Moves by Rocket and United Wholesale Mortgage could help borrowers get better rates and make smaller down payments when taking out loans that were previously classified as jumbo
The Michigan-based and third-largest wholesale mortgage lender aims to cut costs by more than $100M a year in response to an 'extremely challenging' lending environment
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
SingleSource Property Solutions and Voxtur launch an alternative to title insurance that's designed with Fannie Mae and Freddie Mac's new guidelines in mind
Interest-free home equity advances to Knock Home Swap clients can be used to buy down mortgage rate or make a bigger down payment
Like its sister company, Freddie, Fannie Mae remained profitable in Q2 despite pressure from inflation, rising interest rates and worsening affordability, according to earnings released Friday
The mortgage giant generated more than $2.5B profit and grew its mortgage portfolio despite dramatic declines in new purchase loans and refinancing
The homebuyers with 'fair' credit scores can pay up to $288 more per month than those with 'excellent' scores, according to a new study by Zillow
The study argues that decoupling commissions would harm first-time, low-income, and minority buyers, but critics like the Consumer Federation of America say it's based on a faulty premise
New technology and policy changes at Fannie Mae and Freddie Mac spur innovations by Guild Mortgage and Ready Life to help borrowers without credit scores and good payment histories
30-year loans of up to $5M provided by Florida-based Milo Credit LLC allow investors to avoid capital gains taxes — and don't require down payments, credit scores or US citizenship
After unloading $218M in unrated residential transaction loans in June, CEO Michael Bourque said markets for such deals 'are certainly tough right now'
Longer loans, including a 50-year concept recently floated in the UK, are sometimes framed as a way to improve housing affordability. But the experts aren't convinced
Rising rates took their toll not only on refinancing but on homebuyer demand for purchase loans in June, according to an analysis of rate lock data released Monday by Black Knight
Failures raise questions about the viability of a small but growing corner of the mortgage business that largely serves self-employed borrowers