Author Archives: Matt Carter

Fathom Realty still adding agents after raising transaction fees

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In reporting a $9.9 million fourth-quarter loss, Fathom executives said they see a path to profitability without saying exactly when that might happen. Continue reading →

Fed Chair Jerome Powell signals latest rate hike could be the last

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Mortgage rates expected to ease even as Fed vows to continue “quantitative tightening” that’s trimming mortgage holdings by $35 billion a month. Continue reading →

Homebuyer demand up 3rd week in a row as mortgage rates ease

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The unusually wide “spread” between 10-year Treasury yields and 30-year fixed-rate mortgages means mortgage rates could have more room to come down. Continue reading →

Software vendors gear up to support appraisal-free mortgages

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Starting April 15, Fannie Mae says more homebuyers will qualify for a program requiring full interior and exterior inspections that capture data and images throughout the property. Continue reading →

Guild’s McGarry will hand CEO reins to Terry Schmidt, her 1st hire

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Terry Schmidt was Mary Ann McGarry’s first hire at Guild in 1985, and the two led a 2007 management buyout of the company from founder Martin Gleich. Continue reading →

Flagstar Bank takes over Signature Bank’s retail branches

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The $2.7 billion deal does not include about $4 billion in crypto-related deposits held by the former Signature Bank’s digital-assets banking business, according to the Federal Deposit Insurance Corp. Continue reading →

New mortgage fee won’t debut until after spring homebuying season

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Industry groups continue to object to a new Fannie and Freddie fee aimed at some riskier borrowers as a burden on lenders and consumers. Continue reading →

Even after layoffs, 3 in 4 mortgage lenders lost money in Q4 2022

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Lenders lost $2,812 per loan as business dropped off faster than they could trim expenses and production costs hit a record-high $12,450 per loan, a Mortgage Bankers Association survey found. Continue reading →

Real Matters hires new chief financial officer as revenue dwindles

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Executives with the Canadian real estate tech company said its U.S. expansion plan and ambitious goals to grow its appraisal and title insurance market share are still in place. Continue reading →

As losses mount, Blend looks beyond mortgage for future growth

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The San Francisco-based cloud banking software provider has trimmed the company’s payroll by 1,100 employees and cut annual expenses by $72 million. Continue reading →