DelPrete: How Zillow pressures its agent partners to plug mortgages
Zillow is shoring up its Home Loans business by ratcheting up pressure on Flex agents, who refer clients to the mortgage arm or risk losing future leads, real estate advisor Mike DelPrete writes
by Mike DelPrete Nov 1
Inman Intel Index: Real estate leaders brace for dizzying change
The inaugural Triple-I survey went out to the Inman community last month, and the results are here. Dig into 126 pages of deep, exclusive findings, only for Intel subscribers
by Daniel Houston Oct 18
Latest jobs numbers could be nail in the coffin for interest rate hikes
Mixed payroll and unemployment report sends long-term interest rates surging, but some analysts say the latest numbers reduce the odds of a September Fed rate hike
by Matt Carter Sep 1
Insurers 'dodged a bullet' as Hurricane Idalia slams rural areas
Mortgage giants Fannie Mae and Freddie Mac outline relief for victims, including forbearance allowing loan servicers to suspend collection of mortgage payments for up to 12 months
by Matt Carter Sep 1
Antitrust regulators sign off on ICE's deal to acquire Black Knight
In addition to selling Empower and Optimal Blue, consent order would require ICE and Black Knight to seek prior FTC approval before acquiring an interest in another loan origination system
by Matt Carter Aug 31
Black Knight ready to spin off Empower, Optimal Blue businesses
To win approval from regulators to merge with Intercontinental Exchange (ICE), Black Knight plans to sell 2 businesses to subsidiaries of software giant Constellation Software next month
by Matt Carter Aug 30
Homebuyer mortgage demand picks up for 1st time in 6 weeks
After dipping to lowest level since April 1995, applications for purchase mortgages edge up 2% week over week but remain down 27% from a year ago as mortgage rates retreat from 2023 highs
by Matt Carter Aug 30
Credit repair companies settle 'hot swapping' allegations for $2.7B
Lexington Law and CreditRepair.com parent Progrexion filed for bankruptcy protection in June after court ruled collection of upfront fees violated Telemarketing Sales Rule
by Matt Carter Aug 29
Interest rates stay anchored after Fed chair's hawkish speech
After an initial swoon, bond markets take Federal Reserve Chairman Jerome Powell's tough talk on inflation in stride, but housing sector remains vulnerable to further rate hikes
by Matt Carter Aug 25
Better shares plunge more than 90% in Nasdaq debut
In addition to going public at a bad time for mortgage lenders, Barron's reports that SPAC merger resulted in a huge increase in the number of shares outstanding
by Matt Carter Aug 24
Home sales will bottom out in 2023, analysts forecast. But then what?
MBA forecasters expect rates to ease and sales to rise next year, but Fannie Mae economists predict home sales will remain subdued even if the Fed pulls off a soft landing
by Matt Carter Aug 23
Homebuyer mortgage demand falls to lowest level since 1995
As mortgage rates hit new post-pandemic highs on inflation worries, MBA survey finds purchase loan demand down 5% week over week and 30% from a year ago
by Matt Carter Aug 23
Viant Eye says Trufile plug-in enables all-digital mortgage
Viant Eye's rollout of its MISMO-compliant plug-in means SMART Docs 'aren't just for eNotes' but documents across the whole loan lifecycle from origination to recording
by Matt Carter Aug 21
Rating agencies issue more cautions about banking industry
It's not just regional banks but larger lenders, such as JPMorgan and Bank of America facing uncertainty if interest rates stay higher for longer, analysts at Fitch and Moody's said
by Matt Carter Aug 15
Blend Labs laying off 150 more workers on 'path to profitability'
