Borrowers with limited English proficiency said to be more likely to make it through the complex application process, enabling lenders to close loans faster and boost loan officer production. Continue reading
The rebranding and tighter integration of Truebill into the Rocket platform is part of a broader effort to transform the company’s brands into a fintech platform. Continue reading
Decline in purchase applications aligns with slower homebuilding activity due to reduced buyer traffic and ongoing building material shortages, according to the Mortgage Bankers Association. Continue reading
EXL, Corridor Platforms and Oliver Wyman are teaming up to help smaller lenders build turnkey digital lending programs. Continue reading
30-year loans of up to $5 million provided by Florida-based Milo Credit LLC allow investors to avoid capital gains taxes — and don’t require down payments, credit scores or U.S. citizenship. Continue reading
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