Portals and disruptors are eyeing the future of mortgage markets
The companies that can afford to, including Zillow, are aggressively growing MLO headcount in order to capture future market share, Mike DelPrete writes
by Mike DelPrete Nov 14
Latest CPI reading leaves door open for December Fed rate cut
October Consumer Price Index report isn't having a big impact on mortgage rates, as investors who fund most home loans doubt the Fed will have much room to bring rates down next year
by Matt Carter Nov 13
Better funds $1B in mortgages in Q3 but still $54M in the red
Having pivoted from refinancing to purchase loans, CEO Vishal Garg says investment in AI technology and partnerships with retailers like NEO Home Loans will fuel cost-effective growth
by Matt Carter Nov 13
Rocket boosts market share, posts $481M Q3 loss on writedowns
Looking beyond paper writedowns in the fair value of its mortgage servicing rights, CEO Varun Krishna is pleased as Q3 mortgage originations climb 28% from a year ago
by Matt Carter Nov 12
Homebuyer challenges offer an opportunity for lenders: JD Power
Survey finds lenders that have remained staffed up and invested in digital processes that streamline the mortgage process are crushing their competitors on customer satisfaction
by Matt Carter Nov 12
Amerant Bank exits Texas but still providing mortgages nationwide
Coral Gables, Florida-based community bank sells its Houston branches to MidFirst Bank, but growing mortgage subsidiary Amerant Mortgage has a presence in most states
by Matt Carter Nov 12
Porch shares soar 55% on $14M Q3 profit and restructuring plan
Regulators have signed off on plans to restructure insurance business into a company that's owned by policyholders and operated by Porch, insulating it from catastrophic weather events
by Matt Carter Nov 8
Mortgage rates not expected to budge on latest Fed rate cut
Move was anticipated by investors that fund most home loans, who have been driving up mortgage rates over concerns about inflation and pace of future Fed rate cuts
by Matt Carter Nov 7
Record number of Americans say they'd rather rent than buy
Housing market sentiment rose in October to the highest level since February 2022, but 8 in 10 consumers still said it was a bad time to buy: Fannie Mae survey
by Matt Carter Nov 7
New customers and layoffs help Blend approach profitability
In addition to signing a multi-year deal with Pentagon Federal Credit Union, Blend laid off 50 workers in September, or about 9% of its workforce, helping trim expenses by 32%
by Matt Carter Nov 6
Investors betting Trump will privatize Fannie Mae, Freddie Mac
Shares in the mortgage giants soared Wednesday on expectations that the Trump administration and Congressional Republicans will revive efforts to privatize the mortgage giants
by Matt Carter Nov 6
Mortgage rates climb as investors weigh impact of election results
Appetite for bonds wanes as investors pile into the stock market and assess whether Donald Trump's return to the White House will fuel more government borrowing and reignite inflation
by Matt Carter Nov 6
LoanDepot is back in the black for the first time since Q4 2021
Beleaguered lender ekes out $2.67M Q3 profit on $315M in revenue, with loan originations up 9% from a year ago as mortgage refinancing bounces back on retreating rates
by Matt Carter Nov 5
LoanDepot adds to its stable of homebuilder joint ventures
Partner in Ridgeland Mortgage, Smith Douglas Homes, went public in January and targets price-conscious entry-level and empty-nest homebuyers in the South and Southeast
by Matt Carter Nov 5
Weak jobs, manufacturing reports provide no relief for mortgage rates
Hurricanes and strikes were expected to dent job creation, and bond market investors are looking ahead to next week's election, Fed meeting and government bond auctions, analysts say
by Matt Carter Nov 1
Falling rates help boost Fannie and Freddie loan volumes, net worths
Mortgage giants Fannie Mae and Freddie Mac provided backing for $164B in purchase mortgages in Q3, up 10% from Q2, while remaining profitable and growing their combined net worths to $147B
by Matt Carter Nov 1