Strength in home prices helped boost Fannie, Freddie 2023 profits
With a combined net worth of $125B after earnings this week, the mortgage giants remain on a path that could lead to eventual release from government conservatorship if political winds shift
by Matt Carter Feb 16
Better Mortgage expands offerings to include VA loans in all 50 states
Veterans and active duty servicemembers can use the company's Tinman platform to see their rates and get pre-approved in minutes and may qualify to buy a home with no down payment
by Matt Carter Feb 15
Demand for purchase mortgages drops for 3rd week in a row
MBA lender survey shows applications from homebuyers are down 12% from a year ago, as mortgage rates continue to rebound from December lows on stubborn inflation data
by Matt Carter Feb 14
New credit scores from FICO, VantageScore gaining traction
Lenders won't be required to use the more inclusive FICO Score 10T and VantageScore 4.0 scoring models before next year, but several are already using them to expand the pool of borrowers
by Matt Carter Feb 14
Guild Mortgage set to acquire, rebrand Academy Mortgage
Upward of 1,000 Academy Mortgage employees will make the transition to Guild, including more than 600 originators, Guild said in announcing the 6th acquisition in 3 years
by Matt Carter Feb 13
Loans for commercial and multifamily buildings fell 25% in Q4
Loans for office buildings specifically dropped 68% year over year and 32% quarter over quarter as investors remained wary about the risk-heavy sectors and interest rates remained high
by Ben Verde Feb 13
RE/MAX's Motto Mortgage makes Entrepreneur's 'Franchise 500' list
'Mortgage brokerage in a box' offering makes Entrepreneur's list of top franchise opportunities for a 5th consecutive year, despite challenging conditions for mortgage lenders
by Matt Carter Feb 12
Mr. Cooper now collects payments on $1T in mortgages amid big Q4
Investors pushed shares in the Dallas-based mortgage loan servicer to a new high on Friday as executives in a Q4 earnings call said they'll keep investing in technology that boosts efficiency
by Matt Carter Feb 12
Flagstar mortgages could help NYCB shore up its balance sheet
Troubled New York Community Bancorp is reportedly ready to pledge about $5B in home loans originated by Flagstar Bank as collateral for risk transfer that would bolster its capital
by Matt Carter Feb 8
Mortgage rates lead to biggest pending sales drop since October
A record one-day jump in mortgage rates on Feb. 2 pushed pending sales down 8 percent — the biggest decline since October, according to Redfin's latest market report
by Marian McPherson Feb 8
Mortgage giants offering very low income homebuyers a spring break
Fannie Mae and Freddie Mac are offering a $2,500 credit this spring that borrowers can put toward their down payment, closing costs, escrow or mortgage insurance premiums
by Matt Carter Feb 7
Homebuyer purchase loan demand falls again as mortgage rates firm
After picking up during the first 3 weeks of January, MBA lender surveys show applications for purchase loans are contracting, with mortgage rates no longer in free fall from 2023 highs
by Matt Carter Feb 7
Housing sentiment improves on hopes for lower mortgage rates
Consumer sentiment toward housing increased to the highest level in nearly 2 years in January, with a record number expecting mortgage rates to come down in the year ahead: Fannie Mae
by Matt Carter Feb 7
FNB of Pennsylvania to pay $13.5M to settle redlining allegations
FNB's 2017 acquisition of Yadkin Bank for $1.8B expanded its footprint into North Carolina, where the DOJ alleges it avoided providing mortgages to majority-Black and Hispanic communities
by Matt Carter Feb 6
Blowout January jobs report has mortgage rates surging again
Employers added 353,000 workers to their payrolls in January, a 'head scratching' jobs report from the Labor Department that kills prospects for a March rate cut 'stone dead,' economist says
by Matt Carter Feb 2
Let TikTok's favorite debt expert help skyrocket your credit score
Trainer Bernice Ross talks to popular TikTok credit expert Alisa Glutz to find out how you and your clients can optimize the potential of a credit profile for lower interest rates and better scores
by Bernice Ross Feb 2