Mortgage rates may ease as modest Fed rate hike could be its last
Fed Chair Jerome Powell is telegraphing one more small adjustment in March, but some bond market investors think rate hike campaign may now be over
by Matt Carter Feb 1
In a first, Rocket Mortgage powers mortgages for a community bank
Nashville, Tennessee-based Fourth Capital Bank is the first to integrate Rocket Mortgage’s digital mortgage application using new platform developed by Q2 Software
by Matt Carter Jan 31
Freed from iBuying, Zillow wants more from its mortgage arm in 2023
To outside analysts, it appears Zillow got out of iBuying just in time. Now the company is looking ahead to a post-downturn world. Here are the biggest challenges Zillow will face in 2023
by Daniel Houston Jan 30
Homebuyer demand for mortgages up for second week in a row
Purchase loan requests rise 3% week over week as mortgage rates ease but remain down 39% from the same time a year ago
by Matt Carter Jan 25
Rates may ease, but affordability tools will still be in demand
Zillow, UWM executives are optimistic mortgage rates will come back down but advised real estate agents at Inman Connect New York on Tuesday to get familiar with affordability tools
by Matt Carter Jan 24
Risk has re-entered the financing conversation
Bob Groody of Maxwell and Shant Banosian of Guaranteed Rate discussed the current state of creative financing tools for consumers at Inman Connect New York on Tuesday
by Ben Verde Jan 24
New American Funding referring homeowners to EasyKnock
Independent mortgage lender is now sending homeowners who are interested in converting their home equity into cash over to EasyKnock to explore a sale-leaseback
by Matt Carter Jan 24
NAR: New Fannie and Freddie mortgage fees will hit middle class
The mortgage giants' federal regulator eliminates upfront fees for first-time homebuyers of limited means, but some better-off borrowers will see increases starting May 1
by Matt Carter Jan 20
Home prices are looking softer to Fannie Mae economists
National home prices are projected to fall 6.7% over the next 2 years, with sales also expected to drop 21% this year to a level not seen since 2010, Fannie Mae forecasters said
by Matt Carter Jan 20
Knock increases bridge loan for home prep to $35,000
The 6-month loan is a component of Home Swap that allows clients to prepare a home for market through basic repairs, small finish upgrades, painting and other items buyers look for in a home
by Craig C. Rowe Jan 18
Lower signs Opendoor as first mortgage platform customer
Lower's 'mortgage as a service' platform lets brands offer digital-first mortgages through application programming interface and no-code solutions
by Matt Carter Jan 17
Splitero's $11.7M Series A takes aims at HELOC market
San Diego-based Splitero has secured more than $1B in total financing to back its model, which offers cash payments, or Home Equity Investments (HEI), to homeowners
by Craig C. Rowe Jan 17
Agree to disagree: 11 real estate leaders dust off crystal ball for 2023
The market isn't done falling but could soon stabilize, according to a survey of real estate executives and economists conducted by Point
by Daniel Houston Jan 17
City National Bank to pay at least $31M to settle redlining charges
Biggest redlining settlement in DOJ history is 5th enforcement action since launch of initiative to combat redlining in 2021, with $75M in relief to date. Bank denies it engaged in redlining
by Matt Carter Jan 13
Inman unveils inaugural 2023 Power Players awards
With its inaugural Power Players list, Inman recognized more than 120 industry leaders for their influence and ingenuity as it kicks off a year of expanded awards
by Inman Jan 12
Refis ramp up as rates fall to 6.28% — but homebuyers stay on the fence
Requests to refinance accounted for 31% of all loan applications last week, well below the past decade’s average of 58%, according to a weekly MBA lender survey
by Matt Carter Jan 11
Defy Mortgage launches as new player in non-QM lending
Nashville, Tennessee-based lender to serve entrepreneurs and gig workers nationwide, accepting alternative forms of income and assets including cryptocurrency
by Matt Carter Jan 10
Cordless Media ads on MLSs will provide real-time mortgage rates
Ad marketplace is first to implement Optimal Blue's new lead-quoting application programming interface, allowing ads to display rates from multiple lenders
by Matt Carter Jan 10
Homebuyer sentiment ticks up again on signs of market top
More consumers are coming around to economists' views that home prices and mortgage rates probably peaked last year, according to a monthly survey by Fannie Mae
by Matt Carter Jan 9
older millennial
Mortgage rates remain well below 2022 highs as the spring homebuying season approaches, according to a weekly lender survey by the Mortgage Bankers Association
by Matt Carter Jan 4
DFCU Financial to offer mortgages to buyers on Florida's Gulf Coast
Michigan-based credit union expands into Florida by closing merger with Tampa-based First Citrus Bank. Full product and service integration is expected by mid-2023
