Title insurers wanted to put the brakes on a pilot program that uses automated title reviews to allow some homeowners to refinance their mortgage without having to pay for title insurance. Continue reading
By handling every aspect of homebuying and selling, from search to financing to title and closing — Rocket aims to cut transaction costs on the median priced home in half, from $40,000 to $20,000. Continue reading
With antitrust regulators declining to weigh in, $1.75 billion deal to marry a tech-focused mortgage lender to real estate brokerage could close by the end of the month. Continue reading
CEO Vishal Garg is optimistic about the future after cutting annual net loss by 61 percent, to $206 million, and growing loan production by 19 percent and revenue by 50 percent. Continue reading
Dallas-based loan servicer is using AI to collect monthly mortgage payments from 6.7 million homeowners, a business that generated $393 million in pretax income during the fourth quarter. Continue reading
Purchase loan applications are up 9 percent from a year ago, as inventories of new and existing homes increase and lower mortgage rates help with affordability: MBA. Continue reading
If mortgage rates fall by another percentage point, ICE Mortgage sees homebuyers’ monthly payment dropping by $236 and nearly 7.2 million homeowners “in the money” for a refinance. Continue reading
Falling mortgage rates have more homeowners interested in refinancing, but homebuyers are largely staying on the sidelines. Rates may now be poised for a bigger drop. Continue reading
The big drop in mortgage rates did more to spur refinancing than homebuying, according to a weekly survey of lenders by the Mortgage Bankers Association, and now rates are rising again. Continue reading
Lending industry leaders surveyed by Fannie Mae see the lack of housing supply as the biggest risk factor in 2024, but most expect refinancing to pick up next year if rates continue to fall. Continue reading