US Bank, UWM join movement to boost minority lending
With Fannie and Freddie leading the charge, a growing number of lenders are using special purpose credit programs to boost homeownership in underserved communities
by Matt Carter Jul 13
Truework adds fraud protection to automated income verifications
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
by Matt Carter Jul 13
Mortgage rates may have already peaked as inflation cools
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
by Matt Carter Jul 12
Figure powering HELOCs for 4 more independent mortgage banks
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
by Matt Carter Jul 12
Knock Home Swap
Consumer confidence in the housing market 'appears to have plateaued at a relatively low level,' said Fannie Mae Chief Economist Doug Duncan in a new homeowner survey released on Friday
by Matt Carter Jul 7
Mortgage rates hit new 2023 high on strong economic data
Strong jobs numbers and GDP growth have bond market investors convinced it's all but certain the Federal Reserve will resume rate hikes this month
by Matt Carter Jul 6
Zavvie rolls out power buyer services to mortgage lenders
After debuting a power buyer program for real estate brokerages in February, zavvie now has power buyer partnerships with 30 mortgage lenders in 9 states
by Matt Carter Jul 5
Guaranteed Rate buys out partner in mortgage joint venture, Premia
Relocation and moving services provider Sirva Worldwide Inc. has agreed to sell its stake in Troy, Michigan-based Premia Relocation Mortgage LLC for an undisclosed sum
by Matt Carter Jul 5
Supreme Court nixes $430B in student loan forgiveness
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'
by Matt Carter Jun 30
Doma hopes to keep its place on NYSE with reverse stock split
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
by Matt Carter Jun 30
How to become a mortgage broker in 6 steps
Mortgage brokers have to undergo specific training to do their jobs. Those with an aptitude for hard work and client relationships can find great success over the course of their careers
by Lillian Dickerson Jun 30
Good news about economy could send mortgage rates back up
Surprising employment and GDP numbers have investors buying stocks and selling bonds over worries that Fed policymakers will continue hiking rates to combat inflation
by Matt Carter Jun 29
Homebuyer mortgage demand hits highest level since May
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
by Matt Carter Jun 28
Real estate debt marketplace PeerStreet files for bankruptcy
The company intends to sell 'substantially all of its assets,' including its technology platform to pay creditors that include thousands of retail investors
by Matt Carter Jun 28
Mortgage broker salary: How much do they make?
Mortgage brokers typically make a 1% to 2% or more commission from each loan they broker, but a lot of other variables determine how much money they make in a year
by Lillian Dickerson Jun 27
Test triggering $2.3B in mortgage payments leads to $25M fine
ACI Worldwide admits no wrongdoing in settling CFPB's first-ever enforcement action over handling of consumer data in the processing of mortgage payments
by Matt Carter Jun 27