Rocket Mortgage rolls out 'Inflation Buster' mortgage, which provides a lower rate for 1 year, as it battles rival United Wholesale Mortgage for homebuyer market share
Nonbank mortgage lender Newrez says 40-year, interest-only loans will help borrowers and investors who have been priced out of today's housing market
After unloading $218M in unrated residential transaction loans in June, CEO Michael Bourque said markets for such deals 'are certainly tough right now'
Lender hopes to cut up to $400M in annual expenses and become profitable by the end of the year, after rising mortgage rates gut profitable refinancing business
Failures raise questions about the viability of a small but growing corner of the mortgage business that largely serves self-employed borrowers
Rising mortgage rates are prompting some lenders to downsize to adapt to changing market conditions. But the market shift is also expected to drive mergers and acquisitions
Investment management firm acquired nonbank mortgage lender First Guaranty Mortgage as part of broader strategy to serve lower end of market
Chapter 11 filing will allow the non-QM lender leeway to submit a plan of reorganization to keep its business alive and pay creditors over time
Non-QM lender fires three-quarters of its workforce, saying it's experienced 'significant operating losses and cash flow challenges' and has been unable to obtain funding
While real estate industry layoffs largely began with companies that provide mortgages and mortgage-related services, everyone from Adwerx to Zumper has been impacted by the downturn