Mortgage technology, title provider and cloud-based banking platform has eliminated more than 1,000 positions in 5 rounds of layoffs in the last 16 months
by Matt Carter Aug 14
Computer vision pioneer Restb.ai unleashes its tech on valuations
Valuation Product Suite is geared at modernizing the appraisal process and utilizing new Fannie Mae and Freddie Mac programs that make it easier to get loans approved without an appraisal
by Matt Carter Aug 11
Wells Fargo providing $10K in down payment assistance in 8 metros
To qualify for grants being made through Wells Fargo's existing Special Purpose Credit Program, homebuyers can't earn more than 120% of the area median income
by Matt Carter Aug 10
Title tech provider Flueid raises $10M in Series B1
Round led by existing investor Aquiline Technology Growth will allow Flueid to add more integrations to its verification of title solutions suite and refine its purchase solution
by Matt Carter Aug 10
AI will bring tremendous change — someday in the distant future
Artificial Intelligence could make lending more efficient, though the most radical developments may still be decades away, 2 tech leaders said Wednesday at Inman Connect Las Vegas
by Jim Dalrymple II Aug 10
Give 'incredible insights': Industry pros should be armed with data
At a time when demand for loans has shriveled, Polygon Research CEO Val Buresch argued at Inman Connect Las Vegas on Wednesday that open communication will help people take action
by Jim Dalrymple II Aug 9
Mortgage lenders tighten as homebuyer demand fades
Demand for purchase mortgages fell for a 4th consecutive week last week as rates continued to climb and inventories of homes for sale remained scarce, an MBA lender survey found
by Matt Carter Aug 9
LoanDepot narrows Q2 loss on spring mortgage demand
At $4.55B, loanDepot's Q2 purchase loan originations were up 30% from Q1, thanks in part to the seasonal boost provided by spring homebuyers, but down 52% from a year ago
by Matt Carter Aug 8
Record number of Americans say it's a bad time to buy
A monthly survey by mortgage giant Fannie Mae finds 82% of consumers said July was a bad time to buy, a record in polling data going back to 2010
by Matt Carter Aug 8
Purchase loan demand off for 3rd week as mortgage rates climb
Mortgage rates could come under more pressure as Fitch Ratings downgrades US debt over concerns about rising deficits and ongoing debt ceiling showdowns
by Matt Carter Aug 2
The Agency adds New American Funding as a preferred lender
NAF offers multiple partnership models, including a joint venture option the mortgage lender launched in April that's overseen by industry veteran Al Miller
by Matt Carter Aug 1
Rocket taps veteran fintech exec Varun Krishna as next CEO
In a bold move demonstrating mortgage is just 1 component of a larger fintech strategy, Rocket names former Intuit, PayPal and Microsoft exec to succeed interim CEO Bill Emerson on Sept. 5
by Matt Carter Jul 31
Doma sells off more title operations in Texas and Midwest
Deals with Capital Title of Texas and Near North Title Group follow on sale of 22 retail title locations and operations centers in California to Williston Financial Group
by Matt Carter Jul 20
Lower mortgage rates only boost refinancing applications
Requests for purchase loans are still down 21% from a year ago last week, even as mortgage rates retreat from 2023 highs on encouraging inflation news
by Matt Carter Jul 19
Economy's strength could keep a damper on existing-home sales
Lack of inventory driven by mortgage lock-in effect may persist if Federal Reserve maintains 'higher-for-longer' rate strategy to combat inflation: Fannie Mae economists
by Matt Carter Jul 19
There’s a ‘magic number’ that moves homes. Will we ever hit it?
