After unloading $218 million in unrated residential transaction loans in June, CEO Michael Bourque said markets for such deals “are certainly tough right now.” Continue reading
Rising interest rates and a shrinking branch network are cutting into Wells Fargo’s mortgage business, and bank executives say they’re fine with that. Continue reading
Homeowners in 18 states and Washington, D.C. can tap up to $500,000 in home equity by selling a share of their future home price appreciation to investors. Continue reading
Windsor-based mortgage broker Edison Financial will rebrand as Rocket Mortgage in August and begin making direct loans. Continue reading
Purchase loan applications continue to be weaker “due to the combination of much higher mortgage rates and the worsening economic outlook,” said MBA forecaster Joel Kan. Continue reading
With a new office in Alaska and an expanded presence in South Carolina, Motto Franchising has signed seven new franchisees in 2022. Continue reading
Lender hopes to cut up to $400 million in annual expenses and become profitable by the end of 2022 after rising mortgage rates gut profitable refinancing business. Continue reading
Austin, Texas-based mortgage platform UpEquity has more avenues to partner with real estate brokerages as it looks to expand its footprint to 23 states by the end of the year. Continue reading
Rising rates took their toll not only on refinancing but on homebuyer demand for purchase loans in June, according to an analysis of rate lock data released Monday by Black Knight. Continue reading
Fannie Mae finds 81 percent of Americans think the economy is on the wrong track, but the share of consumers who think it’s a good time to buy ticked up in June. Continue reading