Author Archives: Matt Carter

Homebuyers are beginning to seek smaller mortgages as rates rise

By Matt Carter | June 29, 2022 - 11:00 am |June 29, 2022 Uncategorized

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As demand picks up for government loans favored by entry-level buyers, the average purchase mortgage request has shrunk by 10 percent, to $413,500. Continue reading →

Mortgage Coach and Sales Boomerang merge under new CEO

By Matt Carter | June 28, 2022 - 5:59 pm |June 28, 2022 Uncategorized

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Richard Harris, a veteran of SparkPost, Oracle and AddThis, will lead the merged company, which said it will employ 144 people with no layoffs anticipated. Continue reading →

First Guaranty Mortgage cuts 76% of workforce, leaving partners in lurch

By Matt Carter | June 27, 2022 - 10:44 pm |June 27, 2022 Uncategorized

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Non-QM lender lender lays off three-fourths of workforce, saying it’s experienced “significant operating losses and cash flow challenges” and has been unable to obtain funding. Continue reading →

Orchard lays off nearly 100 employees — but is still hiring

By Matt Carter | June 23, 2022 - 10:54 pm |June 23, 2022 Uncategorized

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Power Buyer confirms that it intends to fill about 50 job openings in its mortgage, real estate brokerage, marketing and finance departments. Continue reading →

Tomo’s new Lock and Shop: lock a rate now without a property address

By Matt Carter | June 23, 2022 - 7:27 pm |June 23, 2022 Uncategorized

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Tomo’s Lock and Shop service fee is $750, which homebuyers can recoup when they work with Tomo Brokerage partner agents. Homebuyers can choose either a 90- or 120-day rate lock. Continue reading →

Proptech investor Paul Hurst sees a ton of opportunity in market shift

By Matt Carter | June 23, 2022 - 4:17 pm |June 23, 2022 Uncategorized

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The problems that proptechs are trying to solve — inefficiencies in real estate transactions — remain, said Parker89 Managing Director Paul Hurst, while speaking at Connect Now. Continue reading →

Demand rebounds as mortgage rates retreat from 2022 peak

By Matt Carter | June 22, 2022 - 6:27 pm |June 22, 2022 Uncategorized

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Purchase mortgage applications are still down 10% from a year ago, with mortgage rates nearly doubling in the last 12 months, according to a survey by the Mortgage Bankers Association. Continue reading →

Hippo’s mortgage partner channel takes off; helps find coverage faster

By Matt Carter | June 22, 2022 - 1:00 pm |June 22, 2022 Uncategorized

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Program piloted last year now provides services to more than a dozen mortgage lenders and loan servicers, who help 7 million people finance or refinance their homes each year. Continue reading →

Knock CEO: Sellers will need Power Buyers even more as market shifts

By Matt Carter | June 22, 2022 - 9:00 am |June 22, 2022 Uncategorized

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If rising home prices and mortgage rates create a buyer’s market, sellers will need Power Buyers even more, says Knock CEO Sean Black. Continue reading →

Notarize lays off 110 employees, cites Sequoia’s warning to startups

By Matt Carter | June 21, 2022 - 6:53 pm |June 21, 2022 Uncategorized

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Having “created a category” — remote online notarization — CEO Pat Kinsel says the company must evolve to survive a potential downturn. Continue reading →