Buyers have been holding out for a 5.5% rate — but they may need to adjust their expectations, Maegan Sherlock, a senior research analyst for John Burns Research and Consulting, tells Intel
by Daniel Houston Jul 19
California puts another $200M into shared appreciation loans
CalHFA may revise guidelines of Dream For All loan program after 1st $300M earmarked to help first-time homebuyers with down payments ran out in less than 2 weeks
by Matt Carter Jul 18
Angelo Mozilo, symbol of subprime mortgage lending, dies at 84
Co-founder of Countrywide Financial cast himself as the leader of revolution to expand access to mortgage lending but became the public face of the subprime mortgage collapse
by Matt Carter Jul 18
AI mortgage chatbot launches as ChatGPT comes under scrutiny
Beeline CEO is unfazed after lender launches what it claims is the world's first AI mortgage chatbot during same week FTC hits ChatGPT creator OpenAI with an investigative demand
by Matt Carter Jul 14
US Bank, UWM join movement to boost minority lending
With Fannie and Freddie leading the charge, a growing number of lenders are using special purpose credit programs to boost homeownership in underserved communities
by Matt Carter Jul 13
Truework adds fraud protection to automated income verifications
Most borrowers who have granted their mortgage lenders permission to verify their income and employment won't have to confirm the request a second time with payroll provider
by Matt Carter Jul 13
Mortgage rates may have already peaked as inflation cools
While investors expect 1 more Fed rate hike this month, mortgage rates are already retreating on expectations that the Federal Reserve could reverse course next year
by Matt Carter Jul 12
Figure powering HELOCs for 4 more independent mortgage banks
As it continues to sign private label partners for its blockchain-powered loans, Figure says it's provided more than $6B in HELOCs to roughly 85,000 households in 45 states
by Matt Carter Jul 12
team, teamwork
Opinion
A May Zillow study showed that most buyers are turning to their agents, rather than banks, for financing information. Rick Guerrero says your transactions will be smoother if you collaborate
by Rick Guerrero Jul 11
Supreme Court nixes $430B in student loan forgiveness
Down payment assistance, income-driven repayment still offer path to homeownership for those repaying $1.6T in student loan debt as Biden administration pledges the 'fight is not over'
by Matt Carter Jun 30
Doma hopes to keep its place on NYSE with reverse stock split
Shares in digital title and closing provider climb above $5, and the company will be back in the exchange's good graces if its share price remains above $1 for the next 30 trading days
by Matt Carter Jun 30
Good news about economy could send mortgage rates back up
Surprising employment and GDP numbers have investors buying stocks and selling bonds over worries that Fed policymakers will continue hiking rates to combat inflation
by Matt Carter Jun 29
Homebuyer mortgage demand hits highest level since May
Jumbo loan rates higher than conforming mortgages for 3rd week in a row as spread widens to 16 basis points, latest MBA lender survey reveals
by Matt Carter Jun 28
Real estate debt marketplace PeerStreet files for bankruptcy
The company intends to sell 'substantially all of its assets,' including its technology platform to pay creditors that include thousands of retail investors
by Matt Carter Jun 28
Fed tightening likely to produce a 'modest recession:' Economists
Federal Reserve's decision on how high and long to keep rates up 'a major risk over the next year' with question of a downturn more a matter of 'when' than 'if': Fannie Mae
by Matt Carter Jun 26
Loan servicers' pandemic-relief efforts 'a major success story'
Mortgage loan servicers collecting payments on loans guaranteed by Fannie Mae and Freddie Mac completed 2.36M 'home retention actions' during the COVID-19 pandemic
by Matt Carter Jun 26
Planet Home Lending acquires $10B in mortgage servicing rights
Bulk acquisition of servicing rights to 45,000 Ginnie Mae loans from Village Capital & Investment brings Planet's servicing portfolio to $94B with more purchases eyed for 2023
by Matt Carter Jun 23
Newzip helps mortgage lenders connect borrowers to agents
Former Keller Williams Realty exec's startup enables virtually any mortgage lender to emulate programs offered by bigger rivals, such as Rocket Mortgage, loanDepot and Better
by Matt Carter Jun 22
Truist puts former Keller Williams exec in charge of home loans
David Smith, who was president and CEO of CitiMortgage before joining Keller Home Financial Services in 2021, will oversee Truist's direct, correspondent and warehouse channels
