First-time buyers still eager, despite snags on path to homeownership
A Chase survey revealed nearly 4 in 10 potential first-time buyers lost income during the pandemic, setting back their homeownership goals
by Daniel Houston Jul 16
Banks offer exposure to mortgage risk — and investors want in
The new bond products offer higher yields in a low-interest-rate environment; but if the loans go bad, investors are on the hook
by Daniel Houston Jul 29
Near historic lows, mortgage rates see little movement in late July
Mortgage rates held steady near month's end, with interest rates on 15-year fixed rate loans remaining at all-time lows, according to Freddie Mac’s weekly lender survey
by Daniel Houston Jul 29
August opens with lower mortgage rates as Treasury yields dip
Interest rates on 30-year mortgages fell further as bond markets reacted to the delta variant's potential impact on the global economy
by Daniel Houston Aug 5
Underwater homeowners gain breathing room as prices climb
Fewer properties are considered seriously underwater now that rising home prices have put homeowners with mortgages in a better position
by Daniel Houston Aug 9
Mortgage lenders deal more purchase loans amid fewer refis
The latest numbers from Attom Data Solutions show that mortgage lenders issued more purchase loans in the second quarter of the year but lost ground on the refinancing side
by Daniel Houston Aug 18
Ahead of Fed tapering reveal, mortgage lenders kept rates steady
Low mortgage rates that had risen off a strong jobs report remained unmoved earlier this week, according to Freddie Mac's lender survey
by Daniel Houston Aug 19
Automation comes to appraisal management
AppraisalWorks now provides quote management tools and automates electronic payments to appraisers — features that can cut costs, speed up turn times and improve transparency
by Matt Carter Aug 24
Lenders hold firm on mortgage rates after Fed dust settles
Rates remain near historic lows despite Fed's willingness to consider tapering mortgage purchases this year
by Daniel Houston Aug 26
Investor-focused LendingHome to rebrand as 'Kiavi'
The company focuses on lending for investors who plan to rent out or flip their properties. The new name is a reference to the word for 'key' in Italian
by Jim Dalrymple II Sep 1
Rates for 15-year mortgages continue slow rise from prior lows
Mortgage rates have remained largely unchanged in recent weeks, aside from a gradual rise in rates for 15-year loans
by Daniel Houston Sep 9
‘Holding pattern’: Virus extends stable period for mortgage rates
Rates for 30-year mortgages have remained virtually unchanged for 2 months even as lenders reported recent movement on other loan types
by Daniel Houston Sep 16
Will every mortgage lender soon have a cash offer product?
Regional mortgage lender Evergreen Home Loans' cash offer product is available in 4 states. Will this become the norm?
by Matt Carter Sep 21
Low mortgage rates keep home costs in an acceptable range
Ownership costs for the median home remain within a normal range but are nearing the point where lenders might start to balk
by Daniel Houston Sep 22
Mortgage rates continue to flatline ahead of Fed tapering details
Mortgage rates stayed the course this week as lenders continued to monitor the Federal Reserve's tapering plans
by Daniel Houston Sep 24
Homebuilders primed for big year of earnings. Here's the stocks to watch
Anticipating a high demand for homes, a research team at JPMorgan Chase is bullish on several real-estate stocks and investment trusts, according to a new analysis
by Daniel Houston Sep 24
Are 15-minute mortgage loan approvals the future?
United Wholesale Mortgage says it developed automated document recognition and processing capabilities in-house that allow for an initial mortgage approval in minutes
by Matt Carter Sep 27
Mortgage rates hold steady following late-September spike
Mortgage rates barely changed a week after rising bond yields and Federal Reserve statements led to rate hikes across the board
by Daniel Houston Oct 7
What the US climate-risk review means for FHA, VA loans and more
Government agencies are looking to better quantify risks from climate change, a step with implications for government-backed home loans
by Daniel Houston Oct 19
Rates for 30-year mortgages reach highest point since early spring
Mortgage rates continued their month-long rise in mid-October as buyers and sellers navigated unusual market conditions, according to a lending survey from Freddie Mac
by Daniel Houston Oct 22
LoanDepot building purchase loan business as rising rates stunt refis
Joint ventures with homebuilders and referral relationships with real estate agents helping fuel partner channel
by Matt Carter Nov 2
Finance firm backed by Ryan Serhant expands business to South Florida
The company's services are now available to agents and brokerages in South Florida that want to receive their commissions up front
by Daniel Houston Nov 5
Rise in mortgage rates sees hiccup — but don't expect it to last
The dip in mortgage rates this week was small compared to the rise recorded over the last month; economists say they expect more increases
by Daniel Houston Nov 5
