Homebuyer mortgage demand falls even as rates ease from 2022 highs
Economic uncertainty and stock market volatility may have helped drive 12% decline in prospective homebuyers’ purchase mortgage applications, delaying home searches
by Matt Carter May 18
Tomo provides mortgages in 9 states, adds Georgia, North Carolina
Fintech focused on purchase mortgages planning to add more markets and more mortgage products later this year, now doing business in more than 1/3 of U.S. markets
by Matt Carter May 17
Power Buyer Orchard now serving first-time homebuyers
After piloting cash-offer product in Texas and Colorado, company plans to offer Buy With Orchard in all of its markets in the months ahead
by Matt Carter May 17
Guild Mortgage rolls out cash offer program in 11 states, more to join
Guild's CashPass program is available for primary residences, second homes or investment properties, with down payments depending on occupancy
by Matt Carter May 16
Opendoor's growth has 'materially accelerated': DelPrete
2021 was a record year for Opendoor — and the latest data suggests that 2022 may turn out to be even bigger
by Mike DelPrete May 16
Polly integrated with all 6 primary mortgage insurers
Ability to retrieve quotes helps borrowers assess their options and streamlines the mortgage insurance process for lenders
by Matt Carter May 15
Redfin economist: The Fed can change its mind
Abrupt policy shift not expected, but Fed chair confirms that, 'If things come in better than we expect, then we’re prepared to do less'
by Matt Carter May 13
Blend Labs sees Q1 loss soar by 167% as rising rates curb refis
Blend's net loss for the quarter — up 167% from a year ago — came despite a 124% year-over-year increase in revenue, to $71.5M, according to an earnings call on Thursday
by Matt Carter May 13
As hate crimes rose, 70% of Asian buyers moved to safer areas in 2020
Discrimination, mortgage readiness and affordability continue to be significant hurdles for Asian American and Pacific Islander communities, according to new report released Wednesday
by Marian McPherson May 12
Homeowner equity increased 3% during Q1
Nearly 45% of homes in the country were considered equity rich, up from 41.9% in the fourth quarter. But the rising values are creating barriers for first-time buyers
by Ben Verde May 11
Digital title insurer Doma laying off 310 employees as refis plummet
Executives say layoffs will save the company about $30M a year and help it bring its technology to bear on purchase mortgages
by Matt Carter May 11
Homebuyers showing 'some resiliency' to higher rates
Demand for purchase mortgages increases for a second week in a row, but borrowers are increasingly turning to adjustable-rate loans
by Matt Carter May 11
Rocket says it's preparing for further declines in mortgage profits
Buyout offers to approximately 2,000 workers are expected to save nation's biggest mortgage lender roughly $180M per year, according to a Q1 earnings call on Tuesday
by Matt Carter May 11
Morty now providing jumbo mortgages up to $3M in 44 states
Online mortgage marketplace focused on homebuyers has doubled its headcount over the last year to 70, as it continues to pursue a goal of serving homebuyers nationwide
by Matt Carter May 11
LoanDepot to lay off workers as originations plunge 48%
Mortgage lender suspends its quarterly dividend after posting a $91.3 million first quarter loss
by Matt Carter May 10
Zillow flexes in the face of a cooling market: DelPrete
Zillow and Realtor.com's Q1 results shine a light on two key factors: overall revenue growth is slowing and Zillow's next-gen lead gen business, Zillow Flex, is building momentum
by Mike DelPrete May 10