Better CEO Vishal Garg has apologized to the mortgage company’s staff, saying he failed to show adequate respect for the 900 former employees who were let go last week. Continue reading
Redwood Trust, which issues jumbo loans that are off limits to Fannie and Freddie, says costlier markets are better served by private lenders. Continue reading
No new LIBOR loans will be allowed after this year, but there’s also the matter of what to do with roughly $1.4 trillion in existing loans tied to LIBOR. Continue reading
Since going public in a December 2020 merger with a special purpose acquisition company, Porch has continued to grow through acquisitions. Continue reading
The online mortgage company is facing scrutiny from former employees and on social media, where a video of CEO Vishal Garg firing employees over Zoom drew thousands of reactions. Continue reading
Company says it will be better positioned for growth as lenders shift their focus from refinancing mortgages to providing purchase loans. Continue reading
The average rate for a 30-year mortgage has been climbing in recent months and now rests 17 percent higher than its all-time low in January, according to Freddie Mac’s latest lender survey. Continue reading
Applications to refinance fell 41 percent from a year ago as rates increased for the third week in a row, according to The Mortgage Bankers Association’s Weekly Mortgage Applications Survey. Continue reading
Speaking before the Senate Banking Committee Federal Reserve Chair Jerome Powell said the recent rise in COVID-19 cases and the emergence of the Omicron variant does pose “downside risks to employment and economic activity and increased uncertainty for… Continue reading
Rapid home price appreciation during the pandemic means loan limits for Fannie Mae and Freddie Mac will make a record-breaking leap in 2022, fueling a debate over whether that’s ultimately in the best interests of would-be homebuyers struggling to find… Continue reading