Getting out from under $1.95T cap would allow bank to grow its deposit base, providing more room on the balance sheet to originate jumbo mortgages too big for Fannie and Freddie
Once the nation's largest home lender, Wells Fargo could be poised for a comeback in mortgage this year as it continues to make progress addressing regulators' concerns about past practices
Investors bid up shares of mortgage lenders and real estate companies after 'relatively benign' CPI report ends speculation that inflation worries might force the Fed to raise rates this year
In addition to subtle tweaks to the company's logo and other details, brand revamp is aimed at positioning Rocket as a fintech platform supporting an 'end-to-end homeownership experience'
After four consecutive quarters of declines, Motto Mortgage had 225 open offices at the end of 2024, down 8% from last year's peak of 246 on slower franchise sales and terminations
After seeing its open office count shrink this year for the first time ever, RE/MAX's mortgage franchisor brings new offices online in Arizona, South Carolina and Michigan
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
CrossCountry Mortgage joins Rocket, Pennymac, UWM and Rate in raising conforming loan limit above current $766,550 cap for Fannie Mae and Freddie Mac ahead of an official announcement
With prices rising, it's becoming standard operating procedure for big lenders like Rocket to help homebuyers avoid jumbo loan pricing by getting a jump on FHFA's official announcement
Rocket will treat loans of up to $802,650 as conforming ahead of expected increase. Last year UWM and Rate also got a jump on the official announcement by Fannie and Freddie's regulator
The Q2 earnings are in: From Zillow’s revenue boost to RE/MAX’s struggles, here's the breakdown of who's up and who's down
Franchise sales have slowed, and some existing franchisees have canceled their agreements, but Motto Franchising President Ward Morrison expects growth to resume when lending picks up
In Q2 earnings, the nation's largest mortgage lender posted a healthy $76M profit, paid down debt and said it's in prime position to capitalize and grow as mortgage rates drop to 2024 lows
2 years ago, 9 out of 10 mortgages had rates below 5%. Today, ICE Mortgage Monitor data shows there are 5.8M fewer sub-5% mortgages, and 1 in 4 borrowers has a higher rate
Modest pilot program approved by federal regulators was opposed by banks who have traditionally provided most home equity loans, but nonbank lenders have already made inroads