Uncovering the hidden cost of mortgage loan fee curesFee cures significantly impact mortgage lenders' profits and are often preventable.Lenders face substantial challenges in managing costs related to fee cures without accurate data.
The Acra alternative: Inviting all borrowers to the party with non-QM optionsThe mortgage lending market is shifting; opportunities exist for brokers adapting to the rising rates and evolving borrower needs.
Q1 2024 mortgage lending activity declines to near-record lowMortgage lending in the U.S. dropped by 6.7% in the first quarter of 2024, with tight inventory and high mortgage rates being main culprits.
The Acra alternative: Inviting all borrowers to the party with non-QM optionsThe mortgage lending market is shifting; opportunities exist for brokers adapting to the rising rates and evolving borrower needs.
Q1 2024 mortgage lending activity declines to near-record lowMortgage lending in the U.S. dropped by 6.7% in the first quarter of 2024, with tight inventory and high mortgage rates being main culprits.
Home Loans Simplified for First-Time Buyers ft. LowerOSLower is transforming mortgage lending through technology for better accessibility, especially for younger buyers.
reAlpha gets into the mortgage brokerage biz, acquires Be My NeighborreAlpha Tech Corp. enhances its services by acquiring mortgage brokerage Be My Neighbor, aiming to develop a comprehensive commission-free homebuying platform.
Chris Franquemont returns to Rate after move to CrossCountryChris Franquemont returns to Guaranteed Rate to enhance customer experience with advanced mortgage technology.
Home Loans Simplified for First-Time Buyers ft. LowerOSLower is transforming mortgage lending through technology for better accessibility, especially for younger buyers.
reAlpha gets into the mortgage brokerage biz, acquires Be My NeighborreAlpha Tech Corp. enhances its services by acquiring mortgage brokerage Be My Neighbor, aiming to develop a comprehensive commission-free homebuying platform.
Chris Franquemont returns to Rate after move to CrossCountryChris Franquemont returns to Guaranteed Rate to enhance customer experience with advanced mortgage technology.
MBA, other stakeholders team up to address racial homeownership gapThe CONVERGENCE Collaborative aims to close the racial homeownership gap through collective action among key industry stakeholders.
Scotiabank hires JPMorgan team to lead new mortgage bizScotiabank is expanding into mortgage capital markets by hiring JPMorgan Chase executives.
Fairway eyes reverse mortgage expansion in 2025Fairway Independent Mortgage Corporation will expand its reverse mortgage focus in 2025, especially through HECM for Purchase.
Better hires Patrick Kandianis as new VP of business developmentBetter has appointed Patrick Kandianis as VP of business development to enhance partnerships and focus on the home equity market.Kandianis brings over 20 years of experience in lending sales, aiming to bridge partnerships and business development at Better.
Luminate Home Loans to close NEO divisionLuminate Home Loans is closing its NEO division to focus on integrating mortgage lending into its banking services.
MBA, other stakeholders team up to address racial homeownership gapThe CONVERGENCE Collaborative aims to close the racial homeownership gap through collective action among key industry stakeholders.
Scotiabank hires JPMorgan team to lead new mortgage bizScotiabank is expanding into mortgage capital markets by hiring JPMorgan Chase executives.
Fairway eyes reverse mortgage expansion in 2025Fairway Independent Mortgage Corporation will expand its reverse mortgage focus in 2025, especially through HECM for Purchase.
Better hires Patrick Kandianis as new VP of business developmentBetter has appointed Patrick Kandianis as VP of business development to enhance partnerships and focus on the home equity market.Kandianis brings over 20 years of experience in lending sales, aiming to bridge partnerships and business development at Better.
Luminate Home Loans to close NEO divisionLuminate Home Loans is closing its NEO division to focus on integrating mortgage lending into its banking services.
The 2024 CHLA Report on IMBsThe combination of high mortgage rates and home prices severely affects affordability for homebuyers, necessitating policy advocacy.
Rate's reverse mortgage leader on product specialization and growthRate's reverse mortgage division is experiencing growth under new leadership, driven by strategic insights into the traditional mortgage market.
Jason Cave joins Mr. Cooper team as SVP for Government AffairsCave's extensive banking regulatory experience will drive innovation and transparency in mortgage lending at Mr. Cooper.
Planet Home Lending hires Candice McNaught as retail SVPCandice McNaught joins Planet Home Lending as SVP, enhancing business development and focusing on branch success in the retail mortgage sector.
Guaranteed Rate Affinity appoints new mortgage lending VPMark Rawls appointed as VP of mortgage lending at Guaranteed Rate Affinity, focusing on expanding homebuyer services in North Carolina.
Rate's reverse mortgage leader on product specialization and growthRate's reverse mortgage division is experiencing growth under new leadership, driven by strategic insights into the traditional mortgage market.
