Tag Archives: mortgage

Demand for purchase mortgages climbs for 3rd week in a row

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Purchase mortgage applications surge by 8 percent as homebuyers seeking to take advantage of the recent decline in rates get an early jump on the spring homebuying season. Continue reading →

Patriot Bank denies DoJ redlining allegations, settles for $1.9M

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Government alleges competitors in Patriot’s peer group made home loans in minority areas of Memphis at almost three times the rate of Patriot from 2015 to at least 2020. Continue reading →

Falling mortgage rates should boost home sales: Fannie Mae

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Fannie Mae economists no longer expect a recession and are considerably more optimistic that mortgage rates have additional room to come down below 6 percent. Continue reading →

Purchase loan applications soar 9% following drop in mortgage rates

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Trend could bode well for the spring homebuying season, the Mortgage Bankers Association said Wednesday, but Fed may take its time before cutting rates. Continue reading →

David Stevens, influential leader in mortgage finance, dies at 66

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The former FHA commissioner also held executive positions at World Savings Bank, Freddie Mac, and The Long and Foster Companies before leading the Mortgage Bankers Association. Continue reading →

AI mortgage tech provider Gateless beefs up integrations

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New integrations with The Work Number and Informative Research are aimed at helping lenders speed underwriting approvals and reduce human error. Continue reading →

Navy Federal faces lawsuits over discriminatory lending allegations

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Lawmakers are demanding a federal investigation in the wake of a CNN analysis that concluded the nation’s largest credit union denied more than 50 percent of Black mortgage applicants in 2022. Continue reading →

Jump in key inflation gauge may delay mortgage rate relief

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Futures markets still hold out hope for a March rate cut, even as annual inflation increased to 3.4 percent in December, moving away from the Fed’s 2 percent goal for the first time since September. Continue reading →