While the fourth quarter’s mortgage fraud risk rate fell 55 basis points from the prior three months, loans submitted during the period had a record average issues per transaction, the Fundingshield Wire Fraud Risk Report found. Processing Content The last three months of 2025 was a period where a near 9% increase in volume from […]
Record defects plague mortgage closings as fraud risk dips Read More »
Key Insight: Bank of America’s earnings narrowly surpassed Wall Street’s expectations in the fourth quarter of 2025. Supporting Data: BofA’s earnings per share reached $0.98 in last year’s final quarter, edging past analysts’ estimates of $0.96, according to S&P. Expert Quote: “While any number of risks continue, we are bullish on the U.S. economy in
Bank of America inches past estimates, buoyed by net interest income Read More »
A title industry startup aiming to cut closing time and costs for homebuyers via blockchain technology finds itself on the receiving end of a new venture capital raise to support its expansion. Processing Content Titl, a Miami-based fintech, announced a seed funding round of $2.5 million, which was led by Cofounders Capital and FIT Ventures.
Titl raises $2.5M to modernize title with AI, blockchain Read More »
According to our chart of MND’s mortgage rate index, 30yr fixed rates bottomed at 6.01% yesterday, but that’s because the chart logs the day’s latest entry. On Friday, until late in the day, the chart showed a rate of 5.99%. It was only after several lenders raised rates in the afternoon that the index moved
Mortgage Rates Now Solidly Back Above 6% Read More »
Mortgage rate-lock activity ended the year on a strong note in spite of seasonal trends, new industry data found. Processing Content Optimal Blue’s latest Market Advantage report showed total lock volume increased 2% from November and finished 30% higher than last December. The boost was driven primarily by rate-and-term refinances, which rose 13% on a
Lock activity increases in December, defying seasonal trends Read More »
Long-time Redfin CEO Glenn Kelman is leaving the firm, he announced in a LinkedIn post Tuesday afternoon. Processing Content “After 20 years, I’m leaving Redfin,” he wrote. “I gave it my all! Leaving was my decision. I love my colleagues. We saved consumers a billion dollars in commissions. I hope to use all that I
Redfin CEO Glenn Kelman steps down after 20 years Read More »
Mortgage originations for JPMorgan Chase were “modestly” over what analysts expected, but even with the increase in the retail channel share, gain on sale was down. Processing Content This is an early downbeat sign for the independent mortgage banking community, a report from Keefe, Bruyette & Woods indicates. Chase is the first large bank to
JPM’s 4Q gain-on-sale drop off a negative sign for IMBs Read More »
Citigroup Inc. is set to cut about 1,000 jobs this week as part of Chief Executive Jane Fraser’s march to keep a lid on costs and improve returns at the Wall Street bank. Processing Content The company, which had 227,000 employees at the end of September, is culling its ranks as part of a plan
Citi to cut about 1,000 jobs this week as Fraser trims costs Read More »
(Bloomberg) — President Donald Trump said he would announce his nomination to replace Federal Reserve Chair Jerome Powell within “the next few weeks” despite the backlash over a Justice Department probe into the remodeling of the central bank’s headquarters that has threatened his ability to secure a confirmation. Processing Content Trump was asked about his
Trump says furor over Powell probe won’t delay Fed pick Read More »
A new racketeering lawsuit claims two Hallmark Home Mortgage employees aided a homebuilder in a construction Ponzi scheme that affected hundreds of customers. Processing Content Florida resident Reynel Suarez named the lender and its parent, Fairway Home Mortgage, among a dozen defendants in his class action late last month. The plaintiff says Hallmark disbursed millions
Hallmark Home Mortgage accused in Ponzi scheme lawsuit Read More »