Fed's ‘higher for longer’ rate strategy could keep home sales from rebounding in 2024 or limit the strength of a recovery, according to two closely followed forecasts by MBA, Fannie Mae
Rise in mortgage rates defies expectations as unusually wide 'spread' between 10-year Treasury yields and mortgages reflects investor fears of another refi wave
The housing sector's resilience to higher prices and mortgage rates has bolstered prices, but a lack of for-sale inventory is expected to limit sales, according to Fannie's latest monthly forecast
Parent company Home Point Capital to take an equity stake in The Loan Store, with Homepoint executive Phil Shoemaker to be installed as CEO when the deal closes by end of Q2
Executives with the Canadian real estate tech company said its US expansion plan and ambitious goals to grow its appraisal and title insurance market share are still in place
Black Knight data shows new listing volume down 25% in January compared to pre-pandemic levels, the biggest drop since most of the country was in lockdown
After posting $493M Q4 loss, Rocket executives say they're focused on reaching homebuyers through the wholesale channel and new personal finance app, Rocket Money
Former Rocket Mortgage CEO Bill Emerson will serve as the company's interim CEO and fill the board vacancy while its board of directors conducts a search for a permanent leader
Nashville, Tennessee-based Fourth Capital Bank is the first to integrate Rocket Mortgage’s digital mortgage application using new platform developed by Q2 Software
The mortgage tech and title provider posted a $132.7M net loss in the third quarter of 2022, with revenue falling 38% from a year ago to $55.3M, according to an earnings call Thursday
The troubled lender has shed 5,200 workers through layoffs and attrition and is instituting other cost-cutting measures aimed at trimming $400M in annual expenses by the end of the year
Mr. Cooper, which had 8,200 employees at the end of last year, laid off 250 workers from its lending business during the first quarter and announced another 420 layoffs in June
With rising mortgage rates drastically curtailing lending, Rocket Mortgage saw third-quarter mortgage originations plummet by 73% from a year ago, to $23.7B
After initial focus on mortgages, 'Rocket Rewards' will be expanded to provide discounts on other 'ecosystem' offerings including personal loans and solar panels
While growing loan servicing business remains profitable, according to Q3 earnings, paper gains on servicing rights could evaporate if interest rates fall and borrowers refinance out of portfolio