by Matt Carter Jan 3
CIBM Bank out to double mortgage originations with new hires
Illinois-based bank hires new mortgage ops director and will add 30 new mortgage loan officers to expand into Arizona, Connecticut, Florida, Massachusetts, New York and Rhode Island
by Matt Carter Jan 3
Cornerstone Home Lending gives sales teams national scope
Merger with Roscoe State Bank means the Houston-based company's loan officers are now federal mortgage loan originators who can offer purchase loans and refinancing in 37 states
by Matt Carter Jan 3
After banner year, mortgage brokers seek more political clout
The Association of Independent Mortgage Experts, a trade group representing mortgage brokers, launched a PAC and more than doubled its spending on lobbying in 2022
by Matt Carter Dec 30
Mortgage finance veteran Nick Smith joins Voxtur's board
Mortgage data analytics provider that's pioneering attorney title opinion letters expanded digital asset capabilities in September with $101M Blue Water acquisition
by Matt Carter Dec 28
The biggest mortgage, lending and housing finance stories of 2022
The industry dodged a meltdown, but skyrocketing mortgage rates fueled a rush to 'right size' and helped crown a new leader in mortgage lending
by Matt Carter Dec 28
Mortgage lenders innovate to help homebuyers cope with higher rates
Rocket, Guild and UWM are among lenders providing homebuyers with options, such as temporary rate buydowns and reduced fees on refis if rates come down from 2022 peaks
by Matt Carter Dec 27
Homes could get more affordable even if prices don't come down
Homebuyer affordability could improve by 9% by the end of next year if mortgage rates continue to fall and home prices plateau as expected, First American economist predicts
by Matt Carter Dec 27
A basketball just missing the basket
Deal that values Suns and Mercury at $4B sets the stage for nation's largest mortgage lenders, United Wholesale Mortgage and Rocket Mortgage, to be court rivals
by Matt Carter Dec 21
Stewart targets institutional investors with BCHH acquisition
Coraopolis, Pennsylvania-based BCHH provides national title and settlement services to mortgage servicers, real estate investors, asset management companies and government entities
by Matt Carter Dec 20
Wells Fargo paying $3.7B to settle mortgage, auto loan allegations
Federal regulators allege bank improperly denied thousands of mortgage loan modifications over at least 7 years, in some cases leading customers to lose their homes
by Matt Carter Dec 20
Improved mortgage rate outlook could bode well for home sales
Fannie Mae economists not quite as gloomy about 2023 home sales outlook as mortgage rates retreat from 2022 highs and with potentially more room to ease
by Matt Carter Dec 19
Real estate transfer tax hikes create headaches for mortgage lenders
Federal regulations provide 'zero tolerance' for miscalculating real estate transaction taxes when providing TILA-RESPA integrated disclosure to borrowers, Black Knight warns
by Matt Carter Dec 19
Fed slows rate hikes, but remains wary of entrenched inflation
50 basis points 'is still a historically large increase and we still have some ways to go,' Fed Chairman Jerome Powell warns after policymakers wrap up final meeting of the year
by Matt Carter Dec 14
The Real Brokerage closes deal to acquire LemonBrew Lending
This year's acquisitions of LemonBrew Lending and Expetitle pave the way for the company to provide end-to-end services to homebuyers in many markets
by Matt Carter Dec 9
Surveys show impact of mortgage 'lock-in effect' on seller psychology
Harris Poll: 71% of Americans would be hesitant to move due to economic uncertainty over concerns such as interest rates, inflation or a recession
by Matt Carter Dec 8
Motto Mortgage partners with SOCi for online reputation management
The growing marketing platform counts multilocation brands, such as Ace Hardware, Ford Motor Company and Smashburger as clients
by Matt Carter Dec 7
Homebuyer sentiment up slightly in November for first time in 9 months
Fannie Mae's National Housing Survey shows consumers remain concerned about factors, including the outlook for home price declines, mortgage rates and access to mortgage credit
by Matt Carter Dec 7
Venture capital giants like Pylon's embeddable mortgage offering
$8.5M seed funding round led by Conversion Capital, with participation from Fifth Wall, Peter Thiel, QED Investors, Montage Ventures and Village Global
by Matt Carter Dec 6
Home price declines leave 450,000 borrowers underwater
Six out of 10 borrowers who owe more on their mortgages than their homes are worth bought or refinanced their homes in 2022, according to the latest Black Knight Mortgage Monitor
by Matt Carter Dec 5
Tomo enters 5 new states, launches real-time preapproval process
After laying off workers in May, Tomo is in expansion mode again with launches in Maryland, New Jersey, Oregon, Pennsylvania, Virginia and Washington D.C.
