CFPB is latest target of Trump's downsizing government campaign
Congressional Democrats vow to fight moves to 'unlawfully delete this popular consumer watchdog that enjoys the broad bipartisan support of 4 out of 5 Americans'
by Matt Carter Feb 10
Anxiety over mortgage rates, rent and home prices begins to mount
Inflation expectations surged after President Donald Trump announced plans to impose tariffs on goods from China, Canada and Mexico, a new University of Michigan survey of consumers finds
by Matt Carter Feb 10
Pullback in mortgage rates spurs refis but not purchase loans
Requests to refinance were up 12% week over week and 17% from a year ago last week after rates for 30-year fixed-rate loans pulled back to the lowest level in 6 weeks
by Matt Carter Feb 5
Optimal Blue is about to drop an AI assistant aimed at mortgage execs
Conversational generative AI chat assistant, Ask Obi, is aimed at providing high-level insights 'to better understand the data that drives their business,' Chief Product Officer Erin Wester says
by Matt Carter Feb 5
Better waiving $995 origination fee for repeat mortgage customers
'Better Forever' incentive will not be offered on HELOCs, nor to borrowers who apply for a mortgage through third-party platforms like LendingTree, CreditKarma, Bankrate or Nerdwallet
by Matt Carter Feb 5
LoanDepot partners with factory homebuilder Onx Homes
With listings scarce and refinancings sluggish, the strategy of partnering with homebuilders to form joint ventures like Onx X+ Mortgage is to grow loanDepot's purchase loan business
by Matt Carter Feb 5
Senate confirms Scott Turner as HUD secretary in 55-44 vote
Former Texas state representative and NFL star Scott Turner will now lead the Department of Housing and Urban Development after being confirmed in a Senate vote of 55-44
by Marian McPherson Feb 5
Inventories on track to normalize in 40% of US markets this year
After growing by 22% last year, inventory is 'a bright spot for a market that’s been dealing with deep deficits in recent years,' according to ICE Mortgage Monitor report for February
by Matt Carter Feb 4
Wells Fargo closes 2 more consent orders in quest to shed asset cap
Getting out from under $1.95T cap would allow bank to grow its deposit base, providing more room on the balance sheet to originate jumbo mortgages too big for Fannie and Freddie
by Matt Carter Feb 4
Rules on closing costs, PACE loans on CFPB chopping block
In his 1st act as interim Consumer Financial Protection Bureau director, Scott Bessent froze action on all rules and litigation. Here's what that potentially means for the mortgage industry
by Marian McPherson Feb 4
LoanStream Mortgage exec arrested after fatal car accident
President of Irvine, California-based wholesale mortgage lender with history of drunk driving convictions arrested on suspicion of murder after 88-year-old man is killed in head-on accident
by Matt Carter Feb 3
87% of mortgage lead gen comes from referrals and past clients
When it comes to mortgages, Mike DelPrete writes, online lead generation is certainly a piece of the puzzle, but it pales in comparison to the power of referrals and existing relationships
by Mike DelPrete Feb 3
Cash offer pioneer Evergreen Home Loans expands to Southeast
Partnerships with agents and builders lay the groundwork for a foray into Florida, Georgia, North Carolina, South Carolina, Tennessee led by former Guild Mortgage exec John Porath
by Matt Carter Jan 31
Homebuilders anxiously await details on Canada, Mexico tariffs
Bond market investors who fund most mortgages didn't panic Friday over reports that the US will impose tariffs on China, Canada and Mexico on Saturday, but details remain sketchy
by Matt Carter Jan 31
Ted Cruz aims to defund CFPB with implications for lender oversight
Although the agency was created by Democrats in an effort to protect consumers from abusive financial practices, it has continued to be viewed by Republicans as an unchecked power
by Lillian Dickerson Jan 31
With fraud ever-prominent, Closinglock secures $34M Series B
While many brokerages, banks and title companies offer very secure solutions, many still do not. The loss of funds due to fraud remains a major industry issue, to the tune of close to $3B in 2023
by Craig C. Rowe Jan 30