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
The investment management firm acquired nonbank mortgage lender First Guaranty Mortgage as part of broader strategy to serve lower end of market. Continue reading
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
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
The partnership integrates Indecomm’s automated income calculation technology, IncomeGenius, into the Roostify Beyond platform to analyze income of self-employed borrowers. Continue reading
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
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
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
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 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