Mortgage rates nosedive in fallout from Silicon Valley Bank failure

Bank failures and a slowdown in wage growth have forecasters thinking the Fed will back off from an aggressive rate hike campaign next week. Continue reading

Antitrust regulators move to block ICE’s $11.7B Black Knight acquisition

The Federal Trade Commission alleges the deal would put an end to intense competition between the companies and drive up costs for lenders and homebuyers. Continue reading

Monthly homebuyer payments just hit all-time high as spring arrives

The typical monthly payment rose to $2,563 this week despite home prices that were down 1 percent, according to data on Friday. That’s the highest monthly payment on record, up 29 percent from last year. Continue reading

LoanDepot founder Anthony Hsieh determined to shake up board

After being ousted as executive chair, Hsieh says he controls enough voting shares to install veteran real estate executive Steve Ozonian on the mortgage lender’s board of directors. Continue reading

Appraiser ordered to watch exposé on Black homeowners she lowballed

Paul Austin and wife Tenisha Tate-Austin sued appraiser Janette Miller in 2021 after a lowball quote prompted the couple to pose a white friend as the homeowner for a second appraisal. Continue reading

LoanDepot losses mount as company continues to shed workers

The beleaguered mortgage lender racks up a $610.4 million 2022 net loss despite cutting 6,100 jobs as rising mortgage rates cut into the company’s lucrative refinancing business. Continue reading

Mortgage rates headed past 7% after Powell warns Congress on inflation

Futures markets are taking the Fed chair at his word that policymakers may have to hike rates faster and take them higher to combat inflation Continue reading

Federal consumer watchdog flags mortgage servicers’ junk fees

The CFPB alleges mortgage servicers charged excessive late fees, assessed “fake” private mortgage insurance premiums and made homeowners pay for unnecessary inspections. Continue reading

After 3 months of improvement, homebuyer sentiment declines

Fannie Mae’s National Housing Survey shows Americans are feeling less secure about keeping their jobs, and nearly 8 in 10 think it’s a bad time to buy a home. Continue reading

Guaranteed Rate rolls out ‘Same Day Mortgage’ nationwide

Properties must be eligible for an appraisal waiver, and like Better’s “One Day Mortgage,” some fine print can stand in the way of getting a loan approved in 24 hours. Continue reading