by Matt Carter Dec 1
First Community Mortgage recognized for ethical practices
Subsidiary of First Community Bank of Tennessee announced Midwest expansion in October and has also been recognized for its efforts to reach a diverse population of borrowers
by Matt Carter Nov 30
Keller Williams mortgage exec leaves after less than 2 years
Dave Smith joined Keller Williams in 2021. He presided over the firm's lending efforts during a period of increasing difficulty for the mortgage business
by Jim Dalrymple II Nov 30
Purchase mortgage demand up 4th week in a row as rates fall
Without adjustment for seasonal factors, demand for both purchase loans and refinancing remains at their lowest levels since 2000, according to MBA lender survey
by Matt Carter Nov 30
Fannie and Freddie get green light to buy $1M mortgages
The big run-up in home prices may have cooled, but the 2023 conforming loan limit will be increased by 12% to $726,200 in most parts of the country
by Matt Carter Nov 29
Mortgage demand up for 3rd week in a row as rates continue to ease
Economists forecast mortgage rates will continue to fall as Federal Reserve minutes suggest policymakers are preparing to wind down an aggressive campaign to fight inflation
by Matt Carter Nov 23
First American's PRISM platform evolving beyond title insurance
After paymints.io deal, First American is evaluating additional third-party integrations to simplify transactions from point of sale to handing over the keys
by Matt Carter Nov 18
Surveys reveal why some buyers don't shop for a mortgage
Shopping around can save thousands of dollars, but 1 in 3 prospective homebuyers only get a quote from one lender, Fannie Mae surveys show
by Matt Carter Nov 18
Carrington grudgingly signs off on $5.25M COVID-19 relief settlement
CFPB alleges some homeowners who sought forbearance during the pandemic were charged improper late fees and weren't fully informed of their options
by Matt Carter Nov 17
Point's Eddie Lim: The tourist real estate investors have left the market
At Connect Now on Thursday, moderator Clelia Peters was joined by Eddie Lim who founded Point after he found himself rattled by the traditional process of trying to access home equity
by Craig C. Rowe Nov 17
As Fed walks a tightrope, the balance may swing on housing
Central bank policymakers are trying to tame inflation while avoiding a deep recession. The home market could throw a wrench in those plans
by Daniel Houston Nov 16
NAR chief economist expects price of office space and apartments to dip
Lawrence Yun expects employees to spend 25% to 35% less time in the office, keeping downward pressure on office rent. The multifamily sector also saw prices drop with high borrowing rates
by Taylor Anderson Nov 14
Mortgage rates tumble on signs that inflation is easing
Rates for several types of mortgages fell more than half a percentage point Thursday, with 30-year fixed-rate mortgages averaging 6.62%
by Matt Carter Nov 10
Survey: Mortgage lenders missing chance to build trust with borrowers
JD Power warns that the mortgage customer experience is increasingly commoditized, with few lenders finding the right formula to be seen as trusted advisers
by Matt Carter Nov 10
Black Knight signs another credit union as Empower client
San Diego-based BluPeak is the 9th credit union Black Knight has signed to use its mortgage loan origination system in the last 12 months
by Matt Carter Nov 9
Better.com laid off employees who were on parental leave: Lawsuit
A Better.com employee filed suit in New York alleging the online mortgage company fired him less than an hour after he told them his daughter was born. 17 others may have also been on leave
by Taylor Anderson Nov 9
Flyhomes lays off workers amid 'housing recession'
The layoffs are the second round of job cuts from the end-to-end platform pioneer this year. They also add to thousands of other real estate layoffs in 2022
by Jim Dalrymple II Nov 9
Mortgage giants Fannie and Freddie battened down the hatches in Q3
Fannie and Freddie remain profitable but are setting aside pots of money to cover future losses in the event that falling home prices drive up defaults
by Matt Carter Nov 8
Prices may be dropping, but homes still have loads of equity
As prices began to fall, home equity held strong. Even the most distressed properties held positive equity in Q3 2022, according to a new report from Attom.
