Limited economic data has economists expecting the Federal Reserve to maintain its rate-cutting posture, but other factors might be having a greater effect on mortgage lending, with the 30-year fixed rate mortgage interest rate average now at a 2025 low. Even with the relatively flat movement of yields, which often sway the direction of mortgage […]
Mortgage rates fall to lowest mark in over a year Read More »
Mortgage technology dollars are flowing away from the consumer. While industry investment has historically flowed into front-facing aspects, home loan players have shifted spending to back-office efficiencies in recent years, multiple experts said Wednesday at the Mortgage Bankers Association Annual conference in Las Vegas. “What we’re seeing now is more investments on planning, risk, (quality
Lenders move tech dollars to the back office Read More »
Pennymac’s financial services unit built profits as it produced consistent consecutive-quarter loan volume and reduced servicing valuation-related losses in a market with lower rates, but it fell short of some consensus expectations. The $181.5 million in net income recorded under generally-accepted accounting principles topped the previous quarter’s $136.5 million and $69.4 million a year earlier,
Pennymac financial services unit improves profitability Read More »
Residential mortgage and services provider Rate is rolling out the welcome mat for mortgage industry veteran Jason Stenger, appointing him to chief production officer. Stenger moves over to Chicago-based Rate from Movement Mortgage, where he most recently held the title of chief operations officer, a role he served in for over three years. Lyra Waggoner
Rate welcomes Jason Stenger to executive leadership Read More »
PHH Mortgage officially rolled out a new lending product suite this week as it looks to tap into growing mortgage industry demand for non-agency offerings. The proprietary non-qualified mortgage products, collectively known as FlexIQ, will be available through PHH’s correspondent lending channel for both delegated and non-delegated loans. The lender is a subsidiary of West
PHH Mortgage introduces new non-QM product suite Read More »
Nexa Lending welcomed mortgage industry veteran Tammy Richards as chief strategy officer, one of a series of recent moves introduced by the company as it also undergoes a rebranding initiative. As chief strategy officer, Richards will help lead market development and expansion for the Mesa, Arizona-based lender, which recently changed its name from Nexa Mortgage.
Nexa Lending adds Tammy Richards to executive team Read More »
In this week’s banking news roundup: Flagstar’s shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more.
Flagstar’s shareholders approve plan to dissolve holding company Read More »
Several developments involving companies active in the industry’s secondary and capital market emerged this week. AI-driven pricing data provider buys MBS specialist Solve, a provider of pre-trade data and predictive pricing that has long used artificial intelligence to aggregate and analyze information, announced Thursday that it has purchased a company with similar but deeper capabilities
Tech developments in the mortgage capital markets heat up Read More »
Fathom Holdings is deepening its Western presence and doubling down on first-time homebuyers with its acquisition of Colorado-based START Real Estate. The deal adds 70 agents and a first-time buyer program that recently entered Utah, bolstering Fathom’s network following its purchases of Arizona’s My Home Group and Texas-based Elite Financing Group. “START Real Estate’s growth
Fathom expands in West with START Real Estate deal Read More »
Amidst a credit score war, Experian has thrown the latest punch. The data and technology company will now offer VantageScore 4.0, a credit scoring model, for free to its mortgage clients in the United States. “Experian is dedicated to fostering a more competitive mortgage landscape, creating a safer and sounder market, and expanding access to
Experian to offer VantageScore 4.0 for free Read More »