U.S. homeowners are sitting on more than $11 trillion in tappable home equity, and the mortgage industry is racing to capture it. Processing Content With interest rates providing little incentive for many homeowners to refinance or relocate, lenders and technology firms are pouring resources into home equity lines of credit, a product long dominated by […]
SoFi enters HELOC market amid home equity surge Read More »
Federal regulators announced today that they are taking steps to spur competition and legislatively mandated modernization in credit scoring. Processing Content Freddie Mac has already tested $10 million in loan sales involving use of VantageScore 4.0 and Fannie Mae also now is offering to buy loans on this basis, according to Bill Pulte, head of
Fannie, Freddie, FHA to accept VantageScore immediately Read More »
Mortgage banking units operated by major U.S. homebuilders saw their pre-tax income slide for the period ended March 31, reflecting the significant year-over-year declines in net income for the period ended March 31 was reported at a quartet of U.S. homebuilders. Processing Content Some analysts are even warning of a lost earnings season for the
D.R. Horton, NVR, Taylor Morrison, M/I Homes earnings recap for mortgage lenders Read More »
Toll Brothers, one of the largest homebuilders in the United States, is acquiring a private homebuilder based in Fayetteville, Arkansas. Processing Content Headquartered in Fort Washington, Pennsylvania, Toll Brothers’ purchase of Buffington Homes of Arkansas will expand its national footprint with a strong presence in northwest Arkansas, the company said in a press release Tuesday.
Toll Brothers acquires private Arkansas homebuilder Read More »
Processing Content Key insight: Treasury Secretary Scott Bessent backed the president’s call in his 2027 budget for a 60% reduction to the Community Development Financial Institution Fund, arguing it had a “partisan agenda.” Supporting data: The president’s budget cut more than $204.5 million from the fund’s budget for fiscal year 2027. Expert quote: “They’re sustaining
Bessent says CDFI Fund ‘had lost its way’ Read More »
Minneapolis-based global investment firm Castlelake LP has expanded an existing business relationship with Resfin Partners, adding dominant ownership of the company to its U.S. residential financing resources. Processing Content The purchase of a majority stake gives Castlelake more access to two Miami-based business units Resfin serves as a holding company for: Eastview, a domestic correspondent
Castlelake buys majority stake in Resfin Partners Read More »
Key insight: The CFPB claims that the Equal Credit Opportunity Act does not include statutory language that would allow for a so-called “disparate impact” test for instances of unintended discrimination. What’s at stake: The changes don’t let lenders off the hook entirely. States such as California, Massachusetts and New Jersey maintain strict anti-discrimination rules, creating
CFPB finalizes new ECOA rule in major fair lending pivot Read More »
Did you try to buy a home last year, but you ended up pressing pause? Maybe you couldn’t find a home that really fit your needs. Or maybe the ones you liked just weren’t affordable. According to a recent survey from NerdWallet, those were the top two reasons buyers gave up on their search in
More Options Are Popping Up This Spring Read More »
Planet Home Lending is the latest mortgage company to rebrand, simplifying its identity to just one word, and coming out with a new logo. Processing Content The new visual image resembles two nearly completed half-circles, with a horizontal line bisecting them. This logo shows its unified capabilities across its four business lines: origination, servicing, sub-servicing,
Planet is the latest mortgage lender to embark on a rebrand Read More »
US mortgage applications for home purchases increased last week by the most since early January as financing costs continued to ease, a tentative sign that the housing market is grinding forward. Processing Content The Mortgage Bankers Association’s index of home-purchase applications rose 10.1% in the week ended April 17, data from the group showed Wednesday.
Home-purchase applications jump as rates settle back Read More »