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After exceeding 8% in October, rising mortgage rates overtook 'lack of housing inventory' as the top concern for real estate agents, according to the latest monthly Inman Intel Index results.
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
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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
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
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
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
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
Lexington Law and CreditRepair.com parent Progrexion filed for bankruptcy protection in June after court ruled collection of upfront fees violated Telemarketing Sales Rule
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Mortgage rates could come under more pressure as Fitch Ratings downgrades US debt over concerns about rising deficits and ongoing debt ceiling showdowns
NAF offers multiple partnership models, including a joint venture option the mortgage lender launched in April that's overseen by industry veteran Al Miller
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
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
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
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
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
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
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
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
With Fannie and Freddie leading the charge, a growing number of lenders are using special purpose credit programs to boost homeownership in underserved communities
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
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
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
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
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'
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
Surprising employment and GDP numbers have investors buying stocks and selling bonds over worries that Fed policymakers will continue hiking rates to combat inflation
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
The company intends to sell 'substantially all of its assets,' including its technology platform to pay creditors that include thousands of retail investors
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
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
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
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
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
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
While Fed policymakers currently see need for 2 more rate hikes this year, some economists think economy will continue to cool without further tightening
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
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
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
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
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
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
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'
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
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
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
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
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
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
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
The National Asian American Coalition says only a small percentage of the counseling sessions it billed California $12M for were actually provided
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
Rise in mortgage rates defies expectations as unusually wide 'spread' between 10-year Treasury yields and mortgages reflects investor fears of another refi wave
Acquisition of LenderSelect Mortgage Group from Blue Ridge Bankshares will also enable 'significant expansion' of secondary market trading platform, Maxwell Capital
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
ICE Mortgage Technology's popular loan origination system connected to Flueid Decision for underwriter-backed title clearance decisions on properties
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
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
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
Lending industry groups like the Mortgage Bankers Association called fee based on borrower's debt-to-income ratio 'unworkable'
UWM CEO Mat Ishbia highlights 'operational profitability' as $337M write-down in fair value of mortgage servicing rights drives $138.6M Q1 loss
Homebuyer applications for purchase mortgages rose 5% last week, but a strong jobs report and ongoing bank instability are pushing mortgage rates back up
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
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
CEO Jay Farner says purchase pipeline has been growing, but constrained housing inventory and affordability present ongoing challenges
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
Bank failures and potential debt ceiling showdown are wildcards for Federal Reserve policymakers weighing their next move as threat of recession looms
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
Experts participating in filmmaker Alice Gu's BAD INPUT argue technology could expand access to credit, but also perpetuate discriminatory lending unless closely overseen
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
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