CEO Jay Bray says the loan servicing giant intends to “hit the ground running” when it merges with Rocket Companies later this year after turning a $198 million Q2 profit. Continue reading
Like Leticia James, Sen. Adam Schiff denies lying on mortgage applications and decries “baseless attempt at political retribution” that won’t stop him from holding Trump accountable. Continue reading
Like Leticia James, Sen. Adam Schiff denies lying on mortgage applications and decries “baseless attempt at political retribution” that won’t stop him from holding Trump accountable. Continue reading
Requests to refinance are up 40 percent from a year ago, but uncertainty “continues to hold homebuyers out of the market,” Mortage Bankers Association economist Joel Kan said Wednesday. Continue reading
While purchase loan demand was still up 18 percent last week from a year ago, some of that demand may not translate into sales, with Redfin reporting an unusual bump in cancelled purchase contracts. Continue reading
Although Rocket’s plans to acquire Mr. Cooper and Redfin are structured as all-stock deals, assuming their debts will leave Rocket more highly leveraged, Fitch analysts said of possible debt rating downgrade. Continue reading
Executives put a positive spin on prospects for growth, with loan origination volume up 17 percent from a year ago to $32.4 billion and revenue up 5 percent to $613.4 million. Continue reading
Slowing economy could also help bring mortgage rates down to Earth more rapidly, with the latest forecast predicting rates will drop to 6.2 percent by the end of this year and to 6 percent next year. Continue reading
Purchase loan requests are up 7 percent from a year ago, as loosening housing inventory and a pullback in mortgage rates presents FHA buyers with more opportunities. Continue reading
While mortgage originations were up 34 percent from a year ago, to $7.2 billion, company executives said they don’t expect lending to surpass $5.5 billion in Q1 2025. Continue reading