Author Archives: Matt Carter

Hometown Lenders’ national expansion collided with rising rates

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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 →

Mortgage rates retreat as wave of data suggests economy is cooling

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In less than a week, a series of reports has changed the outlook for the timing and magnitude of future Fed rate cuts, sending mortgage rates into a five-day tailspin. Continue reading →

UWM’s 0-down loans a hit with buyers, worry consumer advocates

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Unlike subprime loans that were subjected to minimal underwriting standards in the runup to the housing crash and 2007-09 Great Recession, UWM’s zero-down loans have to meet criteria set by mortgage giant Freddie Mac. Continue reading →

Rates ease as inflation gauge moves in the right direction

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Mortgage rates have some room to come back down in June after PCE price index shows annual inflation easing to 2.65 percent in April, and Q1 2024 GDP growth revised downward to 1.3 percent. Continue reading →

Bank launches Spanish website in wake of redlining settlement

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Washington Trust “vehemently” denied the allegations leveled by the Justice Department last fall, but agreed to invest and spend at least $9 million to improve access to mortgage credit in minority neighborhoods in Rhode Island. Continue reading →

Mortgage rates are bouncing back, and homebuyers don’t like it

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As rates on conventional mortgages head back above 7 percent, homebuyer demand for purchase loans is wilting, with applications dropping for a third week in a row last week, according to an MBA survey. Continue reading →

Rocket Homes tech chief unpacks ‘Explore Spaces’ visual search tool

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Rocket Homes Chief Technology Officer John Fair told Inman the tool has already resulted in users spending nearly twice as long on the lender’s website and returning six times more frequently. Continue reading →

Xome’s DIY platform lets investors sell homes without an agent

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Homeowners can’t sell a primary residence through Xome’s seller portal without a listing agent, but can hire an agent on their own or ask Xome to match them with one. Continue reading →

Mortgage rates staying below 2024 highs, but buyers indifferent

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Bond market investors who fund most mortgages shrugged off hawkish remarks by Federal Reserve Governor Christopher Waller that he wants to see “several more months of good inflation data” before cutting rates. Continue reading →