Recent pullback in mortgage rates lifts outlook for home demand
A monthlong upswing in mortgage rates came to a halt in the past 2 weeks, with rates for 30-year loans retreating back below 3 percent
by Daniel Houston Nov 11
UWM shares hit all-time low on news of secondary offering
Proceeds of non-dilutive, secondary offering of 50 million shares will go to company controlled by Ishbia family
by Matt Carter Nov 17
After rocky November, rates for 30-year mortgages stabilize above 3%
The average rate for a 30-year mortgage has been climbing in recent months and now rests 17 percent higher than its all-time low in January, according to Freddie Mac’s latest lender survey
by Daniel Houston Dec 2
Better CEO under fire after Zoom call layoffs go viral on TikTok
The online mortgage company is facing scrutiny from former employees and on social media, where a video of CEO Vishal Garg firing employees over Zoom drew thousands of reactions
by Daniel Houston Dec 6
It's the end of the road for LIBOR mortgages
Regulators spell out rules for transitioning ARM borrowers to other indexes by 2023
by Matt Carter Dec 7
'I blundered': Better CEO apologizes to workers after layoffs go viral
Better CEO Vishal Garg has apologized to the mortgage company's staff, saying he failed to show adequate respect for the 900 former employees who were let go last week
by Daniel Houston Dec 8
Maxwell aims to help small lenders simplify mortgage document review
Maxwell Processor Edge uses machine learning to help loan processors tackle more work while also cutting loan approval times
by Matt Carter Dec 9
Digital mortgage lender Beeline completes Series A funding round
Latest funding round brings total raised since 2019 to $22 million
by Matt Carter Dec 9
Markets remain volatile, but mortgage rates stay the course
The average rate for a 30-year, fixed rate loan was 3.10% this week, according to Freddie Mac's latest lender survey
by Daniel Houston Dec 10
Senso uses artificial intelligence to help lenders identify homebuyers
Senso Engage provides mortgage prospects with personalized listings prioritized by neighborhood and affordability
by Matt Carter Dec 14
Before the Fed sped up tapering, mortgage rates saw little change
With mortgages likely getting more expensive for borrowers down the road, the rates for 30-year loans have been holding steady for weeks
by Daniel Houston Dec 16
Why the housing market won't burn quite as hot in 2022
The housing market will cool slightly in 2022, but will scorch as a multitude of buyers chase too few homes, according to economic experts who spoke with Inman
by Andrea V. Brambila Dec 30
Mortgage rates dip as Omicron variant triggers market volatility
30-year mortgage rates fell to 3.05%, down 7 basis points from the week prior, according to Freddie Mac’s most recent lender survey, released Thursday
by Daniel Houston Dec 23
On anniversary of all-time low, mortgage rates climb past 3.2%
Mortgage rates rose 11 basis points this week as the Federal Reserve signaled it intends to shrink its balance sheet, according to Freddie Mac’s latest lender survey
by Daniel Houston Jan 6
Redfin ramping up mortgage business with $135M acquisition
Bay Equity Home Loans closed nearly 10 times as many loans as Redfin Mortgage in 2021
by Daniel Houston Jan 12
Foreclosures drop in December, capping off all-time low year
Foreclosure filings dropped 8% in December as a once-feared wave of mortgage defaults has largely failed to materialize, according to a new report from Attom Data Solutions
by Daniel Houston Jan 14
Glenn Sanford on the 1 player that could change the game in 2022
The founder of eXp Realty told Brad Inman there's plenty of business for agents in the year ahead during a Connect Now session Tuesday, but he's also keeping an eye on potential setbacks
by Daniel Houston Jan 25
Mortgage-specific solutions from The Work Number now integrated into Encompass
Mortgage lenders can instantly pull income and employment information tailored to meet specific needs within the loan origination process
by Daniel Houston Jan 27
Pros and cons of a cash deal on a home purchase or sale
While cash may be king in some markets, closing with greenbacks may not always be the best option for homebuyers or sellers
by Jenny Usaj Feb 9
Mortgage lenders more willing to loan to 'non-prime' borrowers
TransUnion finds home loans provided to subprime, near-prime borrowers were up 17.6 percent during Q3 2021
by Matt Carter Feb 2
Canadian-based alternative HELOC provider, Fraction, enters US
Fraction, which launched in Canada in February 2021, is open for business in Washington state, with additional states planned later this year
by Matt Carter Feb 2
Nearly half of financed US homes now worth double their loan amount
Rising home values have been a boon for owners, with nearly half of mortgaged properties now considered "equity rich" by Attom Data Solutions
by Daniel Houston Feb 3
Anthony Hsieh's $16M vote of confidence in LoanDepot
The LoanDepot founder and CEO has racked up $2.2 million in paper losses on the 3.15 million shares in the company he's bought since November
by Matt Carter Feb 17
Mortgage payments shoot past their 2007 highs — and at faster pace
