Floify teams with Argyle for income and employment authentication
Mortgage tech provider Floify's partnership allows lenders to perform Freddie Mac- and Fannie Mae-compliant verifications without leaving the Floify platform, executives announced Thursday
by Matt Carter Oct 15
LoanSnap's business dried up. Now regulators are after its licenses
Connecticut has entered into a consent decree revoking the fintech mortgage lender's license, and LoanSnap has been put on notice by California regulators that they intend to do the same
by Matt Carter Oct 11
DOJ's 14th redlining settlement is its first with a credit union
Citadel Federal Credit Union 'respectfully disagrees' with allegations, agrees to invest $6.5M and open 3 new branches in predominantly Black and Hispanic neighborhoods in Philadelphia
by Matt Carter Oct 11
Latest inflation numbers could give mortgage rates additional lift
Reports send mixed signals on the economy, with CPI showing prices rose more sharply than expected in September and jobless claims surging to highest level in more than a year
by Matt Carter Oct 10
Mr. Cooper adds to leadership team with eye on technology
Sridhar Sharma, credited with developing Mr. Cooper's patented AI, has been promoted to a new role, and 3 new technology leaders are coming on board from other companies
by Matt Carter Oct 9
Mortgage rates keep rising on strong jobs, economic data
Strong job market rekindles inflation worries, raising the prospect that Federal Reserve policymakers are increasingly likely to cut rates by only a hair in November -- if at all
by Matt Carter Oct 9
Consumer housing sentiment hits 30-month high in September
More than 8 in 10 Americans still said it was a bad time to buy a home, and mortgage rates have been climbing again since Fannie Mae conducted the monthly National Housing Survey
by Matt Carter Oct 7
Rocket hires Venmo, PayPal vet to lead product engineering teams
Papanii Okai will help the mortgage giant harness artificial intelligence and build out the fintech platform that connects its real estate, credit card and personal finance subsidiaries
by Matt Carter Oct 7
Mortgage rates are soaring on strong September jobs report
With a soft landing seen as more likely, analysts say Fed can be more cautious about the pace of future rate cuts and mortgage rates aren't likely to fall below 6% anytime soon
by Matt Carter Oct 4
Homebuyers entering the market even as mortgage rates stabilize
Purchase loan applications are up 9% from a year ago, as inventories of new and existing homes increase and lower mortgage rates help with affordability, MBA lender survey suggests
by Matt Carter Oct 2
Nation's biggest mortgage lender, UWM, jumping on AI bandwagon
Although it doesn't work directly with consumers, this year UWM has rolled out AI tools to help mortgage brokers serve both homebuyers and homeowners who might benefit from refinancing
by Matt Carter Oct 2
Synergy One acquiring national lender Mann Mortgage
Kalispell, Montana-based Mann Mortgage, which operated branches in states throughout the West and Southeast, had previously tangled with regulators in Idaho and Washington
by Matt Carter Oct 1
Figure now using OpenAI's GPT to speed HELOC doc review process
When combined with a newly launched chatbot powered by Google Gemini, Figure says AI-powered doc review to save $8M while raising customer satisfaction scores
by Matt Carter Sep 30
The Agency launches Aclara Lending mortgage brokerage
The national brokerage is making its start in SoCal and has been created through a partnership with mortgage service provider Barrett Financial Group, The Agency has informed Inman
by Lillian Dickerson Sep 30
New inflation data gives mortgage rates room to keep coming down
With inflation continuing to inch closer to the Fed's 2% goal in August, bond market investors are getting more confident that the central bank will continue to cut rates aggressively in November
by Matt Carter Sep 27
Sonar by Simplist blends AI to flatten mortgage operations
Sonar can be white-labeled for companies wanting to deliver their own solution to the market and can help smaller firms deliver a competitive software solution to tech-forward consumers
by Craig C. Rowe Sep 27