Author Archives: Matt Carter

NAR: New Fannie and Freddie mortgage fees will hit middle class

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Mortgage giants’ federal regulator eliminates upfront fees for first-time homebuyers of limited means, but some better-off borrowers will see increases. Continue reading →

Layoffs hit rent-to-own company Home Partners of America

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Layoffs come a week after the shutdown of RealSure, Home Partners’ iBuyer joint venture with real estate franchising giant Anywhere, and include Pathlight Property Management. Continue reading →

How Offerpad execs plan to pivot from seller’s to buyer’s market

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Executives at the iBuying pioneer see tremendous opportunity if they can negotiate today’s challenging “in-between” phase where buyers and sellers are on the fence. Continue reading →

Homebuyer loan requests jump 25% as mortgage rates continue to fall

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After two months of declines, mortgage rates are now at their lowest level since September with potential to spur spring homebuying, according to MBA economist Mike Fratantoni. Continue reading →

Lower signs Opendoor as first mortgage platform customer

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Lower’s “mortgage as a service” platform lets brands offer digital-first mortgages through application programming interface and no-code solutions. Continue reading →

City National Bank to pay at least $31M to settle redlining charges

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The biggest redlining settlement in DOJ history is the fifth enforcement action since the launch of the initiative to combat redlining in 2021, with $75 million in relief to date. City National denied that it engaged in redlining. Continue reading →

Refis ramp up as rates fall to 6.28% — but homebuyers stay on the fence

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Requests to refinance accounted for 31 percent of all loan applications last week, well below the past decade’s average of 58 percent. Continue reading →

Wells Fargo exiting correspondent mortgage lending business

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Executives hope to reduce risk by reducing the size and narrowing the focus of bank’s mortgage business to better serve retail customers and minority communities. Continue reading →

Blend cuts nearly 30% of workforce in blistering 4th round of layoffs

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Blend also announced the resignations of President Timothy Mayopoulos, Head of Finance Marc Greenberg and Head of Legal Crystal Summer amid a round of cuts impacting about 340 workers. Continue reading →