Rising home prices don't always mean higher monthly payments. But as the pandemic-era market wears on, buyers are increasingly feel the squeeze
by Daniel Houston Feb 25
Fifth Wall real estate investment firm bails on latest plan for SPAC
Fifth Wall had planned to raise up to $150M to create a SPAC focused on investing in the real estate industry. The company would have traded on the Nasdaq under the ticker FWAB
by Taylor Anderson Mar 1
Home lending activity drops at fastest pace in 3 years
Loan activity dropped 11%, the fastest rate of decline since 2019, according to Attom Data Solutions. Refinance, purchase, home-equity mortgages were down in the fourth quarter of 2021
by Taylor Anderson Mar 4
Prices surged in February amid ‘extreme shortage of homes’
The median home-sale price rose to an all-time high of $363,975 in February, and Russia’s war on Ukraine is partially to blame, a new Redfin report says
by Taylor Anderson Mar 4
Demand for purchase loans jumps 9% as mortgage rates briefly dip
Rates are rebounding as bond market investors weigh the prospect that the economic fallout from Russia’s invasion of Ukraine could eventually lead to higher energy costs that fuel inflation
by Matt Carter Mar 9
Condo or co-op in NYC? Help your buyers make the right choice
It used to be that a condo was where you took a buyer who couldn’t pass a co-op board. Now, however, it's easier for developers to finance a condominium and simpler for buyers to apply
Referral app sends agents' clients to cofounder's mortgage company
Realfinity co-founder Erwin Robert Hirt's mortgage companies have been involved in litgation over loan officer compensation and suspected client data breach
by Matt Carter Mar 22
‘Modern-day redlining:’ Wells Fargo faces scrutiny over Black refi stats
The lender says credit scores, home appraisals and broader inequities in the U.S. economy explain the higher approval rates for white borrowers
by Matt Carter Mar 21
Judge allows sale of troubled mega-mansion, concluding 10-year saga
Approved by a bankruptcy judge Monday, the $126M sales price for 'The One' caps a decade-long saga of construction delays and price overruns. Approval came over objections from creditors
by Taylor Anderson Mar 22
Pennymac lays off 236 workers after upping tech, marketing investments
The layoffs come as Pennymac ups its investment in technology and marketing to help it do more business directly with consumers and mortgage brokers
by Matt Carter Mar 29
Home affordability erodes at fastest annual pace since 2004
Despite record-high prices, homes remain much more affordable for buyers than they were in 2006, but buying power has taken a big hit lately
by Daniel Houston Mar 30
New tools from Clear Capital facilitate desktop appraisals
Real estate agents and brokers approved by Clear Capital provide property information that supplements data from public sources, helping appraisers complete accurate desktop appraisals
by Matt Carter Mar 31
Home prices may be 'unhinged' from fundamentals, Fed analysts say
For months, the rise in home prices was in line with underlying indicators. Now, it may have gone too far, a Dallas Fed report suggests
by Daniel Houston Apr 1
Ally now offers mortgages powered by Better in 46 states
Hawaii, Nevada, New Hampshire and New York are the final states to check off in order for Ally to realize its goal of providing digital mortgages nationwide
by Matt Carter Apr 1
RenoFi lands $14M Series A to connect home renovators to lenders
The origination and underwriting platform allows homeowners to borrow up to 90% of their home’s 'future value' — after remodeling is complete
by Matt Carter Apr 5
Sagent keeps lining up deals after starting year with a bang
Pittsburgh-based Clearview Federal Credit Union partners with Sagent to bring its mortgage servicing business in-house. The company has announced several similar deals in months past
by Matt Carter Apr 6
Mortgage rates surge to 5% as era of the ultra-cheap loan begins to fade
After hovering near 3% for nearly 2 years, mortgage rates have rebounded faster than expected. But amid uncertainty, economists are divided on whether 5% rates are here to stay
by Daniel Houston Apr 7
Would-be homebuyers rushed to lock in mortgage rates in March
Despite the fastest one-month rise in mortgage rates in nearly 13 years, purchase lock volume climbed 31% from February likely driven by borrowers moving to secure loans before rates rise
by Matt Carter Apr 10
Consumer-permissioned data could speed mortgage approvals
BeSmartee's lender clients now have access to MeasureOne's automated income and employment verification capabilities, a partnership that will allow lenders to process loan applications faster
by Matt Carter Apr 12
Ribbon wants to free buyers from the pitfalls of chain transactions
Ribbon co-founder and CTO Wei Gan says he wants homebuyers to be able to move beyond the traditional model of selling before buying, giving latitude to all sets of buyers
by Matt Carter Apr 18
Power Buyer Ribbon plans to add 6 new states in Q2, upping count to 17
Having recently expanded into the Midwest and Mid-Atlantic regions, the company is on track to having a presence in 17 states