by Matt Carter Jun 20
Veros says its AVM isn't tripped up by historical redlining boundaries
Study finds that homes located within historically redlined neighborhoods tend to have lower property values because they have less living space and smaller lot sizes
by Matt Carter Jun 16
Fed skips June rate hike, leaves door open to future increases
While Fed policymakers currently see need for 2 more rate hikes this year, some economists think economy will continue to cool without further tightening
by Matt Carter Jun 14
Homebuyer mortgage demand picks up even as lenders tighten
Mortgage lenders tightened standards for the 3rd month in a row in May, with mortgage credit availability falling to the lowest level since January 2013
by Matt Carter Jun 14
Vesta continues building out integrations with The Work Number
Founded in 2020 by Blend veterans Mike Yu and Devon Yang in San Francisco, loan origination system has rolled out a series of product upgrades since $30M Series A
by Matt Carter Jun 13
Offerpad executes 1-for-15 reverse stock split to head off delisting
Pioneering iBuyer hopes to bring share price back above the New York Stock Exchange's $1 minimum threshold by converting every 15 shares of outstanding common stock into 1 share
by Matt Carter Jun 12
It's definitely a seller's market: Buyer sentiment sags in poll
With home prices propped up by scarce inventory and mortgage rates showing few signs of easing, only 19% of Americans surveyed by Fannie Mae thought May was a good time to buy
by Matt Carter Jun 9
Mortgage rates ease but fail to revive homebuyer demand
Some Fed policymakers say even if they skip hiking rates next week to assess the latest inflation data, that doesn't mean they're ready to pause altogether
by Matt Carter Jun 7
Quality control standards for AVMs may cover discrimination
Proposed standards would include random sample testing and reviews to protect against data manipulation and ensure a 'high level of confidence' in the estimates produced by AVMs
by Matt Carter Jun 2
Mortgage rates ease on debt deal, but jobs report fuels inflation fears
Friday's strong jobs report renews worries that the Federal Reserve is not done hiking rates to combat inflation as policymakers face June 14 decision to 'hike, skip or pause'
by Matt Carter Jun 2
Co-founder of UK's LendInvest launches new US venture
Christian Faes' Los Angeles-based Faes & Co will back F2 Finance and other tech-enabled direct lenders that cater to US residential real estate investors who buy, rehab and flip homes
by Matt Carter May 31
Mortgage rates hit new 2023 high on debt ceiling, inflation worries
For bond market investors who provide the funding for most U.S. mortgages, the debt ceiling crisis won't be over until Congress actually votes to approve the deal negotiated over the weekend
by Matt Carter May 30
Private mortgage insurers have friends in high places
House lawmakers with differing views on Fannie and Freddie ask SEC not to hinder a system that private mortgage insurers have used to transfer nearly $68B in risk since 2015
by Matt Carter May 26
RE/MAX's Motto Mortgage aims for 1,000 offices nationwide
Being named to Entrepreneur magazine's 2023 Franchise 500 list for the 4th year in a row puts some wind in the sails of the company's long-term goals
by Matt Carter May 25
Homebuyers flinch as mortgage rates ascend toward 2023 highs
Purchase loan applications fell by a seasonally adjusted 4% last week as mortgage rates surged on debt ceiling and inflation worries, according to a survey by the Mortgage Bankers Association
by Matt Carter May 24
JPMorgan CEO: Real estate is going to be a big problem for some banks
Not every bank is at risk, JPMorgan CEO Jamie Dimon said Monday during an investor conference. But for lenders with more exposure to commercial properties, the months ahead could be tough
by Daniel Houston May 23
Rocket's new 1% down mortgage also picks up tab for PMI
A hypothetical buyer putting down $2,500 to purchase a $250,000 home could save $20,500 in private mortgage insurance payments over 7 years, lender estimates
by Matt Carter May 22
Housing counseling agency sues its founder for alleged fraud
The National Asian American Coalition says only a small percentage of the counseling sessions it billed California $12M for were actually provided
by Matt Carter May 18
Republicans turn up heat on Fannie and Freddie mortgage fee flap
The Federal Housing Finance Agency has formally requested public feedback on what its goals and priorities should be in setting Fannie Mae and Freddie Mac's pricing structure
by Matt Carter May 17
