Author Archives: Matt Carter

Fairway Independent Mortgage buys itself a new Midwest division

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Fort Wayne, Indiana-based Hallmark Home Mortgage is licensed in 18 states. Company founder and CEO Deborah Sturges is joining Fairway as a division manager. Continue reading →

CFPB enforcement chief resigns, saying mission ‘under attack’

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The Trump administration is seeking to cut 90 percent of the CFPB’s workforce, and has dismissesd about 20 active enforcement cases and moved to vacate or weaken several finalized settlements. Continue reading →

Covius inks agreement to acquire Blend’s Title365 business

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Colorado-based Covius will continue to provide integrated title and closing services to Blend’s customers, and Title365 President Kirby Hulbert will join Covius’s settlement services team. Continue reading →

Consumer sentiment about housing market rebounds

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While just 26 percent of Americans said May was a good time to buy, that’s up from 23 percent in April and 14 percent a year ago, an all-time low in Fannie Mae survey. Continue reading →

Job market is cooling, but not fast enough to alarm Fed policymakers

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An estimated 7.24 million Americans were unemployed in May, as hiring by private employers slowed and the federal government continued to shrink its payroll. Continue reading →

Senate Dems ask Pulte to put Fannie, Freddie revamp on hold

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Lawmakers want assurances that privatizing the mortgage giants or taking them public won’t drive mortgage rates up, and put investor profits “over the homes of millions of Americans.” Continue reading →

Dip in mortgage rates doesn’t do much to excite homebuyers

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While purchase loan demand was still up 18 percent last week from a year ago, some of that demand may not translate into sales, with Redfin reporting an unusual bump in cancelled purchase contracts. Continue reading →

Wells Fargo free to grow again after Fed lifts $1.95T asset cap

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Lifting of the asset cap could give the bank greater leeway to originate jumbo mortgages that exceed Fannie Mae and Freddie Mac’s $806,500 conforming loan limit in most markets. Continue reading →

Redfin shareholders approve Rocket merger at special meeting

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With antitrust regulators declining to weigh in, $1.75 billion deal to marry a tech-focused mortgage lender to real estate brokerage could close by the end of the month. Continue reading →

Rocket will pay off $4B in Mr. Cooper debt after acquisition

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Although Rocket’s plans to acquire Mr. Cooper and Redfin are structured as all-stock deals, assuming their debts will leave Rocket more highly leveraged, Fitch analysts said of possible debt rating downgrade. Continue reading →