Blend posted a $9.4 million loss in the first quarter as the slow pace of home sales pulled revenue from its mortgage software suite down 22 percent from Q4. Its consumer banking suite brought in $9.6 million. Continue reading
Shares in the cloud banking solutions developer are down 14% after the company says the mortgage technology business it acquired for nearly $1 billion in 2022 has been a drag on growth but is expected to pick up. Continue reading
Lenders lost $2,812 per loan as business dropped off faster than they could trim expenses and production costs hit a record-high $12,450 per loan, a Mortgage Bankers Association survey found. Continue reading
The overall decline of mortgage loans in forbearance was led by Ginnie Mae loans, which dropped by 7 basis points from the previous week to 7.28 percent of loans in forbearance. Continue reading