NFM Lending is the first to take advantage of Knock API integrations, which let loan officers know if homebuyers can tap the equity in their existing home and buy before they sell. Continue reading
Card issuer Wells Fargo is losing as much as $10 million a month as it eats interchange fees for users who are paying off balances after paying their rent, “The Wall Street Journal” reports. Continue reading
Key Fed inflation metric expected to drop June 28 following unexpected decline in May wholesale prices and jump in jobless claims to highest level since August 2023. Continue reading
Policymakers now envision making just one rate cut this year, but investors who fund most mortgages are still betting the central bank will change its tune if inflation continues to ease. Continue reading
Rates have returned to last week’s levels, when applications for purchase loans leapt by 9 percent from the week before, and refi applications surged by 28 percent. Continue reading
Pending layoffs of 420 Newrez employees in Colorado and 53 workers in Florida follow $1.4 billion in acquisitions as parent company Rithm seeks to diversify beyond mortgage lending. Continue reading
Cash-offer pioneer Flyhomes says it will partner with agents to expand nationwide after acquiring “conversational real estate search” tech from ZeroDown, hiring co-founders Laks Srini and Abhijeet Dwivedi. Continue reading
Elevated mortgage rates and home prices are creating challenges for many homebuyers, and 86% said May was a bad time to buy — a new high in Fannie Mae surveys dating to 2010. Continue reading
Employers added 272,000 jobs in May, far exceeding the consensus view among economists that payrolls would rise by 180,000 and the average of 232,000 over the past year. Continue reading
In bankruptcy court, the Huntsville, Alabama-based mortgage lender says it plans to repay creditors by claiming more than $20 million in tax credits and clawing back $1 million from warehouse lenders. Continue reading