

Freddie Mac wants to help homebuyers become “mortgage-ready." The GSE is teaming up with housing intermediary Next Step Network and three nonprofit housing counseling agencies to implement an online education curriculum, with a focus on manufactured homes. Several lenders are already participating in Next Step’s SmartMH program, including Community Ventures, Credit Human Federal Credit Union, Frontier Housing, Forcht Bank . . .

Wallethub analyzed data from all 50 states and the District of Columbia to determine which states could be considered the best for millennials to live in. North Dakota was the top-ranking state on Wallethub’s overall list, but No. 2 in terms of housing affordability. That rank went to Iowa. At the bottom housing cost list for millennials was Hawaii, with its historically high cost of living.

A newly released forecast predicts home prices to appreciate 3.5 percent across the country over the next year. Denver and Seattle are slated to see the most growth, while Alabama will likely be home to the nation’s worst markets. Parts of the NE, Texas, and Florida will also see growth over the next 12 months as well.

This Wednesday, Lenders One Cooperative will release results from its survey on mortgage lender sentiment. The survey will cover jumbo loans, growth, and foreclosure, and will discuss emerging ...

Last year saw nearly $1 trillion in purchase originations, and experts say the market could top that in 2017. Millennials and first-time homebuyers may be the ones to push it over the edge, as will increasing home sales across the nation. Only a handful of states saw sales dip in 2016.

While the unemployment rate dropped in march, so did the number of jobs created in a month. The Bureau of Labor Statistics recorded the fewest new jobs created in nearly a year last month. But some experts believe winter weather could have just created a temporary blip.

On Thursday, the National Mortgage Servicers Association held a member meeting in Washington D.C., where some of the nation’s top servicers heard from Consumer Financial Protection Bureau Director Richard Cordray. This comes on the heels of Wednesday's Five Star Government Forum, where attendees listened to top-level speakers and participated in panel discussions on the economy and the future of the market.