Call to end rate hikes grows louder as housing groups confront Fed
MBA, NAR and NAHB warned in a joint letter Monday that uncertainty over the Federal Reserve's next moves is disrupting the housing sector and threatens to send the US economy into a tailspin
by Matt Carter Oct 9
Homebuyer pessimism climbed to a new record high in September
According to Fannie Mae's National Housing Survey, 84% of Americans polled said it was a bad time to buy a home, and most weren't expecting mortgage rates to come down anytime soon
by Matt Carter Oct 9
Interest rates surge again on surprisingly strong jobs report
Employers added 336,000 jobs in September, the biggest jump since January, raising the odds that the Fed will pursue 'higher for longer' rate strategy to get inflation under control
by Matt Carter Oct 6
Institutional investors warming up to home equity agreements
DBRS Morningstar's rating of $224M securitization by Unlock and Saluda could boost investor appetite for agreements that let owners cash out equity in exchange for a stake in their home
by Matt Carter Oct 6
The current impact and future implications of mortgage AI
AI is making mortgage lending quicker and smarter. Lender Price CEO Dawar Alimi breaks down its impact and what's to come
by Dawar Alimi Oct 5
Soaring rates baffle economists, frustrate housing leaders
Economists are scratching their heads, and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than 2 decades
by Matt Carter Oct 4
Better executives stand to collect up to $17M in 'DeSPAC' bonuses
The mortgage lender said $100M in retention bonuses were distributed to employees in April, as promised, including $50M from Better co-founder and CEO Vishal Garg's personal equity
by Matt Carter Oct 4
Big Keller Williams franchise group launches mortgage JV with Newrez
One of Keller Williams Realty's biggest franchise groups, Georgia Legacy Group, partners with national mortgage lender and servicer Newrez to launch a joint venture, Onward Home Mortgage
by Matt Carter Oct 3
Splitero no longer accepting shared equity applications
In a separate announcement, San Diego-based fintech announces launch of new real estate brokerage, Splitero Homes, to help homeowners in 4 states 'sell for the highest price'
by Matt Carter Oct 3
Bond yields soar again on Fed governor's hawkish remarks
Fed Governor Michelle Bowman warns bankers that she thinks the Fed may need to hike rates more than once and keep them high next year to get inflation under control
by Matt Carter Oct 2
Rocket Mortgage now pricing loans of up to $750,000 as conforming
The move could help qualifying borrowers avoid taking out a jumbo mortgage at a higher rate as Rocket gets a jump on an expected increase in Fannie Mae and Freddie Mac's 2024 loan limits
by Matt Carter Oct 2
Oldest US community bank to pay $9M to settle redlining allegations
Washington Trust 'vehemently' denies the allegations but joins a long list of lenders who have coughed up $98M in settlements since the DoJ launched an anti-redlining initiative in 2021
by Matt Carter Sep 29
Mortgage demand fades as buyers watch rates hit 2-decade high
Fed's 'higher for longer' rate strategy drives yields on long-term Treasurys higher, and mortgage rates follow to highest levels in over 20 years, MBA lender survey shows
by Matt Carter Sep 27
Fannie, Freddie may get green light to buy more shared equity loans
Between 2018 and 2020, Fannie and Freddie purchased close to 600 shared equity loans, before realizing that current regulations might prohibit them from doing so
by Matt Carter Sep 27
Newzip signs another lender to its agent-matching service
SECU of Maryland is the fifth credit union to sign with Newzip, which helps more than 20 lenders court homebuyers by offering them discounts when they agree to work with preferred agents
by Matt Carter Sep 27
Damn the torpedoes! Maxwell full speed ahead on acquisitions
The Denver-based mortgage tech provider is open to more deals after acquiring LenderSelect and Revvin and becoming a one-stop shop for more local lenders during a cyclical market downturn
by Matt Carter Sep 27