Author Archives: Matt Carter

Mortgage rates bounce back to July levels on inflation worries

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Another worry for bond market investors is “quantitative tightening,” the Fed’s program to trim its massive holdings of government debt and mortgages. Continue reading →

Flagstar shedding 1,900 workers, but many could land at Mr. Cooper

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A majority of the 1,200 Flagstar employees being let go in $1.4 billion sale of the company’s mortgage servicing business will be offered the opportunity to transfer to Dallas-based Mr. Cooper. Continue reading →

Would-be homebuyers put off by higher mortgage rates

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Demand for purchase mortgages fell by a seasonally adjusted 7 percent last week, and requests to refinance were down 26 percent as mortgage rates continued to climb, MBA survey finds. Continue reading →

Fairway blasts federal regulators in $10M redlining settlement

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Nation’s third biggest lender casts itself as a victim of politics, noting CFPB launched its investigation the day after Biden Administration took office. Continue reading →

Trump, Harris housing policies emerging from the rhetoric

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Housing policy has gotten short shrift in the debates, with a tight focus on immigration and inflation. But the candidates’ platforms — and Project 2025 — provide more details. Continue reading →

PrimeLending just hired a rival’s CEO to be its new head of growth

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Former Benchmark Mortgage CEO Brian McKinney has been charged with driving company growth following the launch of a more inclusive mortgage underwriting process and home equity product. Continue reading →

Floify teams with Argyle for income and employment authentication

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Mortgage tech provider Floify’s partnership allows lenders to perform Freddie Mac- and Fannie Mae-compliant verifications without leaving the Floify platform, executives announced Thursday. Continue reading →

LoanSnap’s business dried up. Now regulators are after its licenses

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Connecticut has entered into a consent decree revoking the fintech mortgage lender’s license, and LoanSnap has been put on notice by California regulators that they intend to do the same. Continue reading →

DOJ’s 14th redlining settlement is its first with a credit union

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Citadel Federal Credit Union “respectfully disagrees” with allegations, agrees to invest $6.5 million and open three new branches in predominantly Black and Hispanic neighborhoods in Philadelphia. Continue reading →