by Daniel Houston Nov 2
Pointing to Ukraine war, Fed approves another drastic rate hike
Federal Reserve Chairman Jerome Powell says pace of rate hikes could slow but may ultimately need to go higher than policymakers had forecast at their September meeting
by Matt Carter Nov 2
LoanDepot launches joint venture with National HomeCorp
NHC Mortgage will offer home loans in Florida, Iowa and North Carolina, with plans to expand to 9 other states in 2023
by Matt Carter Nov 2
Haven scores $8M Series A to help mortgage servicers cross market
Latest funding round, led by Fifth Wall with participation by Fidelity National Financial, RWT Horizons and 1Sharpe Ventures, brings total funding to date to $13.5M
by Matt Carter Nov 1
Prevu acquires lending assets of shuttered competitor Reali
Technology-forward real estate brokerage Prevu has acquired the remaining lending service assets of its collapsed West Coast competitor, San Mateo, California-based Reali
by Craig C. Rowe Oct 26
Splitero expands equity-sharing service into Colorado, Washington
The expansion comes as 85% of homeowners with a mortgage have a rate far below the current 7% yet high equity in their home. Splitero said expansion plans will continue in other states in 2023
by Taylor Anderson Oct 25
Mortgage rates punch through 7% but may pause for Fed clues
Several Fed policymakers have hinted that they'd be open to a smaller increase in short-term rates in December if there are signs that inflation is starting to ease
by Matt Carter Oct 21
First Community Mortgage announces 'major' expansion
FCM lures talent from PrimeLending and invests in technology and diversity to fuel growth as mortgage rates force many lenders to downsize
by Matt Carter Oct 20
Rocket courts correspondent lenders with tech tools
New branded client portal lets homebuyers apply for loans, review documents and e-sign disclosures and closing documents
by Matt Carter Oct 19
Mortgage database created to track bad actors now a recruiting tool
Unique IDs created by Nationwide Multistate Licensing System can reveal competitors' loan originations by product, loan amount, geography and loan officer
by Matt Carter Oct 19
CredEvolv coaches homebuyers to help them qualify for mortgages
Integration with Freddie Mac's HomeCoach tool lets housing counselors access automated underwriting tools used by mortgage lenders
by Matt Carter Oct 18
It's time for the mortgage industry to create meaningful options for homebuyers
Opinion
While mortgage companies go all-in on layoffs and bemoan the state of the industry, they’re failing to provide truly helpful solutions that would reassure buyers and get them into homes
by Troy Palmquist Oct 18
Industry groups renew push for lower FHA mortgage premiums
Black Homeownership Collaborative also asks HUD to ditch a 'life of loan' requirement that forces homeowners to continue paying mortgage insurance premiums in perpetuity
by Matt Carter Oct 17
Mortgage tech provider Lender Price partners with NEXA Mortgage
The deal is the second Lender Price has announced this week to provide broader access to its marketplace product, pricing and eligibility engine
by Matt Carter Oct 13
For the first time, Fannie Mae now expects home prices to fall next year
Economists at Fannie Mae project national home prices to decline by 1.5% and home sales by 21% in 2023 as Fed continues inflation fight
by Matt Carter Oct 12
Mortage applications sag again as rates resume climb to 7%
A rate index published by Mortgage News Daily shows rates on 30-year fixed mortgages averaging 7.14 percent on Tuesday
by Matt Carter Oct 12
Constellation Mortgage Solutions partners with Lender Price
Integration of Lender Price product and pricing engine enables CMS clients to source, price and lock mortgage loans in real time
by Matt Carter Oct 11
CertifID gets tougher on wire fraud with PayoffProtect
The company says its software locks down the typically manual process surrounding the payoff request with machine learning to verify the wiring instructions
by Craig C. Rowe Oct 11
Finance of America exiting wholesale, correspondent lending
The Irving, Texas-based lender is also reportedly in negotiations to sell its retail mortgage division, which employs about 1,000 loan originators nationwide
by Matt Carter Oct 7
UWM can rapidly scale new loans that lack title insurance
The wholesale lender is hiring and training lawyers to generate attorney opinion letters in-house in order to meet what the company expects to be strong demand
