Homebuyers made hay while mortgage rates were down
Purchase loan applications surged for the second week in a row last week, but now rates are headed back up as worrisome inflation data casts doubts on timing of Fed rate cuts
by Matt Carter Mar 13
Guild Mortgage shrugs off 2023 loss as it pursues acquisitions
The San Diego-based lender has completed 5 acquisitions in the past 18 months in pursuit of market share, unfazed by a 21% drop in mortgage originations and a $39.1M 2023 net loss
by Matt Carter Mar 13
LoanDepot trims 2023 net loss by 37%, retains 'strong liquidity profile'
As mortgage rates soared last year, loanDepot slashed $693M in annual expenses but saw loan origination volume plunge by 58% from the year before, to $22.7B, as refinancings evaporated
by Matt Carter Mar 12
Mortgage tech provider Polly launches new intelligence platform
Polly says Lender Intelligence harnesses advanced data science and machine learning tools to give lenders a holistic view of their business and the wider competitive landscape
by Matt Carter Mar 12
UWM raises more than $1B by tweaking mortgage servicing
Nation's largest mortgage lender trims its $300B servicing portfolio by nearly one-fourth, selling $70B in mortgage servicing rights for $941.2M, excess cash flows on $19.4B in loans for $150.9M
by Matt Carter Mar 12
Housing Secretary Marcia Fudge stepping down March 22
Surprise announcement comes on same day Biden administration rolls out $7.3T budget proposal that would provide $258B to expand access to affordable housing
by Matt Carter Mar 11
Biden's relaxed new Freddie, Fannie refi requirements irk title industry
In a pilot program announced last week, the Biden administration cleared the way for Fannie Mae and Freddie Mac to let some homeowners refinance mortgages without paying for title insurance
by Matt Carter Mar 11
This first-time homebuyer program is like winning the lottery
California Housing Finance Agency to use lottery system to allocate $220M in 'Dream for All' shared appreciation loans that cover down payments for eligible first-time homebuyers
by Matt Carter Mar 7
Biden proposes $5K tax credit for first-time buyers in SOTU address
The set of new housing initiatives also includes a 1-year tax credit of up to $10K to households that sell their starter home. NAR applauded the president's commitment to aiding the industry
Homebuyers sit up and take notice as mortgage rates fall
Purchase loan applications jump by a seasonally adjusted 11% after 5 consecutive weeks of declines as mortgage rates continue to retreat from 2024 highs
by Matt Carter Mar 6
Argyle sees path to profitability with $30M Series C raise
Integrations helped the income and employment data provider grow its mortgage customer base and attract backing from Rockefeller Asset Management’s Fintech Innovation Fund
by Matt Carter Mar 5
NYCB's surprise $2.7B Q4 loss rekindles regional bank fears
Worries about commercial real estate are making jumbo mortgages costlier, since regional banks are a major provider of loans that are too big for Fannie Mae and Freddie Mac
by Matt Carter Mar 1
Scarce inventory, falling rates could boost home prices
In December, a Pulsenomics panel of more than 100 housing experts expected homes to appreciate by 2.4% in 2024. Now they're predicting prices will go up by 3.8%
by Matt Carter Mar 1
Mortgage rates ease for 2nd consecutive day on inflation data
'Quantitative tightening' — the Federal Reserve's moves to trim $35B in mortgages from its balance sheet each month — could keep mortgage rates from falling dramatically this year
by Matt Carter Mar 1
New rules for scoring mortgage borrowers coming in Q4 2025
Fannie and Freddie's federal regulator wants lenders to synchronize adoption of bi-merge credit reporting with more inclusive FICO Score 10T and VantageScore 4.0 scoring models
by Matt Carter Feb 29
Latest inflation numbers give mortgage rates some room to fall
A key Fed inflation metric, the PCE price index, continues to drop toward the Fed's 2% inflation target, falling from 2.6% annual growth in December to 2.4% in January
by Matt Carter Feb 29