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Industry News

Realpha grows mortgage footprint through Instamortgage

Industry News, M&A, MARKETING TO BORROWERS, Mortgage technology, Originations, Technology /

Digital real estate platform Realpha will acquire Instamortgage, adding the direct lender to its growing home finance network and furthering goals to build a one-stop artificial intelligence-backed homebuying experience.  Processing Content The move by the Dublin, Ohio-based technology firm, which has origins as a home purchase and sales platform, expands the company into lending after […]

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Delinquencies jump to 4-year high

Foreclosures, Housing markets, Industry News, Servicing /

Mortgage delinquency rates rose sharply last month, hitting a four-year high, but those numbers are still in line with historical trends, according to the latest ICE Mortgage Technology First Look report. Processing Content The number of mortgages past due rose by 275,000 to 2.3 million from October to November, bumping up the national delinquency rate

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Judge dismisses disclosure class action against UWM

Industry News, Law and legal issues, Lawsuits, UWM /

A California judge granted United Wholesale Mortgage‘s motion to dismiss a class action by borrowers over allegedly disclosing personal and financial information to third parties, like Meta and Google. Processing Content The plaintiffs, Ethan Allison and Mark Caloca, filed the initial complaint in June, but the judge ultimately agreed Sunday with UWM, who said the

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Warren probes whether banks sold forgiven ‘zombie’ seconds

Debt collection, Distressed, Foreclosures, Industry News, Law and legal issues, Politics and policy, Servicing /

A key Senate leader is requesting records surrounding the cancellation of second mortgages following the Great Financial Crisis and asking whether the loans were sold to collections agencies in violation of a major legal settlement.  Processing Content In a request sent to the independent monitor responsible for oversight of the 2012 National Mortgage Settlement, Sen.

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Mortgage brokers optimistic about housing market in 2026

Home Prices, Housing markets, Industry News, Originations /

Mortgage brokers are optimistic about the year ahead, with many anticipating more business. Processing Content AD Mortgage’s Mortgage Professionals Pulse Report and 2026 Outlook found 57.6% of the more than 300 brokers surveyed said they felt motivated heading into the new year and 84.5% said they expect business to grow in 2026. “Partner feedback confirms

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New York becomes latest state to outlaw NTRAPs

Industry News, Law and legal issues, Regulation and compliance, State regulators, Title insurance /

New York became the latest state to officially enact legislation that outlaws the practice known as Non-Title Recorded Agreements for Personal Services or NTRAPS, which threatens senior citizens with loss of their homes.  Processing Content Gov. Kathie Hochul signed the bill into law after it passed the New York State Legislature with wide bipartisan support

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MBA presses FHFA to drop tri-merge credit report rule

Credit reporting, Industry News, Mortgage Bankers Association, Originations /

The Mortgage Bankers Association is standing firm on its initiatives to help lenders find credit-report cost relief with its latest call to eliminate the tri-merge purchase requirement for a segment of borrowers.  Processing Content In a letter addressed to Federal Housing Finance Agency Director Bill Pulte in mid December, MBA requested that the regulator, which

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Vacation homes and seasonal properties drive up rural prices

Housing markets, Industry News, Originations /

Rural markets across the board saw a significant spike in property values during the pandemic housing boom, but some communities benefited more thanks to their locations and the rise of remote work.  Processing Content Between March 2020 and March 2023, home prices appreciated 36.1% in rural areas, more than doubling their rate of growth in

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Finance of America secures major Blue Owl investment

Home equity loans, Industry News, Originations /

Finance of America, a provider of home equity-based financing solutions for retirement, looks to expand its client base and grow originations, securing its second partnership in the last two months. Processing Content The lender and funds managed by Blue Owl Capital, a New York-based alternative asset manager, enhanced their previous partnership with a $2.5 billion

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Democratic AGs hire former CFPB Director Chopra

CFPB News & Analysis, Consumer banking, Industry News, Wealth management /

In this week’s banking news roundup: Rohit Chopra is named senior advisor to the Democratic Attorneys General Association’s working group on consumer protection and affordability; Flagstar Bank’s private-banking division adds two additional wealth-planning capabilities; Chime promotes three members of its executive leadership team; and more.

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