Mortgage demand slips with homebuyers wary of rate volatility
Rise in mortgage rates defies expectations as unusually wide 'spread' between 10-year Treasury yields and mortgages reflects investor fears of another refi wave
by Matt Carter May 17
Maxwell's LenderSelect deal grows footprint with community banks
Acquisition of LenderSelect Mortgage Group from Blue Ridge Bankshares will also enable 'significant expansion' of secondary market trading platform, Maxwell Capital
by Matt Carter May 16
Freddie Mac spotlights lenders for promoting affordable loans
UWM, Rocket Mortgage and Fairway were enthusiastic backers of Freddie Mac's Home Possible mortgage in 2022, which lets low-income homebuyers put as little as 3% down
by Matt Carter May 15
Encompass users gain access to title data with Flueid integration
ICE Mortgage Technology's popular loan origination system connected to Flueid Decision for underwriter-backed title clearance decisions on properties
by Matt Carter May 12
Consumers finally get it: Mortgage rates are probably going down
More optimistic outlook of where mortgage rates are headed over the next 12 months drives the largest increase in Fannie Mae's Home Purchase Sentiment Index in more than 2 years
by Matt Carter May 12
Mr. Cooper closing in on $1T portfolio with Home Point deal
After selling off originations businesses and laying off thousands of employees, Home Point agrees to sell itself — and $84B in mortgage servicing rights — for $324M in cash
by Matt Carter May 11
iGuide software update draws in architects with DWG format
While merely a technical value-add for many, there is great potential in opening up iGuide’s dynamic, data-driven capabilities to a wider audience, according to the company
by Craig C. Rowe May 11
Regulator rescinds new Fannie, Freddie fee for riskier borrowers
Lending industry groups like the Mortgage Bankers Association called fee based on borrower's debt-to-income ratio 'unworkable'
by Matt Carter May 10
United Wholesale Mortgage shares tumble as originations fade
UWM CEO Mat Ishbia highlights 'operational profitability' as $337M write-down in fair value of mortgage servicing rights drives $138.6M Q1 loss
by Matt Carter May 10
Mortgage applications surged last week but rates are climbing again
Homebuyer applications for purchase mortgages rose 5% last week, but a strong jobs report and ongoing bank instability are pushing mortgage rates back up
by Matt Carter May 10
Blend trims Q1 loss as $37.3M in revenue beats guidance
While the mortgage industry has been shrinking, Blend says it has been building its market share, processing 23.2% of mortgages originated in H2 2022
by Matt Carter May 9
Big Purple Dot launches recruiting tool for mortgage lenders
BPD Recruit taps CoreLogic data to let lenders see who their competitors' most productive loan officers are, then automates the process of luring them away
by Matt Carter May 9
Rocket Mortgage parent posts 2nd consecutive $400M+ quarterly loss
CEO Jay Farner says purchase pipeline has been growing, but constrained housing inventory and affordability present ongoing challenges
by Matt Carter May 4
Ongoing doubts about soundness of regional banks rattle investors
Shares in regional banks PacWest Bancorp and Western Alliance Bancorp tumble, and TD Bank Group and First Horizon Corp. announce they're pulling out of a merger
by Matt Carter May 4
Fed signals it may be done raising rates, but Powell won't talk pivot
Bank failures and potential debt ceiling showdown are wildcards for Federal Reserve policymakers weighing their next move as threat of recession looms
by Matt Carter May 3
Fannie and Freddie boost profits even as mortgage business tanks
Fannie Mae acquired $68B in single-family mortgages during Q1, the slowest period in more than 2 decades. Freddie Mac's $59B haul was the smallest since 2014
by Matt Carter May 3
New video explores potential for AI bias in mortgage lending
Experts participating in filmmaker Alice Gu's BAD INPUT argue technology could expand access to credit, but also perpetuate discriminatory lending unless closely overseen
by Matt Carter May 2
Mr. Cooper says it will use AI to service $1 trillion in mortgage loans
The loan servicer spends 'several hundred million dollars a year' on call center operations and expects $50M in annual savings at the outset of a 'multiyear' artificial intelligence project
by Matt Carter Apr 27
Homebuyer demand for purchase mortgages up despite higher rates
Mortgage rates are expected to ease as markets anticipate Federal Reserve policymakers will raise rates just 1 more time this year and then reverse course
by Matt Carter Apr 26
More tech vendors approved to support appraisal-free mortgages
