Author Archives: Matt Carter

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 →

Defy Mortgage launches as new player in non-QM lending

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Nashville, Tennessee-based lender to serve entrepreneurs and gig workers nationwide is accepting alternative forms of income and assets including cryptocurrency. Continue reading →

Cordless Media ads on MLSs will provide real-time mortgage rates

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Ad marketplace is the first to implement Optimal Blue’s new lead-quoting application programming interface, allowing ads to display rates from multiple lenders. Continue reading →

Homebuyer sentiment ticks up again on signs of market top

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More consumers are coming around to economists’ views that home prices and mortgage rates probably peaked last year, according to a monthly survey by Fannie Mae. Continue reading →

DFCU Financial to offer mortgages to buyers on Florida’s Gulf Coast

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The Michigan-based credit union expands into Florida by closing a merger with Tampa-based First Citrus Bank. Full product and service integration is expected by mid-2023. Continue reading →