by Matt Carter Oct 5
Rocket promotes from within, names new CFO and general counsel
Brian Brown and Tina John are tapped to fill openings created by the retirement of two top executives, Julie Booth and Angelo Vitale
by Matt Carter Oct 4
Homebuyers, lenders increasingly wise to flood risk: Zillow
Mortgage applications were more likely to be denied by lenders or withdrawn by homebuyers in census tracts where a higher share of buildings was at risk of future flooding
by Daniel Houston Oct 4
Mortgage company Cornerstone Home Lending is now a bank
The acquisition and merger with Roscoe State Bank pave the way for the lender to provide new products, services and resources through advanced technologies
by Matt Carter Oct 3
UWM now offering mortgages without lender's title insurance
The nation's largest wholesale mortgage lender moves to capitalize on rule changes by mortgage giants Fannie Mae and Freddie Mac aimed at helping borrowers save on their closing costs
by Matt Carter Oct 3
'Big four' title insurers take market share away from independents
As lenders pivoted from refinancing to more complex purchase loan transactions, independent title insurers saw premiums written drop by 18.4% from a year ago
by Matt Carter Sep 30
WEST adopts name of flagship product MyHome in rebrand
Williston Financial Group subsidiary Williston Enterprise Solutions and Technology establishes an independent identity for MyHome collaboration platform it launched in 2015
by Matt Carter Sep 30
Fannie Mae looks to affordable housing nonprofit for next CEO
Former JP Morgan Chase Director Priscilla Almodovar leads Enterprise Community Partners, which has business ties to the mortgage giant
by Matt Carter Sep 29
RE/MAX's Motto Mortgage named a top 'recession-proof' opportunity
As lenders pivot to serve homebuyers, RE/MAX franchisor's 'mortgage brokerage-in-a-box' also makes separate list of top franchise opportunities for Black entrepreneurs
by Matt Carter Sep 29
Mortgage rates haven't been this chaotic since Black Monday: Study
A buyer looking at $500,000 houses in July would have seen their potential monthly payment fall by $177 in August, then rise by $328 since, according to a new analysis by Redfin
by Daniel Houston Sep 29
CMS seeks to set 'gold standard' in mortgage origination technology
With backing from Canadian software giant Constellation Real Estate Group, Constellation Mortgage Solutions will debut its new NOVA loan origination solution at MBA annual conference
by Matt Carter Sep 28
PNC Bank partners with Blend to digitize mortgage applications
'Strategic partnership' is a win for mortgage tech and title insurance provider Blend, which has cut its workforce by about 25% this year and racked up an accumulated $995M deficit
by Matt Carter Sep 27
Real acquires lending arm of LemonBrew Technologies
Agents working under the banner of Real can now extend mortgage services to their clients as a result of the company's acquisition of LemonBrew Lending
by Craig C. Rowe Sep 26
A new normal, or a ‘new weird’? Home prices climb despite 6% rates
As mortgage rates rose in recent weeks, so did home prices and purchase-loan applications. It's a strange time, a Redfin economist says
by Daniel Houston Sep 22
As it keeps hiking short-term rates, Fed stays the course on mortgages
Fed Chair Jerome Powell says policymakers are not ready to start selling off Treasurys and mortgage debt to accelerate trimming of $9T balance sheet
by Matt Carter Sep 21
Don't expect mortgage rate relief in 2023, Fannie Mae warns in forecast
Even though the economy is probably headed for a recession next year, the Fed is seen as having a ways to go before inflation is under control
by Matt Carter Sep 21
Paymints.io integrates into First American's PRISM platform
Eliminates the need for paper checks by allowing title and real estate agents to request and receive electronic disbursement of earnest money and cash-to-close funds within the platform
by Matt Carter Sep 20
Staircase automates underwriting of private mortgage insurance
MI Underwriting pulls documents and data directly from lenders, allowing mortgage insurers to make instant policy decisions at half the cost
by Matt Carter Sep 19
Competition between top mortgage lenders for homebuyers heats up
Rocket Mortgage rolls out 'Inflation Buster' mortgage, which provides a lower rate for 1 year, as it battles rival United Wholesale Mortgage for homebuyer market share