Stewart Valuation Intelligence (SVI) is the latest technology vendor to be approved by Fannie Mae to support new value acceptance + property data valuation process
by Matt Carter Apr 21
Fairway loses 8 California branches to rival Guild Mortgage
The defection of former Fairway division manager John Lowe and 40 colleagues who originated $350M in loans last year "is equal to that of a mini acquisition"
by Matt Carter Apr 20
Legislation aimed at banning mortgage trigger leads is back
Despite lobbying by mortgage trade groups, 2 previous bills failed to attract cosponsors and died in the House Committee on Financial Services without a second reading
by Matt Carter Apr 19
Listing shortages kept prices from falling in Q1: Fannie Mae
Mortgage giant's quarterly Home Price Index shows national home prices were up 1% during the first quarter of 2023 compared to the final 3 months of 2022
by Matt Carter Apr 18
RESAAS to facilitate referrals to Rocket Mortgage Canada
One-year agreement calls for RESAAS and Rocket Mortgage Canada to share revenue generated by new mortgages, mortgage renewals and refinances
by Matt Carter Apr 18
UWM says it's hiring as Bloomberg details alleged 'locker room culture'
The nation's biggest mortgage lender is planning to hire 500 people and is holding a job fair Saturday just days after Bloomberg expose of alleged drug use, discrimination and harassment
by Matt Carter Apr 13
Better's 'One Day Mortgage' product lifts off
New products and agent partnerships could help Better make the transition from a company known primarily for refinancing existing loans to one that's geared to serving homebuyers
by Matt Carter Apr 12
Homebuyer mortgage demand perks up as rates retreat
Homebuyer demand for purchase loans up 8% last week even after adjusting for the expected seasonal boost from the spring homebuying season
by Matt Carter Apr 12
FTC goes to court to stop ICE's $11.7B Black Knight acquisition
Antitrust regulator claims Intercontinental Exchange and Black Knight plan to close the merger deal on April 28 — before an administrative hearing to determine its legality has even begun
by Matt Carter Apr 11
Poll shows most Americans still think it's a bad time to buy
Fannie Mae survey shows sentiment ticked up slightly in March with consumers becoming more confident about homeselling conditions and less worried about losing their jobs
by Matt Carter Apr 10
Purchase loan demand falls as jumbo mortgages buck rate trend
Ongoing banking instability sparked by the failures of Silicon Valley Bank and Signature Bank may affect the availability of jumbo mortgages not eligible for purchase by Fannie Mae, Freddie Mac
by Matt Carter Apr 5
KC Conway on a big banking risk that has flown under the radar
Hundreds of banks are exposed to large concentrations of commercial real estate — and high levels of risk, Red Shoe Economics' K.C. Conway, a seasoned Federal Reserve veteran, told Intel
by Daniel Houston Apr 5
Rocket's new Visa rewards card targets first-time homebuyers
In addition to paying high rates on any balances they carry, customers will find that their rewards points are worth much less if they don't choose Rocket Mortgage to finance their home
by Matt Carter Mar 28
Bank turmoil could spark 'modest' recession in second half of year
Fannie Mae economists say downturn won't rival the 2008 financial crisis, but jumbo mortgages and construction loans could get scarce if small and midsized regional banks tighten
by Matt Carter Mar 24
Fed Chair Jerome Powell signals latest rate hike could be the last
Mortgage rates expected to ease even as Fed vows to continue 'quantitative tightening' that's trimming mortgage holdings by $35B a month
by Matt Carter Mar 22
Software vendors gear up to support appraisal-free mortgages
Fannie Mae says starting April 15, more homebuyers will qualify for a program requiring full interior and exterior inspections that capture data and images throughout the property
by Matt Carter Mar 21
Guild's McGarry will hand CEO reins to Terry Schmidt, her 1st hire
Schmidt was Mary Ann McGarry's 1st hire at Guild in 1985, and the two led a 2007 management buyout of the company from founder Martin Gleich
by Matt Carter Mar 20
Flagstar Bank takes over Signature Bank's retail branches
$2.7B deal does not include about $4B in crypto-related deposits held by the former Signature Bank's digital-assets banking business, according to the Federal Deposit Insurance Corp
by Matt Carter Mar 20
New mortgage fee won't debut until after spring homebuying season
Industry groups continue to object to new Fannie and Freddie fee aimed at some riskier borrowers as a burden on lenders and middle-class consumers
