What our Peloton obsession has in common with the US housing boom

Like the rise and fall of Peloton, which announced 500 layoffs Thursday, America’s geographic reshuffling has ended with high interest rates further squelching demand, Brad Inman writes. Continue reading

UWM can rapidly scale new loans that lack title insurance

The wholesale lender is hiring and training lawyers to generate attorney opinion letters in-house in order to meet what the company expects to be strong demand. Continue reading

Mortgage applications hit 25-year low as rates, hurricane kill demand

After hitting 2022 highs last week, a weak hiring report released Tuesday has been helping to bring mortgage rates back down. Continue reading

Rocket promotes from within, names new CFO and general counsel

Brian Brown and Tina John are tapped to fill openings created by the retirement of two top executives, Julie Booth and Angelo Vitale. Continue reading

Homebuyers, lenders increasingly wise to flood risk: Zillow

Mortgage applications were more likely to be denied by lenders or withdrawn by homebuyers in census tracts where a higher share of buildings was at risk of future flooding. Continue reading

Credit union invites members to back zero-down mortgages

Blue Federal Credit Union is partnering with real estate agents to find creditworthy borrowers for creative “no-money-down” mortgage program. Continue reading

Mortgage company Cornerstone Home Lending is now a bank

The acquisition and merger with Roscoe State Bank pave the way for the lender to provide new products, services and resources through advanced technologies. Continue reading

UWM now offering mortgages without lender’s title insurance

The nation’s largest wholesale mortgage lender moves to capitalize on rule changes by mortgage giants Fannie Mae and Freddie Mac aimed at helping borrowers save on their closing costs. Continue reading