by Matt Carter Sep 16
Fed finds grim outlook for housing in latest Beige Book
The housing market remains stilted by high mortgage rates with hopes for a turnaround dim, according to the Federal Reserve
by Ben Verde Sep 16
Real estate trade groups prod Biden to cut annual FHA premiums
The NAR, MBA and NAHB argue that the Federal Housing Administration is flush with cash, and that delinquency rates on FHA loans have returned to pre-pandemic lows
by Matt Carter Sep 14
Mortgage rates pass 6% as demand for loans continues dramatic fall
Purchase loan applications fell 29% from the same period last year, the result of rising rates that are double their levels from 2021, according to the Mortgage Bankers Association’s weekly index
by Daniel Houston Sep 14
Credit unions, banks flock to Black Knight's Empower mortgage LOS
IThink Financial, the 8th credit union to sign up for Empower since December, will use the mortgage loan origination system to provide home loans to more than 100,000 members
by Matt Carter Sep 13
Banks reclaim more properties in August as foreclosures tick upward
Foreclosure notices have been on the rise in the past year, but actual bank repossessions remain scarce. That may be starting to change
by Daniel Houston Sep 8
More MSU athletes to plug UWM on social media
The Michigan-based lender's 'name, image and likeness' deal with men's football and basketball teams has expanded to encompass women's basketball and volleyball
by Matt Carter Sep 8
Mortgage demand flattens as rates make another run toward 6%
No sign of a rebound in purchase applications, but August data showing a strong job market 'should support housing demand,' MBA economist says
by Matt Carter Sep 7
Big lenders get a head start, adopt $715,000 conforming loan limit
Moves by Rocket and United Wholesale Mortgage could help borrowers get better rates and make smaller down payments when taking out loans that were previously classified as jumbo
by Matt Carter Sep 7
Mortgage company Homepoint laying off 'hundreds' of workers
The Michigan-based and third-largest wholesale mortgage lender aims to cut costs by more than $100M a year in response to an 'extremely challenging' lending environment
by Matt Carter Sep 2
LoanDepot, appraiser sued after 'whitewashed' home's value surges
Dr. Nathan Connolly and Dr. Shani Mott alleged fair housing and civil rights violations after a second home appraisal came back $278K higher when they removed any indication of their race
Cornerstone Home Lending to become a bank
Approval by bank regulators will allow Cornerstone to 'significantly expand' product and service offerings to hundreds of thousands of customers and referral sources nationwide
by Matt Carter Aug 31
Realtor.com's Move takes a stake in lender matching service Own Up
The partnership was announced along with a $25M funding round led by Brand Foundry Ventures, with participation by Move and existing investors Link Ventures and Listen Ventures
by Matt Carter Aug 31
Borrower surveys pinpoint closings as problem area for lenders
Investments lenders have made to streamline the application process seem to be paying off, but surveys show borrowers are still tripped up by document collection and closings
by Matt Carter Aug 30
The deadline to take Better.com public has been extended again
Better still searches for options to remain a private company as the deadline to become a publicly traded company was pushed to March 8, according to a filing with the SEC
by Taylor Anderson Aug 29
Mortgage rates hold steady after Fed inflation warning
Fed Chair Jerome Powell's Jackson Hole speech spooks stock market investors, but long-term interest rates stable as bond markets bet on slowdown next year
by Matt Carter Aug 26
Clever teams with Total Expert to land more lenders and homebuyers
Clever's integration of Total Expert's CRM and customer engagement platform could help the company drum up homebuyers who aren't already working with real estate agents
by Matt Carter Aug 23
Mortgage lenders use tech and local ties to grow national footprints
Atlanta-based direct mortgage lender Silverton Mortgage, a Snapdocs client, has added new branches in the Carolinas, Arkansas and Missouri over the past year
by Matt Carter Aug 19
First American touts Procision as 'next-generation' valuation model
The three Procision AVM solutions, offered at different price points, are tailored to fit specific needs and budgets of such clients as lenders, servicers and capital market decision makers
