Author Archives: Matt Carter

Homebuyer education, counseling no panacea for mortgage default

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Women and adults under 30 did see improvements to their credit scores in pioneering a randomized study of 5,854 prospective first-time homebuyers. Continue reading →

More MSU athletes to plug UWM on social media

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The Michigan-based lender’s “name, image and likeness” deal with men’s football and basketball teams has expanded to encompass women’s basketball and volleyball. Continue reading →

Mortgage demand flattens as rates make another run toward 6%

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There’s no sign of a rebound in purchase applications, but August data showing a strong job market “should support housing demand,” an MBA economist says. Continue reading →

Big lenders get a head start, adopt $715,000 conforming loan limit

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Moves by Rocket and United Wholesale Mortgage could help borrowers get better rates and make smaller down payments when taking out loans that were previously classified as jumbo. Continue reading →

United Wholesale Mortgage is gunning for retail rivals’ customers

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United Wholesale Mortgage, the nation’s biggest wholesale mortgage lender, is slashing rates and urging retail loan officers to defect to independent mortgage brokerages. Continue reading →

Mortgage company Homepoint laying off ‘hundreds’ of workers

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The Michigan-based and third-largest wholesale mortgage lender aims to cut costs by more than $100 million a year in response to an “extremely challenging” lending environment. Continue reading →

Newrez returns to playbook, brings back 40-year fixed-rate mortgage

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The nonbank mortgage lender says 40-year, interest-only loans will help borrowers and investors who have been priced out of today’s housing market. Continue reading →

Bank of America’s new ‘solution’ helps minorities own homes

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The new zero down, zero closing cost mortgage Community Affordable Loan Solution is part of a $15 billion commitment to help 60,000 individuals and families purchase homes by 2025. Continue reading →

Cornerstone Home Lending to become a bank

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Approval by bank regulators will allow Cornerstone to “significantly expand” product and service offerings to hundreds of thousands of customers and referral sources nationwide. Continue reading →

Realtor.com’s Move takes a stake in lender matching service Own Up

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The partnership was announced along with a $25 million funding round led by Brand Foundry Ventures, with participation by Move and existing investors Link Ventures and Listen Ventures. Continue reading →