Author Archives: Matt Carter

Sprout Mortgage is 2nd non-QM lender to implode in as many weeks

By Matt Carter | July 7, 2022 - 9:59 pm |July 7, 2022 Uncategorized

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Failures raise questions about the viability of a small but growing corner of the mortgage business that largely serves self-employed borrowers. Continue reading →

Homebuyers can start loan apps with Google or Facebook credentials

By Matt Carter | July 7, 2022 - 1:08 pm |July 7, 2022 Uncategorized

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Floify claims it’s the first first major mortgage point-of-sale software provider to offer Single Sign-On (SSO) capabilities. Continue reading →

Mortgage rates easing on recession fears, but homebuyers not biting

By Matt Carter | July 6, 2022 - 7:28 pm |July 6, 2022 Uncategorized

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Although fears of a recession are bringing mortgage rates down, would-be homebuyers aren’t rushing to apply for loans, according to a weekly survey of lenders. Continue reading →

Home price appreciation slowing at rate not seen since 2006

By Matt Carter | July 6, 2022 - 5:48 pm |July 6, 2022 Uncategorized

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Although inventory shortages are starting to ease, falling sales are driving the trend as homes are less affordable then they’ve been since the mid-1980s Continue reading →

CoreVest gearing up to make more bridge loans to flippers

By Matt Carter | July 5, 2022 - 9:25 pm |July 5, 2022 Uncategorized

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Parent company Redwood Trust closes deal to acquire Portland, Oregon-based bridge loan provider Riverbend Funding LLC. Continue reading →

AnnieMac expands mid-Atlantic presence, acquires OVM Financial

By Matt Carter | July 1, 2022 - 7:39 pm |July 1, 2022 Uncategorized

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Rising mortgage rates are prompting some lenders to downsize to adapt to changing market conditions. But the market shift is also expected to drive mergers and acquisitions. Continue reading →

PIMCO saw a bright future for now-bankrupt mortgage lender FGMC

By Matt Carter | July 1, 2022 - 6:16 pm |July 1, 2022 Uncategorized

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The investment management firm acquired nonbank mortgage lender First Guaranty Mortgage as part of broader strategy to serve lower end of market. Continue reading →

First Guaranty Mortgage files for bankruptcy protection from creditors

By Matt Carter | June 30, 2022 - 4:43 pm |June 30, 2022 Uncategorized

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Chapter 11 filing will allow the non-QM lender leeway to submit a plan of reorganization to keep its business alive and pay creditors over time. Continue reading →

Property marketplace Sundae cuts 15% of its workforce

By Matt Carter | June 29, 2022 - 7:47 pm |June 29, 2022 Uncategorized

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Sundae, which lets homesellers sell their properties as-is to investors without hiring an agent, said layoffs were targeted to its newest markets. Continue reading →

Roostify, Indecomm aim to expedite gig worker’s mortgage applications

By Matt Carter | June 29, 2022 - 1:53 pm |June 29, 2022 Uncategorized

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The partnership integrates Indecomm’s automated income calculation technology, IncomeGenius, into the Roostify Beyond platform to analyze income of self-employed borrowers. Continue reading →