Author Archives: Matt Carter

Ribbon suspends cash offer service, working on new tools for spring

By | | Uncategorized
Comments Off on Ribbon suspends cash offer service, working on new tools for spring

The New York-based power buyer had been purchasing homes on behalf of RibbonCash clients who were unable to close a deal with their own financing. Continue reading →

Blend announces more layoffs as cumulative losses surpass $1B

By | | Uncategorized
Comments Off on Blend announces more layoffs as cumulative losses surpass $1B

The mortgage tech and title provider posted a $132.7 million net loss in the third quarter of 2022, with revenue falling 38 percent from a year ago to $55.3 million, according to an earnings call Thursday. Continue reading →

Survey: Mortgage lenders missing chance to build trust with borrowers

By | | Uncategorized
Comments Off on Survey: Mortgage lenders missing chance to build trust with borrowers

J.D. Power warns that the mortgage customer experience is increasingly commoditized, with few lenders finding the right formula to be seen as trusted advisers. Continue reading →

Black Knight signs another credit union as Empower client

By | | Uncategorized
Comments Off on Black Knight signs another credit union as Empower client

San Diego-based BluPeak is the ninth credit union Black Knight has signed to use its mortgage loan origination system in the last 12 months. Continue reading →

Demand for purchase loans up slightly for first time in 7 weeks

By | | Uncategorized
Comments Off on Demand for purchase loans up slightly for first time in 7 weeks

Purchase loan applications rose 1 percent last week despite latest Fed rate hike, but homebuyer demand for mortgages remained close to 2015 lows, according to the Mortgage Bankers Association. Continue reading →

After cutting Q3 losses, loanDepot has sights set on breaking even

By | | Uncategorized
Comments Off on After cutting Q3 losses, loanDepot has sights set on breaking even

The troubled lender has shed 5,200 workers through layoffs and attrition and is instituting other cost-cutting measures aimed at trimming $400 million in annual expenses by the end of the year. Continue reading →

Mortgage giants Fannie and Freddie battened down the hatches in Q3

By | | Uncategorized
Comments Off on Mortgage giants Fannie and Freddie battened down the hatches in Q3

Fannie and Freddie remain profitable but are setting aside pots of money to cover future losses that could result from falling home prices. Continue reading →

Fathom raises transaction fees, boosts incentives amid Q3 loss

By | | Uncategorized
Comments Off on Fathom raises transaction fees, boosts incentives amid Q3 loss

The real estate brokerage and tech platform is accelerating cost-cutting after posting a $6 million, third-quarter loss, with revenue up 10.2 percent to $111.3 million and agent count up 33 percent, to 9,991. Continue reading →

Homebuyer sentiment falls for the 8th month in a row to all-time low

By | | Uncategorized
Comments Off on Homebuyer sentiment falls for the 8th month in a row to all-time low

Only 16 percent of those surveyed by Fannie Mae in October said it was a good time to buy a home, and the percentage who said it’s a good time to sell also fell, according to new data released Monday. Continue reading →