Tag Archives: purchase loans

Back as CEO, loanDepot founder has his work cut out for him

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Anthony Hsieh brings back two technology executives after loanDepot, which hasn’t turned a full-year profit since 2021, posts $25 million Q2 loss. Continue reading →

Defying conventional wisdom, UWM grows mortgage refis

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While rival Rocket Mortgage seeks to boost refis by becoming largest U.S. loan servicer, UWM CEO Mat Ishbia says AI, competitive pricing will help mortgage brokers compete for borrowers. Continue reading →

Homebuyers still have jitters about the economy and job market

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Mortgage rates have stabilized and more inventory is coming online, but applications for purchase loans fell by a seasonally adjusted 6 percent last week compared to the week before. Continue reading →

Rocket to inherit Mr. Cooper’s customer satisfaction woes

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Both companies have invested heavily in AI. But while Rocket consistently earns high marks for loan servicing, Mr. Cooper’s J.D. Power rankings have been subpar for more than a decade. Continue reading →

Mortgage rate woes undercut June new home sales

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Despite ample inventory and more affordable prices, seasonally adjusted new residential sales dropped 6.6 percent annually. Experts attributed the drop to mortgage rates as the primary cause. Continue reading →

Higher rates aren’t stopping homebuyers from bargain hunting

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Purchase loan requests are up 3 percent from a week ago and 22 percent from last year even as mortgage rates climb to highest level in four weeks, Mortgage Bankers Association survey shows. Continue reading →

Fairway Independent Mortgage buys itself a new Midwest division

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Fort Wayne, Indiana-based Hallmark Home Mortgage is licensed in 18 states. Company founder and CEO Deborah Sturges is joining Fairway as a division manager. Continue reading →

Homebuyers out in force for a 2nd week as mortgage rates stabilize

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With more homes to choose from, purchase loan applications were up 18 percent from a year ago last week as buyers forged ahead despite economic uncertainty. Continue reading →

Move-up homebuyers drive surge in mortgage loan applications

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Purchase loan demand was up 11 percent last week, with “surprisingly strong” demand from conventional loan borrowers given lingering economic uncertainty, MBA economist Mike Fratantoni says. Continue reading →

Homebuyer demand falls for 2nd consecutive week as rates climb

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Economic uncertainty, rate volatility and mounting worries about the labor market are reducing the pool of potential buyers, putting a damper on the spring homebuying season. Continue reading →