by Matt Carter Aug 18
Better HoldCo partners with Palantir on mortgage marketplace
Better describes the Tinman Marketplace as 'the next evolution of Better's proprietary loan platform,' powered by Palantir’s Foundry operating system
by Matt Carter Aug 17
Chinese real estate crash sparks mortgage boycotts
In China, most recent buyers of new apartments took out mortgages before their buildings were finished. Now many are threatening to not pay
by Daniel Houston Aug 17
The 25 fastest-growing real estate companies on the Inc. 5000 list
Mortgage, proptech, investment and property management companies ranked high among Inc.'s annual list of the fastest growing US companies, including names like Orchard and Ribbon
by Lillian Dickerson Aug 16
Rocket scores another deal to provide home loans through banks
Lenders earn a new source of income by integrating Rocket Mortgage's digital mortgage application into an online banking platform developed by Q2 Holdings Inc.
by Matt Carter Aug 12
Zillow Home Loans continues its unprofitable run: Mike DelPrete
Like much of the industry, Zillow's mortgage operation, which includes Zillow Home Loans, has seen a steep decline in revenue and continues to burn cash
by Mike DelPrete Aug 12
Loan applications for home purchases continue 6-week slip
Purchase loan activity has dropped in 5 of the last 6 weeks as some buyers remain wary, according to the Mortgage Bankers Association
by Daniel Houston Aug 11
Homeward sheds 20% of workforce amid 'sudden and sizable' downturn
Founder and CEO Tim Heyl told employees in a letter Wednesday that the slowing market had made a sizable dent in the company's 'buy with cash' product, according to a spokesperson
by Daniel Houston Aug 10
Rocket rolls out home equity loans for debt consolidation
A new product for paying off high-interest credit card debt will be offered to millions of users of Rocket's personal finance app, Truebill
by Matt Carter Aug 1
Homeowners often miffed if lenders outsource servicing: Study
J.D. Power's annual Mortgage Servicer Satisfaction Study finds customer satisfaction is 26% higher when mortgages are originated and serviced by the same company
by Matt Carter Jul 28
Freddie Mac posts healthy profit despite big drop in mortgage volume
The mortgage giant generated more than $2.5B profit and grew its mortgage portfolio despite dramatic declines in new purchase loans and refinancing
by Matt Carter Jul 28
Commission study paid for by HomeServices comes under fire
The study argues that decoupling commissions would harm first-time, low-income, and minority buyers, but critics like the Consumer Federation of America say it's based on a faulty premise
by Andrea V. Brambila Jul 27
Offerings of adjustable-rate mortgages triple in 1 year, up 230%
The number of adjustable-rate mortgages offered to consumers has more than tripled from the 1st half of 2021 to the 1st half of 2022, according to a new report by LendingTree
by Ben Verde Jul 25
Why super long mortgages won't be a thing, and why that's good news
Longer loans, including a 50-year concept recently floated in the UK, are sometimes framed as a way to improve housing affordability. But the experts aren't convinced
by Jim Dalrymple II Jul 15
New MLS company will sell data, pay brokers for their listings
REdistribute, a joint venture formed by California Regional MLS and Bright MLS, plans to deliver aggregated MLS data to financial institutions starting in 2023
by Andrea V. Brambila Jul 14
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 Jul 1
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 Jul 1
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 Jul 1
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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 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
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
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
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
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
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
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
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
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
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
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
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