by Matt Carter Apr 18
HUD to 'punish' appraisers and lenders who discriminate
Shortly after the Biden administration announced its plan to end housing discrimination, HUD Secretary Marcia Fudge said the department is taking a more hardline approach to enforcement
by Marian McPherson Apr 22
As mortgage lenders' costs rise, so do homebuyers' closing costs
Rising home prices and lender costs helped drive up homebuyers' closing costs by 13.4% in 2021, to an average of $6,905. Loan production expenses hit an all-time high during Q4 2021
by Matt Carter Apr 22
Rocket and Wells Fargo eye buyouts and layoffs in face of rising rates
Rocket Mortgage and Amrock, Rocket’s title and settlement company, are offering buyouts to 8% of its workforce while Wells Fargo confirmed with Inman that it laid off employees last week
by Matt Carter Apr 28
Purchase loan demand perks up as mortgage rates plateau
Uptick in loan requests is 'potentially a good sign for the spring home buying season, which has seen a slow start thus far' says MBA forecaster Joel Kan
by Matt Carter May 4
Is now a good time to buy a home? Agents confront mortgage riddle
Buyers have watched mortgage rates shoot from 3% to 5% this year alone, and that common refrain — 'Is it really the best time to buy?' — is always top of mind for clients, agents told Inman
by Daniel Houston May 4
Homebuyer demand for mortgages 'consistent and resilient' in April
Lenders saw much of what was left of their refinancing business evaporate as rates climbed to their highest levels in nearly 13 years
by Matt Carter May 8
LoanDepot to lay off workers as originations plunge 48%
Mortgage lender suspends its quarterly dividend after posting a $91.3 million first quarter loss
by Matt Carter May 10
Morty now providing jumbo mortgages up to $3M in 44 states
Online mortgage marketplace focused on homebuyers has doubled its headcount over the last year to 70, as it continues to pursue a goal of serving homebuyers nationwide
by Matt Carter May 11
Homebuyers showing 'some resiliency' to higher rates
Demand for purchase mortgages increases for a second week in a row, but borrowers are increasingly turning to adjustable-rate loans
by Matt Carter May 11
As hate crimes rose, 70% of Asian buyers moved to safer areas in 2020
Discrimination, mortgage readiness and affordability continue to be significant hurdles for Asian American and Pacific Islander communities, according to new report released Wednesday
by Marian McPherson May 12
Redfin economist: The Fed can change its mind
Abrupt policy shift not expected, but Fed chair confirms that, 'If things come in better than we expect, then we’re prepared to do less'
by Matt Carter May 13
Competition declines for second straight month, report finds
Just 60.7% of home offers crafted by Redfin agents encountered competition in April — the lowest level since March 2021
by Ben Verde May 18
Homepoint is first wholesale lender with cash offer product
Powered by Accept.inc, Homepoint Cash Compete program is available at launch in six states: California, Colorado, Minnesota, Oregon, Texas and Washington
by Matt Carter May 24
Lower mortgage rates fail to rekindle homebuyer interest
As mortgage rates continued to retreat from highs set the first week in May, demand for purchase loans was essentially flat last week, according to MBA's Weekly Mortgage Applications Survey
by Matt Carter May 25
Sellers are reducing asking prices. But don’t expect house prices to drop, economist says
Affordability challenges mean some sellers are reducing asking prices, but demand for homes continues to outpace supply, says First American Chief Economist Mark Fleming
by Matt Carter May 27
Zombie foreclosures post 1st increase since moratorium's end
The number of vacant properties going through the foreclosure process is up once again to just over 7,500 in Q2, according to Attom Data Solutions, even as fewer total properties lie vacant
by Daniel Houston Jun 1
Panthers owner seeks bankruptcy protection for his real estate firm
A real estate LLC operated by David Tepper, the richest owner of an NFL team, filed for Chapter 11 after an $800M project fell through
by Daniel Houston Jun 2
House payments have skyrocketed. Are they finally beginning to peak?
Mortgage payments are as high as it's been in recent memory. But a sudden slowdown in growth may spell a turning point for the market
by Daniel Houston Jun 24
Buyers are still competing. Here's how to best help them
Opinion
Everyone understands a buyer can get cold feet or buyer’s remorse in a changing market, so demonstrating commitment is paramount
by Mark Choey Today 1:39 A.M.
Tim Heyl lays out the 3 key issues Power Buyers should focus on today
Power buyers became synonymous with cash offers during the first 2 years of the COVID housing market. Homeward's CEO shares what's next for the sector ahead of Inman Connect Las Vegas
by Taylor Anderson Today 9:27 A.M.
AnnieMac expands mid-Atlantic presence, acquires OVM Financial
Rising mortgage rates are prompting some lenders to downsize to adapt to changing market conditions. But the market shift is also expected to drive mergers and acquisitions
by Matt Carter Today 12:39 P.M.