Even amid high rates, buyers have more options than they realize

Loan officers and assistance programs are just 2 ways to close the knowledge gap, Zillow Senior Economist Orphe Divounguy and Rocket President Tim Birkmeier said Wednesday at Connect. Continue reading

UWM posts $229M Q2 profit as spring mortgage originations soar

United Wholesale Mortgage, the nation’s largest lender, also raised refinancing volume by 23 percent after being hammered by higher interest rates, according to Q2 earnings released Wednesday. Continue reading

Rocket back in the black after boosting purchase market share

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

Rocket taps veteran fintech exec Varun Krishna as next CEO

Changing of the guard demonstrates mortgage is just one component of a larger fintech strategy, with former Intuit, PayPal exec set to succeed interim CEO Bill Emerson on Sept. 5. Continue reading

Will the second quarter of 2023 match real estate’s Q1 meltdown?

Major real estate companies began reporting Q2 earnings this week against a backdrop of high rates, low inventory and a sluggish economy. Analysts shared what they’re watching with Intel. Continue reading

US Bank, UWM join movement to boost minority lending

With Fannie and Freddie leading the charge, a growing number of lenders are using special purpose credit programs to boost homeownership in underserved communities. Continue reading

Lone Star lawmakers pass ‘largest property tax cut in Texas history’

The deal raises the amount homeowners can exempt from the taxable value of their properties from $40,000 to $100,000, ensuring Texas will remain among the fastest growing states in the U.S. Continue reading

Newzip helps mortgage lenders connect borrowers to agents

Former Keller Williams Realty exec’s startup enables virtually any mortgage lender to emulate programs offered by bigger rivals, such as Rocket Mortgage, loanDepot and Better. Continue reading

The Texas plan that could win even more new homeowners

High property taxes in Texas have in the past canceled out some of the state’s affordability advantages. But political leaders are looking for ways to reduce homeowners’ tax burden. Continue reading

Rocket’s new 1% down mortgage also picks up tab for PMI

Lender estimates a hypothetical buyer putting down $2,500 on a $250,000 home could save $20,500 in private mortgage insurance payments over 7 years. Continue reading