The UK will let individual lenders exceed the 15% high loan-to-income mortgage threshold from October 28 while keeping a market-wide safeguard and existing affordability checks.
Thirty-year mortgage rates stayed in the mid-7% range, pressuring affordability as soft application demand underscored the strain on U.S. homebuyers.
Florida regulators approved an average 12.8% renters insurance rate cut for about 121,898 American Modern HO-4 policies, with the new rates taking effect Oct. 11 for new policies and renewals.
Fannie Mae’s latest Selling Guide update gives lenders more flexibility in how they verify employment and broadens when attorney opinion letters can be used in place of a lender’s title insurance policy.
France’s new Bpifrance facility offers eligible small and midsize marine fishing and aquaculture businesses €3,000 to €50,000 for 36 months, with a 12-month principal deferral and no borrower guarantee.
U.S. single-family home prices increased in July after holding flat in June, while regional results showed a wide gap between the Middle Atlantic and Mountain divisions.
Neuberger Specialty Finance will purchase up to $700 million of auto loans sourced through Pagaya’s network, adding committed funding capacity as the company’s auto business expands.
New mortgage commitments rose only 1.3% year over year to £79.2 billion, while loans above 75% LTV took their largest share of advances since late 2007.
Eligible online purchases of $49 or more can be financed through fixed monthly installments, with approved passholders able to use Season Pass benefits before repayment is complete.
Former AvalonBay holders now own about 51% of Vivmark, which starts trading as VMRK Tuesday with more than 184,000 apartments and $4.4 billion under construction.