by Matt Carter Mar 17
Even after layoffs, 3 in 4 mortgage lenders lost money in Q4 2022
Lenders lost $2,812 per loan as business dropped off faster than they could trim expenses and production costs hit a record-high $12,450 per loan, Mortgage Bankers Association survey finds
by Matt Carter Mar 17
As losses mount, Blend looks beyond mortgage for future growth
San Francisco-based cloud banking software provider has trimmed the company's payroll by nearly 800 employees and cut annual expenses by $72M
by Matt Carter Mar 16
LoanDepot says it has 'full access' to $600M Signature Bank credit lines
Struggling mortgage lender also assures investors that it has moved $225M in cash it held at Signature Bridge Bank to another institution
by Matt Carter Mar 15
Guild Mortgage announces 3rd acquisition in as many months
Acquisition of Colorado-based Cherry Creek Mortgage expands Guild's retail branch network by 68 offices in 45 states, adds reverse loan options
by Matt Carter Mar 14
Property managers dodged bullet after Signature failure — for now
A short-term fix by the federal government helped thousands of property managers keep the lights on after the collapse of Signature and Silicon Valley Bank. But lending will be tougher now
by Taylor Anderson Mar 14
Mortgage rates nosedive in fallout from Silicon Valley Bank failure
Bank failures and slowdown in wage growth have forecasters thinking the Federal Reserve will back off from aggressive rate hike campaign when it meets next week
by Matt Carter Mar 13
Signature becomes 2nd major real estate-focused bank to fail
Signature was the largest commercial real estate lender in New York City by transaction volume and third-largest by volume since January 2020, according to PincusCo
by Taylor Anderson Mar 13
Antitrust regulators move to block ICE's $11.7B Black Knight acquisition
Federal Trade Commission alleges the deal would put an end to intense competition between the companies and drive up costs for lenders and homebuyers
by Matt Carter Mar 10
LoanDepot founder Anthony Hsieh determined to shake up board
After being ousted as executive chair, Hsieh says he controls enough voting shares to install veteran real estate executive Steve Ozonian on the mortgage lender's board of directors
by Matt Carter Mar 9
LoanDepot losses mount as company continues to shed workers
Beleaguered mortgage lender racks up a $610.4M 2022 net loss despite cutting 6,100 jobs as rising mortgage rates cut into the company's lucrative refinancing business
by Matt Carter Mar 8
Mortgage rates headed past 7% after Powell warns Congress on inflation
Futures markets are taking the Fed chair at his word that policymakers may have to hike rates faster and take them higher to combat inflation
by Matt Carter Mar 8
Federal consumer watchdog flags mortgage servicers' junk fees
The CFPB alleges mortgage servicers charged excessive late fees, assessed 'fake' private mortgage insurance premiums and made homeowners pay for unnecessary inspections
by Matt Carter Mar 8
Guaranteed Rate rolls out 'Same Day Mortgage' nationwide
Properties must be eligible for an appraisal waiver, and like Better's 'One Day Mortgage,' some fine print can stand in the way of getting a loan approved in 24 hours
by Matt Carter Mar 7
Black Knight ready to sell Empower to address antitrust concerns
Deal with Constellation Software Inc. hinges on Intercontinental Exchange closing deal to acquire Black Knight, now valued at $11.7B. ICE says it's prepared to fight FTC in court
by Matt Carter Mar 7
Pandemic-fueled 'lock-in effect' likely to limit new spring listings
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
by Matt Carter Mar 6
Rocket, UWM cut a combined 9,500 positions in 2022, new filings show
Companies say that instead of laying off workers, they're trimming their payrolls through attrition or by offering voluntary buyouts
by Matt Carter Mar 3
Utah 1st state to ban long-term listing agreements enforced by lien
Legislation expected to go into effect April 1 addresses allegedly deceptive tactics employed by MV Realty and was based on a model bill drafted by American Land Title Association
by Matt Carter Mar 2
Rising mortgage rates a headwind for spring homebuying season
After 3 straight weeks of declines in mortgage applications, demand for purchase loans remains at the lowest level since 1995 for the 2nd week in a row
by Matt Carter Mar 1
UWM posts $62M Q4 loss but keeps title of America's biggest lender
CEO Mat Ishbia says aggressive 'Game On' pricing is still in place, but acknowledges Pontiac-based wholesaler is seeking to boost profit margins in 2023
by Matt Carter Mar 1