Through Better’s Equity Unlocker program, borrowers pay a higher interest rate and Better can seize pledged shares if homeowners default or try to sell their stock before paying off their mortgages. Continue reading
New API integration allows lenders to generate tailored marketing materials that include rate, monthly payment and APR based on unique borrower details. Continue reading
The Federal Trade Commission is not convinced that Black Knight’s plans to spin off its Empower loan origination system allays antitrust concerns, “Politico” reports. Continue reading
By one measure, the mortgage giants have built up two-thirds of the reserves needed for them to be released from government conservatorship. Continue reading
The bank says it has racked up $353 million in severance expenses as it closes branches and pursues a “more focused home lending business.” Continue reading
Cuts are expected to save borrowers $678 million a year but don’t apply to existing loans or release homeowners who have built up equity from “life-of-loan” requirements. Continue reading
Offerpad sold more than 10,000 homes last year for the first time in company history, but posted a record $121.1 million fourth-quarter loss, according to an earnings call for the iBuyer on Wednesday. Continue reading
The deal is touted as a way to give mortgage lenders critical information about borrowers and properties at the beginning of the loan process. Continue reading
An MBA survey shows demand for purchase loans is down 18 percent week over week and 41 percent from a year ago as mortgage rates rise for the second week in a row. Continue reading
Economic downturn could put a damper on a promising start to the spring homebuying season, but set the stage for mortgage rates to ease and for home sales to rebound in 2024. Continue reading