As mortgage rates soared last year, loanDepot slashed $693M in annual expenses but saw loan origination volume plunge by 58% from the year before, to $22.7B, as refinancings evaporated
Polly says Lender Intelligence harnesses advanced data science and machine learning tools to give lenders a holistic view of their business and the wider competitive landscape
Nation's largest mortgage lender trims its $300B servicing portfolio by nearly one-fourth, selling $70B in mortgage servicing rights for $941.2M, excess cash flows on $19.4B in loans for $150.9M
Surprise announcement comes on same day Biden administration rolls out $7.3T budget proposal that would provide $258B to expand access to affordable housing
In a pilot program announced last week, the Biden administration cleared the way for Fannie Mae and Freddie Mac to let some homeowners refinance mortgages without paying for title insurance
California Housing Finance Agency to use lottery system to allocate $220M in 'Dream for All' shared appreciation loans that cover down payments for eligible first-time homebuyers
The set of new housing initiatives also includes a 1-year tax credit of up to $10K to households that sell their starter home. NAR applauded the president's commitment to aiding the industry
Purchase loan applications jump by a seasonally adjusted 11% after 5 consecutive weeks of declines as mortgage rates continue to retreat from 2024 highs
Integrations helped the income and employment data provider grow its mortgage customer base and attract backing from Rockefeller Asset Management’s Fintech Innovation Fund
Worries about commercial real estate are making jumbo mortgages costlier, since regional banks are a major provider of loans that are too big for Fannie Mae and Freddie Mac
In December, a Pulsenomics panel of more than 100 housing experts expected homes to appreciate by 2.4% in 2024. Now they're predicting prices will go up by 3.8%
'Quantitative tightening' — the Federal Reserve's moves to trim $35B in mortgages from its balance sheet each month — could keep mortgage rates from falling dramatically this year
Fannie and Freddie's federal regulator wants lenders to synchronize adoption of bi-merge credit reporting with more inclusive FICO Score 10T and VantageScore 4.0 scoring models
A key Fed inflation metric, the PCE price index, continues to drop toward the Fed's 2% inflation target, falling from 2.6% annual growth in December to 2.4% in January
Nation's biggest mortgage lender posts first annual loss since going public in 2020, largely driven by an $854.1M write-down in the value of UWM's $300B mortgage servicing rights portfolio
With mortgage rates hovering above 7%, requests for purchase loans were down by a seasonally adjusted 5% week over week and 2% lower than a year ago, MBA lender survey finds