Author Archives: Matt Carter

Regulators are tracking complaints about ‘deficient’ financial chatbots

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The Consumer Financial Protection Bureau warns of reputational and legal risks of relying on “deficient chatbots” as the primary mode of interacting with customers. Continue reading →

LoanDepot hires new CFO and parts ways with 4 top managers

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CEO Frank Martell recruits former CoreLogic colleague David Hayes as losses pile up and mortgage originations hit another new low. Continue reading →

Quality control standards for AVMs may cover discrimination

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Proposed standards would include random sample testing and reviews to ensure a “high level of confidence” in the estimates produced by AVMs. Continue reading →

Mortgage rates ease on debt deal, but jobs report fuels inflation fears

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Friday’s strong jobs report renews worries that the Federal Reserve is not done hiking rates to combat inflation as policymakers face June 14 decision to “hike, skip or pause.” Continue reading →

Co-founder of UK’s LendInvest launches new US venture

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Christian Faes’ Los Angeles-based Faes & Co. will back tech-enabled direct lenders that cater to U.S. residential real estate investors including F2 Finance. Continue reading →

‘Inflation is still running too high’: Homebuyers stunned by rate surge

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Requests for purchase loans were down last week by 31 percent from a year ago as rates rose to new 2023 highs and homes remained scarce in many markets, according to the MBA’s Weekly Mortgage Applications Survey. Continue reading →

Mortgage rates hit new 2023 high on debt ceiling, inflation worries

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For investors who provide the funding for most U.S. mortgages, the debt ceiling crisis won’t be over until Congress actually votes to approve the deal negotiated over the weekend. Continue reading →

Private mortgage insurers have friends in high places

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House lawmakers ask SEC not to hinder a system that private mortgage insurers have used to transfer nearly $68 billion in risk since 2015. Continue reading →

Mortgage rate gap among lenders wider than previously understood

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A homebuyer taking out a $300,000 loan could end up overpaying by $1,200 a year — and even more if they’re in the market for a jumbo, FHA or VA mortgage, according to a new CFPB analysis. Continue reading →