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
DOJ's 14th redlining settlement is its first with a credit union
Citadel Federal Credit Union 'respectfully disagrees' with allegations, agrees to invest $6.5M and open 3 new branches in predominantly Black and Hispanic neighborhoods in Philadelphia
by Matt Carter Oct 11
Latest inflation numbers could give mortgage rates additional lift
Reports send mixed signals on the economy, with CPI showing prices rose more sharply than expected in September and jobless claims surging to highest level in more than a year
by Matt Carter Oct 10
Mr. Cooper adds to leadership team with eye on technology
Sridhar Sharma, credited with developing Mr. Cooper's patented AI, has been promoted to a new role, and 3 new technology leaders are coming on board from other companies
by Matt Carter Oct 9
Mortgage rates keep rising on strong jobs, economic data
Strong job market rekindles inflation worries, raising the prospect that Federal Reserve policymakers are increasingly likely to cut rates by only a hair in November -- if at all
by Matt Carter Oct 9
Consumer housing sentiment hits 30-month high in September
More than 8 in 10 Americans still said it was a bad time to buy a home, and mortgage rates have been climbing again since Fannie Mae conducted the monthly National Housing Survey
by Matt Carter Oct 7
Rocket hires Venmo, PayPal vet to lead product engineering teams
Papanii Okai will help the mortgage giant harness artificial intelligence and build out the fintech platform that connects its real estate, credit card and personal finance subsidiaries
by Matt Carter Oct 7
Mortgage rates are soaring on strong September jobs report
With a soft landing seen as more likely, analysts say Fed can be more cautious about the pace of future rate cuts and mortgage rates aren't likely to fall below 6% anytime soon
by Matt Carter Oct 4
Homebuyers entering the market even as mortgage rates stabilize
Purchase loan applications are up 9% from a year ago, as inventories of new and existing homes increase and lower mortgage rates help with affordability, MBA lender survey suggests
by Matt Carter Oct 2
Nation's biggest mortgage lender, UWM, jumping on AI bandwagon
Although it doesn't work directly with consumers, this year UWM has rolled out AI tools to help mortgage brokers serve both homebuyers and homeowners who might benefit from refinancing
by Matt Carter Oct 2