Author Archives: Matt Carter

Lenders granted some leeway to initiate foreclosures

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Mortgage lenders will soon be able to initiate foreclosure proceedings against homeowners who are 120 days behind on their mortgage payments. Continue reading →

Lenders who rely on AI, algorithms could face new legal risks

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In a move that could pose challenges for lenders that employ AI and algorithms to evaluate borrowers, federal housing officials are moving moving to rescind policies to protect lenders and other businesses from claims of inadvertent discrimination. Continue reading →

New leadership expected at Fannie and Freddie’s federal regulator

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Fannie Mae and Freddie Mac’s federal regulator will soon have a new director, after a Supreme Court ruling that expands the president’s power to remove the head of the Federal Federal Housing Finance Agency without cause. Continue reading →

Home finance startup Lower lands $100M in Series A funding

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Lower will use the funds to expand its product line and accelerate its growth. The company’s website currently lists more than two dozen employment opportunities. Continue reading →

Purchase loan demand up again, bucking increase in mortgage rates

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Demand for purchase loans was up for the third week in a row last week, even as mortgage rates surged to the highest level in a month, according to a weekly survey by the Mortgage Bankers Association. Continue reading →

Paying rent with a credit card touted as ‘path to homeownership’

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Kairos, the company behind the Bilt Mastercard, says it’s partnering with landlords to help provide “every young person a path to homeownership” by allowing them pay their monthly rent with the card, and apply the points they earn to a down payment on … Continue reading →

‘Homebodies’ hampering housing market potential by not selling

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“Homebodies” — homeowners who don’t want to give up their rock-bottom mortgage rates and seniors choosing to age in place — are keeping home sales from reaching their full potential, according to an analysis by First American Financial Corp. Continue reading →

With foreclosures on horizon, RES.NET revamps REO portal

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With a potential surge in home foreclosures on the horizon, RES.NET, a technology platform provider for loan default management, says it’s revamped its real-estate owned portal to support growth and scalability. Continue reading →