Mortgage rates back at 7% as bond market investors stage rebellion
'Bond vigilantes' figure 'no matter which party wins the White House and the Congress, fiscal policies will bloat the budget deficit and heat up inflation,' Wall Street veteran Ed Yardeni warns
by Matt Carter Oct 28
Redlining settlement wouldn't resolve 1st Amendment questions
The CFPB claimed statements made by hosts of Townstone Financial's AM radio call-in show and podcasts discouraged Black Chicago residents from applying for a mortgage
by Matt Carter Oct 25
Profits roll in at Mr. Cooper as it pursues tech-fueled growth
Deal to acquire Flagstar’s mortgage servicing business later this year is projected to grow Mr. Cooper's customer base to nearly 7M and servicing portfolio to $1.59T
by Matt Carter Oct 23
Rising mortgage rates are taking their toll on homebuyer demand
Demand for mortgages is at the lowest level since July, although MBA survey shows purchase loan requests are up slightly from a year ago when rates were headed for post-pandemic highs
by Matt Carter Oct 23
California is 2nd state to revoke LoanSnap's license this month
Costa Mesa, California-based provider of debt consolidation loans saw most of its business dry up last year and was evicted from its headquarters in May
by Matt Carter Oct 22
Rocket Mortgage, Solidifi among defendants in appraisal bias suit
Department of Justice alleges appraisal that erased $220K from Denver duplex's value discriminated against Black owner and thwarted her attempt to refinance at lower rates
by Matt Carter Oct 22
Mortgage rates bounce back to July levels on inflation worries
Another worry for bond market investors is quantitative tightening, the Fed's program to trim its massive holdings of government debt and mortgage-backed securities
by Matt Carter Oct 21
Flagstar shedding 1,900 workers, but many could land at Mr. Cooper
A majority of the 1,200 Flagstar employees being let go in $1.4B sale of the company's mortgage servicing business will be offered the opportunity to transfer to Dallas-based Mr. Cooper
by Matt Carter Oct 18
Strong economy may prop up home prices, mortgage rates
Fannie Mae economists say surprising strength of the US economy means home prices are likely to keep rising, and mortgage rates may not come down as quickly as previously expected
by Matt Carter Oct 17
How to use down payment assistance to close more deals
Looking for a way to differentiate the service you provide to buyers? Luke Babich writes that a top-down knowledge of down payment assistance programs in your area can help you stand out
by Luke Babich Oct 17
Would-be homebuyers put off by higher mortgage rates
Demand for purchase mortgages fell by a seasonally adjusted 7% last week, and requests to refinance were down 26% as mortgage rates continued to climb, MBA survey finds
by Matt Carter Oct 16
Fairway blasts federal regulators in $10M redlining settlement
Nation's third biggest lender casts itself as a victim of politics, noting Consumer Financial Protection Bureau launched its investigation the day after Biden Administration took office
by Matt Carter Oct 16
Trump, Harris housing policies emerging from the rhetoric
Housing policy has gotten short shrift in the debates, with a tight focus on immigration and inflation. But the candidates' platforms — and Project 2025 — provide more details
by Matt Carter Oct 16
PrimeLending just hired a rival's CEO to be its new head of growth
Former Benchmark Mortgage CEO Brian McKinney has been charged with driving company growth after launch of a more inclusive mortgage underwriting process and home equity product
by Matt Carter Oct 15
Floify teams with Argyle for income and employment authentication
Mortgage tech provider Floify's partnership allows lenders to perform Freddie Mac- and Fannie Mae-compliant verifications without leaving the Floify platform, executives announced Thursday
by Matt Carter Oct 15
LoanSnap's business dried up. Now regulators are after its licenses
Connecticut has entered into a consent decree revoking the fintech mortgage lender's license, and LoanSnap has been put on notice by California regulators that they intend to do the same
by Matt Carter Oct 11