Jason Cave joins Mr. Cooper team as SVP for Government AffairsCave's extensive banking regulatory experience will drive innovation and transparency in mortgage lending at Mr. Cooper.
Planet Home Lending hires Candice McNaught as retail SVPCandice McNaught joins Planet Home Lending as SVP, enhancing business development and focusing on branch success in the retail mortgage sector.
Guaranteed Rate Affinity appoints new mortgage lending VPMark Rawls appointed as VP of mortgage lending at Guaranteed Rate Affinity, focusing on expanding homebuyer services in North Carolina.
The Mortgage Firm to invest $1.5M to settle DOJ redlining caseThe Mortgage Firm settles a redlining lawsuit with a $1.5 million investment after alleged discriminatory practices against Black and Hispanic communities.
DOJ Accuses National Mortgage Lender of Redlining in AlabamaOngoing redlining allegations against Fairway Independent Mortgage Corp. spotlight persistent racial discrimination in mortgage lending.Fairway denies allegations while agreeing to settle and support affordable lending initiatives.
Fairway, accused of redlining in Alabama, agrees to settle for $1.9MFairway Independent Mortgage Corp. settles allegations of lending discrimination, agreeing to pay $1.9 million and invest $7 million in majority-Black neighborhoods.
The Mortgage Firm to invest $1.5M to settle DOJ redlining caseThe Mortgage Firm settles a redlining lawsuit with a $1.5 million investment after alleged discriminatory practices against Black and Hispanic communities.
DOJ Accuses National Mortgage Lender of Redlining in AlabamaOngoing redlining allegations against Fairway Independent Mortgage Corp. spotlight persistent racial discrimination in mortgage lending.Fairway denies allegations while agreeing to settle and support affordable lending initiatives.
Fairway, accused of redlining in Alabama, agrees to settle for $1.9MFairway Independent Mortgage Corp. settles allegations of lending discrimination, agreeing to pay $1.9 million and invest $7 million in majority-Black neighborhoods.
CFPB sues Berkshire Hathaway-owned mortgage lender for alleged predatory practicesThe CFPB is suing Vanderbilt Mortgage for predatory practices leading borrowers into unaffordable loans for manufactured homes.
LoanSnap troubles continue as California revokes its lender licenseLoanSnap's mortgage lending license was revoked due to failure to renew a surety bond, highlighting regulatory compliance issues.
CFPB sues Berkshire Hathaway-owned mortgage lender for alleged predatory practicesThe CFPB is suing Vanderbilt Mortgage for predatory practices leading borrowers into unaffordable loans for manufactured homes.
LoanSnap troubles continue as California revokes its lender licenseLoanSnap's mortgage lending license was revoked due to failure to renew a surety bond, highlighting regulatory compliance issues.
Looser lending rules are not driving up house prices, Central Bank saysMortgage lending isn't responsible for the rise in property prices; income growth and supply shortages are to blame.
Planet Financial Group raises $475M in unsecured debt offeringPlanet Financial Group successfully raised $475 million in senior unsecured notes to manage debt despite a decline in mortgage originations.
UWM to issue $500 in unsecured debtUWM Holdings Corp. is raising $500 million in debt through a private offering to refinance existing debt and for corporate purposes.
Planet Financial Group raises $475M in unsecured debt offeringPlanet Financial Group successfully raised $475 million in senior unsecured notes to manage debt despite a decline in mortgage originations.
UWM to issue $500 in unsecured debtUWM Holdings Corp. is raising $500 million in debt through a private offering to refinance existing debt and for corporate purposes.
Central Bank says its mortgage controls are workingLending practices are more cautious, focusing on loan-to-income and loan-to-value limits, with household debt repayment levels stable.
Credit report costs to rise at least 20% in 2025 for mortgage lendersLenders anticipate a significant rise in credit reporting costs driven by FICO's price increase and projected changes from credit bureaus.
Warning over common building material tanking UK home valuesSpray foam insulation is causing significant issues for homeowners, including declining mortgage options and potential decreases in property resale values.
Fed rate cut brings more mortgage biz to JPMorgan, Wells Fargo. But is it sustainable?Mortgage lending increased for JPMorgan and Wells Fargo due to recent rate cuts, but future stability remains uncertain.
Mortgage underwriting algorithm at heart of Wells Fargo's racial disparity lawsuitPlaintiffs claim Enhanced Credit Score discriminated against Black and Latino applicants by sending them to higher-risk classes, leading to higher denial rates.
Wells Fargo extends $5,000 closing cost creditWells Fargo extends $5,000 closing cost program to 16 new metro areas, supporting low- and moderate-income families.
Fed rate cut brings more mortgage biz to JPMorgan, Wells Fargo. But is it sustainable?Mortgage lending increased for JPMorgan and Wells Fargo due to recent rate cuts, but future stability remains uncertain.
