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January 2026

Cardinal Financial launches nondelegated correspondent program

Correspondent Lending, HWmember, Lenders, Mortgage, Non-QM, Origination, Technology /

Cardinal Financial‘s third-party origination division announced Wednesday the launch of its nondelegated correspondent program that targets independent mortgage lenders. The program allows approved nondelegated correspondents to originate loans in their own name while using Cardinal Financial’s loan technology platform, Octane, which provides underwriting, pricing and other operational functions. “In a competitive market, lenders need to […]

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Long & Foster taps Lacey Conway as new president

Brokerage, Compass, HomeServices of America, HWmember, People Movers, Real Estate /

Lacey Conway is leaving Compass to serve as the president of Long & Foster Real Estate. HomeServices of America, as announced by the parent company of Long & Foster’s on Wednesday.  In this role Conway will work closely with Patrick Bain, the CEO and president of The Long & Foster Companies, and she will focus

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Federal Reserve keeps benchmark rate unchanged

Donald Trump, Federal Reserve, First American, HWmember, Jerome Powell, LendingLife, loanDepot, Mortgage, Mortgage Rates, Realtor.com, Regulatory /

The Federal Reserve held its benchmark interest rate steady Wednesday in a target range of 3.5% to 3.75%. The decision was widely expected as little has changed since December in the balance of risks tied to its dual mandate of maximum employment and price stability, economists said. “Available indicators suggest that economic activity has been

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Bayview to pay $26 million to settle data breach claims

Cyber security, Law and legal issues, Servicing /

Bayview Asset Management has agreed to a $26 million settlement to resolve data breach claims for a prospective class of around 5.8 million consumers.  Processing Content The sides published the agreement Wednesday in a Florida federal court, and it’s subject to a judge’s approval. The deal would close sprawling class action litigation filed in 2022,

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What the Fed’s first look in 2026 means for mortgages

Capital markets, Economic indicators, Economic news, Mortgage Rates, Politics and policy /

The Federal Open Market Committee’s initial take on the economy in 2026 may temper NMN-surveyed mortgage professionals’ view that rates will fall fast and far enough to generate significant revenue gains this year. Processing Content Monetary policymakers weighed the balance of risks associated with a softer market vs. inflation in their widely anticipated decision to

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Third Point escalates clash with CoStar over Homes.com

Uncategorized /

An investor has re-thrown down the gauntlet, challenging Costar Group management over its residential real estate foray via Homes.com. Processing Content In response, Costar compared Third Point to a disappointed child playing a board game who wants to throw its pieces off of the board. It was last year when alternative asset manager Third Point

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Rocket accused of steering buyers to its mortgage business

Law and legal issues, Regulation and compliance, Rocket Mortgage /

Rocket is being sued for allegedly directing clients to its mortgage business and away from cheaper loan options. Processing Content Three plaintiffs filed the suit Monday in the U.S. District Court for the Eastern District of Michigan. They accused Rocket of exploiting the “vulnerability of homebuyers for profit,” by steering prospective borrowers to use their

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Mortgage rates increase for first time in four weeks

Mortgage applications, Mortgage Rates /

US mortgage rates climbed for the first time in four weeks, halting an early-year upswing in home purchase and refinancing activity. Processing Content The contract rate on a 30-year mortgage rose 8 basis points to 6.24% in the week ended Jan. 23, according to Mortgage Bankers Association data released Wednesday. In the previous week, home-financing

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