Tag Archives: Rocket Mortgage

Automating verifications lets loanDepot OK loans in minutes

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After months of beta testing, the melloNow underwriting engine can analyze credit reports, detect fraud, and validate income and employment data without human assistance. Continue reading →

First-timers ‘significantly’ less satisfied with mortgage lenders

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Homebuyers don’t just want good rates, they want lenders to solve problems that will keep them from getting to the closing table, J.D. Power finds. Continue reading →

WSJ eyes Mat Ishbia’s quest to be ‘king of mortgages and basketball’

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“The Wall Street Journal” alleges UWM CEO and Phoenix Suns owner is “charting a risky path in both business and sports,” but the Ishbia family is raking in hundreds of millions of dollars in profit even when the company is losing money. Continue reading →

Tough times for mortgage lenders? UWM hired 1,000 employees in Q3

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While others are downsizing, the nation’s biggest mortgage lender is investing in new technology and hiring new team members to be prepared if mortgage rates come down and business booms. Continue reading →

Rocket stays profitable in Q3 but still in the red for the year

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Cost-cutting helped the mortgage lending giant rack up its second consecutive profitable quarter, but at $61.45 billion, mortgage originations for the year to date are down 46 percent from a year ago. Continue reading →

Rocket subsidiary Lendesk launches mortgage AI assistant

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Lender Spotlight AI Assistant sifts through the finer points of more than 7,000 mortgage options to help brokers identify the right product and answer clients’ questions. Continue reading →

More lenders raise their conforming loan limit to $750K

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Following Rocket’s lead, UWM and Guaranteed Rate say they’ll price mortgages of up to $750,000 as if they’re eligible for purchase by Fannie Mae and Freddie Mac in anticipation of expected 2024 increases. Continue reading →

Rocket Mortgage now pricing loans of up to $750,000 as conforming

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The move could help qualifying borrowers avoid taking out a jumbo mortgage at a higher rate as Rocket gets a jump on an expected increase in Fannie Mae and Freddie Mac’s 2024 loan limits. Continue reading →

Newzip signs third mortgage lender to its agent-matching service

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State Employees Credit Union of Maryland is the third lender to sign with Newzip, which helps lenders court homebuyers by offering them discounts when they agree to work with preferred real estate agents. Continue reading →

Zillow is the latest lender to offer a 1% down purchase mortgage

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UWM and Rocket Mortgage are also leveraging Fannie Mae and Freddie Mac programs tailored to borrowers earning less than 80 percent of the area median income. Continue reading →