Connecticut has entered into a consent decree revoking the fintech mortgage lender’s license, and LoanSnap has been put on notice by California regulators that they intend to do the same. Continue reading
The big drop in mortgage rates did more to spur refinancing than homebuying, according to a weekly survey of lenders by the Mortgage Bankers Association, and now rates are rising again. Continue reading
Two years ago, nine out of 10 mortgages had rates below 5 percent. Today, there are 5.8 million fewer sub-5 percent mortgages in the market and 1 in 4 borrowers has a higher rate. Continue reading
Modest pilot program approved by federal regulators was opposed by banks who have traditionally provided most home equity loans. Nonbank lenders have already made inroads into the business. Continue reading
Bond market investors who fund most mortgages shrugged off hawkish remarks by Federal Reserve Governor Christopher Waller that he wants to see “several more months of good inflation data” before cutting rates. Continue reading
Investors pushed shares in the Dallas-based mortgage loan servicer to a new high on Friday as executives in a Q4 earnings call said they’ll keep investing in technology that boosts efficiency. Continue reading
Recent decline in rates is “some cause for optimism,” but requests for purchase loans are still down 12 percent from a year ago. Continue reading
At $4.55 billion, loanDepot’s Q2 purchase loan originations were up 30 percent from the first quarter, but down 52 percent from a year ago. Continue reading
The Detroit-based mortgage giant returned to profitability during the spring homebuying season by slashing costs and boosting its market share in the face of severe inventory shortages. Continue reading
Thanks to its Home Point Capital acquisition and other pending transactions, the loan servicing giant delivered upbeat Q2 results Wednesday and expects to hit a $1 trillion target by year’s end. Continue reading