New video explores potential for AI bias in mortgage lending
Experts participating in filmmaker Alice Gu's BAD INPUT argue technology could expand access to credit, but also perpetuate discriminatory lending unless closely overseen
by Matt Carter May 2
Stricter rules eyed for controversial PACE energy improvement loans
Property Assessed Clean Energy (PACE) loans can burden homeowners with higher property tax bills that heighten the risk they'll get behind on their mortgages, federal regulators say
by Matt Carter May 2
What agents need to know as the complex mortgage fee hike kicks in
Loan-level pricing adjustments — a fee on mortgages — led to widespread misinformation leading up to the May 1 hike. Inman spoke to experts about what the changes mean for homeowners
by Taylor Anderson May 1
Inman unveils its inaugural 2023 'Best of Finance' award winners
For the first time in its history, Inman recognized more than 120 companies for their influence and ingenuity in the mortgage and financial services space
by Inman May 1
Mr. Cooper says it will use AI to service $1 trillion in mortgage loans
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
by Matt Carter Apr 27
Impac Mortgage kicked off of NYSE American exchange, shares plunge
Non-QM lender has kept the doors open by slashing costs and repositioning its retail consumer direct channel, CashCall Mortgage, to be a mortgage broker
by Matt Carter Apr 27
Homebuyer demand for purchase mortgages up despite higher rates
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
by Matt Carter Apr 26
Fannie and Freddie's fees going up Monday despite lender objections
The Federal Housing Finance Agency says risk-based fee increases are aimed at ensuring the mortgage giants' safety and soundness, not to subsidize fee waivers for buyers of limited means
by Matt Carter Apr 26
Home sales will be 'subdued' for rest of 2023, Fannie Mae projects
The housing sector's resilience to higher prices and mortgage rates has bolstered prices, but a lack of for-sale inventory is expected to limit sales, according to Fannie's latest monthly forecast
by Matt Carter Apr 25
More tech vendors approved to support appraisal-free mortgages
Stewart Valuation Intelligence (SVI) is the latest technology vendor to be approved by Fannie Mae to support new value acceptance + property data valuation process
by Matt Carter Apr 21
Fairway loses 8 California branches to rival Guild Mortgage
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"
by Matt Carter Apr 20
Legislation aimed at banning mortgage trigger leads is back
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
by Matt Carter Apr 19
Listing shortages kept prices from falling in Q1: Fannie Mae
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
by Matt Carter Apr 18
RESAAS to facilitate referrals to Rocket Mortgage Canada
One-year agreement calls for RESAAS and Rocket Mortgage Canada to share revenue generated by new mortgages, mortgage renewals and refinances
by Matt Carter Apr 18
Marketing guru's run for POTUS puts speakers in awkward position
NAR's Lawrence Yun among prominent figures scheduled to speak at virtual event where Momentifi CEO and U.S. presidential candidate Gibran Nicholas will hawk his book
by Matt Carter Apr 17
Fathom Realty parent company borrows $3.5M from existing investor
Fathom Holdings will pay at least 8% interest on a convertible note company executives say will provide more flexibility as they seek 'cash flow profitability' by Q3
by Matt Carter Apr 14