Author Archives: Matt Carter

Rising home prices may be crimping demand for purchase mortgages

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Demand for purchase mortgages fell last week to the lowest level since May 2020, which could be a sign first-time homebuyers are getting squeezed out of the market. Continue reading →

Tomo launches with aim to ‘be the best at purchase mortgages’

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The technology-based lender co-founded by former Zillow executive Greg Schwartz is now live in Seattle, Dallas and Houston. The company will refer homebuyers to real estate agents through a partnership with coaching company Tom Ferry. Continue reading →

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 →