GO Mortgage is the latest mortgage lender to start a wholesale operation, but it is coming at it from a different point of view: The current way this business is done is not just inefficient; the model is broken. Processing Content “We didn’t have the burden of legacy, process, technology and people,” Jay Promisco, the […]
GO Mortgage wants to fix ‘broken’ wholesale business model Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors.Want unlimited access to top ideas and insights? Subscribe Now In January, the Trump Administration released a new executive order seeking to limit the role of large institutional investors in single-family homes and promote greater access to homes for families and local buyers.
The real fix for housing: Reform 1031s and HUD sales Read More »
After recently touting the cost savings it expects artificial intelligence to deliver, mortgage lender Newrez announced the launch of an AI-backed borrower-assistance tool within ChatGPT. Processing Content Dubbed Rezi Mortgage Assistant, the lender’s large language-model guide sits squarely within OpenAI’s generative chatbot platform. Output from the assistant is based on Newrez’s internal underwriting guidelines and
Newrez rolls out AI consumer-facing guide in ChatGPT Read More »
Mortgage activity increased last week, despite rates jumping to their highest point in nearly a month. Processing Content The Mortgage Bankers Association’s Market Composite Index found mortgage applications rose 1.7% on a seasonally-adjusted basis from one week prior for the period ending May 8. The index climbed 2% on an unadjusted basis. This comes after
Buyers shrug off rates, push mortgage apps higher Read More »
The Two Harbors board of directors has rejected the updated hostile bid UWM Holdings made for the company, despite being 50 cents more per share than CrossCountry Mortgage is paying. Processing Content UWM’s latest offer of $12.50 does not constitute a “company superior offer,” the Two Harbors press release said. The rejection notice said the
Two Harbors rejects UWM’s hostile $12.50 offer Read More »
You’ve probably seen the headlines saying, “foreclosures are on the rise,” and maybe your mind jumped straight to 2008. That’s understandable. A lot of people remember that crash and all the foreclosures that happened during that window, and they’re hoping something like that never happens again. But this isn’t a repeat of what happened back
What the Foreclosure Headlines Aren’t Telling You Read More »
Homeownership is one of the most powerful wealth-building tools this country offers, and my path into the mortgage lending industry is an unlikely story that I could not be prouder to tell. In 2006, I was a methamphetamine addict living in an abandoned house, likely due for demolition, in Akron, Ohio. I had burned practically
From addiction to advocacy: How the mortgage industry gave me a second chance Read More »
For generations, homeownership has been one of the primary ways Americans built wealth and passed it on to loved ones. Now, financial advisers and housing experts warn that many older homeowners may be counting too heavily on their homes as retirement safety nets as they discover their properties sell for less than expected, according to
Retirees counting on home equity may face financial shortfalls Read More »
New Rochelle embraced the abundance mindset long before the “yes in my backyard ” crowd made it cool. Today, the city, 25 minutes north of New York City by train, is a reference point for how zoning reform and predictable approvals can speed mixed-income housing production citywide. The city built on a 2015 rezoning that
New Rochelle housing surge proves predictable zoning’s impact Read More »
People can sense when unedited AI is being used as content. Let me show you what I mean. Here’s what happens when someone plugs “write about mortgage marketing trends” into one popular AI tool without a second thought: In today’s rapidly evolving digital landscape, mortgage pros struggle to stand out. Old-school marketing isn’t enough anymore.
Your AI-generated content is showing. (And not in a good way.) Read More »