Author Archives: Matt Carter

Better shares plunge more than 90% in Nasdaq debut

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In addition to going public at a bad time for mortgage lenders, Barron’s reports that a SPAC merger resulted in a huge increase in the number of shares outstanding. Continue reading →

Forecasters see home sales bottoming out this year, and then?

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MBA forecasters expect rates to ease and sales to rise next year, but Fannie Mae economists predict home sales will remain subdued even if the Fed pulls off a soft landing. Continue reading →

Homebuyer mortgage demand falls to lowest level since 1995

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As mortgage rates hit new post-pandemic highs on inflation worries, an MBA survey finds applications for purchase loans fell for the sixth consecutive week last week and are down 30 percent from a year ago. Continue reading →

After setbacks, Better goes public with plan to scale ‘greater heights’

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Following six merger adjustments over two years, Better will go public Thursday with $565 million in new funding and plans to “aggressively” partner with agents as it builds its mortgage production team. Continue reading →

Viant Eye says Trufile plug-in enables all-digital mortgage

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Viant Eye’s says rollout of its MISMO-compliant plug-in means SMART Docs “aren’t just for eNotes” but documents across the whole loan lifecycle from origination to recording. Continue reading →

Freedom Mortgage to pay $1.75M to settle agent kickback scheme

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Regulators claim lenders’ marketing agreements with more than 40 real estate brokerages, including Realty Connect USA, were a conduit for kickbacks that generated more than 1,000 mortgage referrals. Continue reading →

Mortgage rate surpasses 7% in new 2023 high as demand falls again

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Even after adjusting for seasonal factors, applications for purchase loans fell for the fifth-straight week as mixed inflation data raised doubts that Fed will ease, pushing mortgage rates to new highs. Continue reading →

Rating agencies issue more cautions about banking industry

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It’s not just regional banks but larger lenders, such as JPMorgan and Bank of America facing uncertainty if interest rates stay higher for longer, analysts said. Continue reading →

Mortgage assistance for Hawaii fire victims includes forbearance help

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Fannie Mae, Freddie Mac and the Federal Housing Administration outlined relief for homeowners as FEMA and the state of Hawaii rushed to provide emergency housing for displaced residents. Continue reading →

Blend Labs laying off 150 more workers on ‘path to profitability’

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The mortgage technology, title provider and cloud-based banking platform has eliminated more than 1,000 positions in five rounds of layoffs in the last 16 months. Continue reading →