Author Archives: Matt Carter

Ribbon back in expansion mode with push into Illinois and Michigan

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Less than two months after layoffs, the power buyer says it’s still on track to meet a goal of being operational in 25 states by the end of the year. Continue reading →

Congress closer to prodding VA to update appraisal requirements

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The Department of Veterans Affairs allows desktop appraisals when borrowers put 20 percent down, but nearly 90 percent of VA-backed loans are made to homebuyers who put nothing down. Continue reading →

Real estate trade groups prod Biden to cut annual FHA premiums

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The NAR, MBA and NAHB argue that the Federal Housing Administration is flush with cash, and that delinquency rates on FHA loans have returned to pre-pandemic lows. Continue reading →

Credit unions, banks flock to Black Knight’s Empower mortgage LOS

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IThink Financial, the eighth credit union to sign up for Empower since December, will use the mortgage loan origination system to provide home loans to more than 100,000 members. Continue reading →

Homebuyer education, counseling no panacea for mortgage default

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Women and adults under 30 did see improvements to their credit scores in pioneering a randomized study of 5,854 prospective first-time homebuyers. Continue reading →

More MSU athletes to plug UWM on social media

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The Michigan-based lender’s “name, image and likeness” deal with men’s football and basketball teams has expanded to encompass women’s basketball and volleyball. Continue reading →

Mortgage demand flattens as rates make another run toward 6%

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There’s no sign of a rebound in purchase applications, but August data showing a strong job market “should support housing demand,” an MBA economist says. Continue reading →

Big lenders get a head start, adopt $715,000 conforming loan limit

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Moves by Rocket and United Wholesale Mortgage could help borrowers get better rates and make smaller down payments when taking out loans that were previously classified as jumbo. Continue reading →

United Wholesale Mortgage is gunning for retail rivals’ customers

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United Wholesale Mortgage, the nation’s biggest wholesale mortgage lender, is slashing rates and urging retail loan officers to defect to independent mortgage brokerages. Continue reading →