Strong residential activity pushes US construction spending

Spending on construction projects has continued to climb in the US as the COVID-driven housing boom continues into 2021. A report from the US Commerce Department released Monday showed strong demand and ultra-low mortgage rates pushed US construction spending up by 0.9% to an annual rate of $1.459 trillion in November. The increase followed a…

Could 2021 be the year of consolidation in mortgage lending?

The record year of volume enjoyed by the whole of the mortgage industry may have fundamentally changed the mortgage landscape. On top of record profitability and huge revenues enjoyed thanks to the current low-rate environment, lenders have built huge cash reserves and many have accessed public capital through wildly popular IPOs and SPAC offerings. The…

How can originators avoid legal pitfalls this year?

With one high-volume year in the books, mortgage pros are staring down a very busy 2021. That means a lot of calls, a lot of meetings, and a lot of paperwork as you try to secure loans for clients in an increasingly competitive purchase market. That volume and rush, however, can have some compliance consequences…