Wells Fargo lays off 140 as it backs out of correspondent mortgages

In a Worker Adjustment and Retraining Notification, the company outlined its plans to reduce its workforce size. The company began executing the plan Tuesday in Springfield, Illinois. Continue reading

Real estate agents of TikTok say a big market shift is afoot

All across the country, real estate agents are posting positive signs of change from the trenches and revealing they’re suddenly dealing with packed open houses and intensifying bidding wars. Continue reading

Mortgage rates may ease as modest Fed rate hike could be its last

Fed Chair Jerome Powell is telegraphing one more small adjustment in March, but some bond market investors think the rate hike campaign may now be over. Continue reading

Offerpad buys more time with $90M raise as end of runway approaches

Private placement with existing investors including CEO Brian Bair extends the company’s cash burn runway by six months to a year, KBW analysts say. Continue reading

In a first, Rocket Mortgage powers mortgages for a community bank

Nashville, Tennessee-based Fourth Capital Bank is the first to integrate Rocket’s digital mortgage application using a new platform developed by Q2 Software. Continue reading

How to answer the top 4 questions buyers are asking right now

Your clients will always surprise you with questions that you may not know the answer to, but it is our duty to be educated, knowledgeable, and a source of information and value to our clients.  Continue reading

Want to crush it in real estate in 2023? Get ready to be the educator

Real estate agents should prepare to point consumers toward information that will help them navigate a return to a normal, slower market, Anthony Lammachia said at ICNY on Wednesday. Continue reading

Homebuyer demand for mortgages up for second week in a row

Purchase loan requests rise 3 percent week over week as mortgage rates ease but remain down 39 percent from the same time a year ago. Continue reading

Vishal Garg is back, with plan to save Better: The ‘One Day Mortgage’

Comparing himself to Henry Ford and Elon Musk, CEO says he’s reconfigured Better’s assembly line to crank out mortgages in a single day. Continue reading

Rates may ease, but affordability tools will still be in demand

Zillow and UWM executives are optimistic mortgage rates will come back down but advised real estate agents at Inman Connect New York on Tuesday to get familiar with affordability tools like interest-rate buydowns. Continue reading