Mortgage underwriting algorithm at heart of Wells Fargo's racial disparity lawsuitPlaintiffs claim Enhanced Credit Score discriminated against Black and Latino applicants by sending them to higher-risk classes, leading to higher denial rates.
Wells Fargo extends $5,000 closing cost creditWells Fargo extends $5,000 closing cost program to 16 new metro areas, supporting low- and moderate-income families.
FHA reiterates loss-mitigation options as Helene devastation continuesFHA reinforces loss-mitigation options for mortgage lenders and borrowers in major disaster areas.
UWM scores a win in antitrust lawsuit against Okavage Group - HousingWireUWM won a legal battle regarding its All-In initiative, which restricts brokers from working with other competitors.
California-based Premier Plus Lending adds reverse mortgage divisionPremier Plus Lending is launching a new division focused on reverse mortgages and home equity solutions for seniors.
loanDepot promotes Viviana Abarca to lead mortgage lending operationsViviana Abarca promoted to managing director at loanDepot.
loanDepot hires military advocate Bryan BergjansloanDepot aims to enhance its VA lending capabilities with the hiring of military advocate Bryan Bergjans.
loanDepot promotes Viviana Abarca to lead mortgage lending operationsViviana Abarca promoted to managing director at loanDepot.
loanDepot hires military advocate Bryan BergjansloanDepot aims to enhance its VA lending capabilities with the hiring of military advocate Bryan Bergjans.
UMortgage CEO: "Our veterans deserve better," following the news of recent veteran lending malpracticesVeterans are often exploited by lenders through inflated fees and high interest rates, but alternatives like UMortgage are committed to better practices.
UWM launches BrokerX program to help train new originatorsUWM's BrokerX program aims to train new mortgage originators efficiently and enhance wholesale lending growth.The program offers structured licensing preparation without the need for individual broker training resources.
UK's largest lender to allow first-time buyers to borrow 5.5 times their salaryHouse price growth in the UK has reached its fastest rate since December 2022, with an annual increase of 2.4%.Lloyd's offers a new mortgage scheme for first-time buyers, enabling loans up to 5.5 times income.
Britain's first-time buyer hotspots revealed as Slough sees boostManchester has emerged as Britain's leading hotspot for first-time buyers, driven by affordable housing and economic growth.
UK's largest lender to allow first-time buyers to borrow 5.5 times their salaryHouse price growth in the UK has reached its fastest rate since December 2022, with an annual increase of 2.4%.Lloyd's offers a new mortgage scheme for first-time buyers, enabling loans up to 5.5 times income.
Britain's first-time buyer hotspots revealed as Slough sees boostManchester has emerged as Britain's leading hotspot for first-time buyers, driven by affordable housing and economic growth.
CFPB orders NewDay USA to pay $2.25M for providing misleading costs on 3,000 V.A. cash-out refisNewDay USA misled borrowers about cash-out refinance loans, leading to penalties and consumer backlash.
EPO fees are back. How mortgage lenders can avoid themEPO penalties pose significant financial challenges for mortgage lenders, affecting commissions and profits, especially for smaller companies.
Republic First Bank closes, sells to FultonBankFulton Bank is assuming deposits and assets of Republic First Bank after its collapse due to failure to raise capital and exit from mortgage lending.The FDIC estimates the failure of Republic Bank will cost $667 million, with Fulton Bank acquiring $6 billion in assets, including an investment portfolio and loans.Republic Bank specialized in jumbo mortgage products, but its mortgage production was significantly lower compared to Fulton Bank.
EPO fees are back. How mortgage lenders can avoid themEPO penalties pose significant financial challenges for mortgage lenders, affecting commissions and profits, especially for smaller companies.
Republic First Bank closes, sells to FultonBankFulton Bank is assuming deposits and assets of Republic First Bank after its collapse due to failure to raise capital and exit from mortgage lending.The FDIC estimates the failure of Republic Bank will cost $667 million, with Fulton Bank acquiring $6 billion in assets, including an investment portfolio and loans.Republic Bank specialized in jumbo mortgage products, but its mortgage production was significantly lower compared to Fulton Bank.
Planet Home Lending to acquire retail division of Axia Home LoansPlanet Home Lending is acquiring Axia Home Loans' retail division assets.
Fintech Maxwell launches POS feature that offers tailored workflows for lendersMaxwell's POS feature, Blueprint Builder, offers tailored workflows and over 60 third-party integrations for mortgage lending teams.Lenders can customize workflows and business rules for various mortgage products and channels using Maxwell's Blueprint Builder.
Ascent Developer Solutions launches to serve construction loan needsAscent Developer Solutions launched with Elliott Investment Management equity infusion, focusing on customized financing solutions for developers and investors.
CFPB, FHFA release updated mortgage originations survey dataThe NSMO data provides updated mortgage performance and consumer credit information from 2013 to 2021, highlighting insights into borrower experiences and market perceptions.