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
Stewart Valuation Intelligence (SVI) is the latest technology vendor to be approved by Fannie Mae to support new value acceptance + property data valuation process
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"
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
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
One-year agreement calls for RESAAS and Rocket Mortgage Canada to share revenue generated by new mortgages, mortgage renewals and refinances
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
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
Homebuyer demand for purchase loans up 8% last week even after adjusting for the expected seasonal boost from the spring homebuying season
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
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
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
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
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
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
Mortgage rates expected to ease even as Fed vows to continue 'quantitative tightening' that's trimming mortgage holdings by $35B a month
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
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
$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
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
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
San Francisco-based cloud banking software provider has trimmed the company's payroll by nearly 800 employees and cut annual expenses by $72M
Struggling mortgage lender also assures investors that it has moved $225M in cash it held at Signature Bridge Bank to another institution
Acquisition of Colorado-based Cherry Creek Mortgage expands Guild's retail branch network by 68 offices in 45 states, adds reverse loan options
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
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
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
Federal Trade Commission alleges the deal would put an end to intense competition between the companies and drive up costs for lenders and homebuyers
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
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
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
The CFPB alleges mortgage servicers charged excessive late fees, assessed 'fake' private mortgage insurance premiums and made homeowners pay for unnecessary inspections
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
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
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
Companies say that instead of laying off workers, they're trimming their payrolls through attrition or by offering voluntary buyouts
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
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
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
After posting $493M Q4 loss, Rocket executives say they're focused on reaching homebuyers through the wholesale channel and new personal finance app, Rocket Money
Real estate software, data and analytics company signs new customers to book $452.5M 2022 profit, up 118% from 2021 with revenue climbing 5% to $1.55B
Through Better's Equity Unlocker program, borrowers pay a higher interest rate and Better can seize pledged shares if owners default or try to sell their stock before paying off their mortgages
New API integration allows lenders to generate 'highly tailored' marketing materials that include rate, monthly payment and APR based on unique borrower details
Federal Trade Commission not convinced that Black Knight's plans to spin off its Empower loan origination system allays antitrust concerns, 'Politico' reports
By one measure, the mortgage giants have built up two-thirds of the reserves needed for them to be released from government conservatorship
Premium cuts are expected to save borrowers $678M a year but don't apply to existing loans or release homeowners who have built up equity from 'life-of-loan' requirements
The deal is touted as a way to give mortgage lenders critical information about borrowers and properties at the beginning of the loan process to streamline closings
Demand for purchase loans down 18% week over week and 41% from a year ago as mortgage rates rise for the second week in a row to hit new 2023 highs, MBA survey shows
Even after ending its iBuyer program, Zillow remains bullish on mortgage. But first it has to totally reimagine its website, analysts and executives tell Intel. What could possibly go wrong?
Double-digit growth in open offices was a bright spot for parent company RE/MAX Holdings, which reported a $2.6M Q4 net loss as rising rates dented home sales
Integration of Wolters Kluwer's eNote and eVault capabilities into Black Knight's digital closing solution, Expedite Close, eliminates need for multiple vendors
Study led by economists at the Environmental Defense Fund identifies some surprising regions, such as Appalachia and northern New England, as overvaluation hotspots
Mortgage rates have been inching up from 2023 lows following a strong jobs report and January's Consumer Price Index readout, which shows only a slight cooling in inflation
The white-labeling program, zavvie Power Buyer, was announced exclusively to Inman and will include 2 models: contingency-free (cash offer) financing and a buy-before-you-sell bridge loan
Rising mortgage rates have many lenders looking to sell servicing rights, creating opportunity for Dallas-based company that now collects payments on $870B in loans
Shares in the Hubzu operator touched a new 52-week low Friday as the company released details of a plan to pay off a portion of its nearly $200M debt burden by issuing up to 4.6M shares
Debt-burdened company notified regulators in December of plans to raise up to $100M through public stock offering on way to posting $53M 2022 net loss
Strong job numbers spark fears that the Fed will need to stick to its guns and continue to raise rates and keep them elevated for some time to fight inflation
Ohio-based myCUmortgage signed 9 credit unions serving more than 380,000 members as new partners in 2022, touting opportunity to win repeat business as the loan servicer
Florida's largest community bank, Amerant Bank, continues to grow the national footprint of its mortgage subsidiary, Amerant Mortgage, through acquisitions
Struggling lender's pivot to reverse mortgages creates an opportunity for big private mortgage insurer to acquire Agents National Title and Boston National Title
Struggling iBuyer confirms the company has laid off an unspecified number of employees in a second round of layoffs, with more details coming on Feb. 22 Q4 earnings call
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
Nashville, Tennessee-based Fourth Capital Bank is the first to integrate Rocket Mortgage’s digital mortgage application using new platform developed by Q2 Software
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
Purchase loan requests rise 3% week over week as mortgage rates ease but remain down 39% from the same time a year ago
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
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
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
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
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
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
Lower's 'mortgage as a service' platform lets brands offer digital-first mortgages through application programming interface and no-code solutions
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
The market isn't done falling but could soon stabilize, according to a survey of real estate executives and economists conducted by Point
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
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
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
Nashville, Tennessee-based lender to serve entrepreneurs and gig workers nationwide, accepting alternative forms of income and assets including cryptocurrency
Ad marketplace is first to implement Optimal Blue's new lead-quoting application programming interface, allowing ads to display rates from multiple lenders
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
Mortgage rates remain well below 2022 highs as the spring homebuying season approaches, according to a weekly lender survey by the Mortgage Bankers Association
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
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
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
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
Mortgage data analytics provider that's pioneering attorney title opinion letters expanded digital asset capabilities in September with $101M Blue Water acquisition
The industry dodged a meltdown, but skyrocketing mortgage rates fueled a rush to 'right size' and helped crown a new leader in mortgage lending
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
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
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
Coraopolis, Pennsylvania-based BCHH provides national title and settlement services to mortgage servicers, real estate investors, asset management companies and government entities
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
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
Federal regulations provide 'zero tolerance' for miscalculating real estate transaction taxes when providing TILA-RESPA integrated disclosure to borrowers, Black Knight warns
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
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
Harris Poll: 71% of Americans would be hesitant to move due to economic uncertainty over concerns such as interest rates, inflation or a recession
The growing marketing platform counts multilocation brands, such as Ace Hardware, Ford Motor Company and Smashburger as clients
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