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Large mortgage lender launches mobile app in Spanish

Large mortgage lender launches mobile app in Spanish

Industry News, Servicing /

Adobe Stock Rate, a large conventional mortgage lender, launched a Spanish language version of its Rate App Thursday to better serve Latino customers.  The release enhances the company’s Language Access Program, as Rate has seen more than 20,000 digital mortgage applications from Spanish-speaking customers since the program started in 2022. The move encourages Spanish-speaking borrowers […]

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CrossCountry to expand asset management arm

CrossCountry to expand asset management arm

Industry News, Servicing /

CrossCountry HoldCo, the parent company of a large retail mortgage company, will expand its asset management arm through partnerships with an Ares Alternative Credit fund and Hildene Capital Management, among others. The asset management unit, CrossCountry Capital, will also expand its non-qualified mortgage investment platform and add complementary asset classes, such as residential transition loans,

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What you missed from day two at Digital Mortgage

Artificial Intelligence, Industry News, Mortgage technology, Originations /

The industry’s top technology minds at the National Mortgage News Digital Mortgage Conference in San Diego Wednesday urged mortgage firms to integrate artificial intelligence into their organizations peacefully, or else.  Whereas top lenders on day one urged firms to maintain a human touch, tech lenders on day two advised competitors to get their entire staff

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Rithm purchasing commercial REIT Paramount Group for $1.6B

Commercial lending, Industry News, M&A /

In its second transaction this month, Rithm Capital took steps to further diversify its business, this time buying office property real estate investment trust Paramount Group for $1.6 billion. It will pay $6.60 for each Paramount share, funding by cash and liquidity from the balance sheets of both companies. The company also spoke of potential

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Mortgage applications soar, led by refinancing spike

Mortgage applications soar, led by refinancing spike

Industry News, Mortgage Rates, Originations /

Adobe Stock Mortgage applications continued to soar last week on the back of the lowest rates in almost a year, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. After application volume dropped in three consecutive weeks, it rose 9.2% on a seasonally adjusted basis the week ending September 5 and jumped another 29.7%

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Inventory, demand continue to improve in housing market

Inventory, demand continue to improve in housing market

Affordable housing, Housing markets, Industry News /

Rows of houses stand in Las Vegas, Nevada, U.S., as seen in this aerial photo taken on Tuesday, Sept. 22, 2009. Photographer: Jacob KeplerJacob Kepler/Bloomberg The housing market is edging toward becoming buyer friendly, as inventory reached multi-year highs and purchase demand remained strong last month, according to HouseCanary’s latest Market Pulse Report. Total for

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Remax, Cenlar, Lower, First American grow leadership teams

Remax, Cenlar, Lower, First American grow leadership teams

CAREER & COMPENSATION, Career advancement, Career moves, Industry News /

Left to right: Mac Cregger, Jay Lapre, Scott Alexander National home lender Assurance Financial elevated Scott Alexander to chief operations officer. After joining Assurance’s over a decade ago, Alexander helped establish the company’s operations division and expand its offerings as he rose through the ranks, most recently serving as chief risk officer. With the promotion,

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Lumber prices swing as tariff fears roil markets

Homebuilders, Industry News, REALTORS & HOMEBUILDERS, Tariffs /

Tariff-influenced lumber price volatility this year has markets trying to read the tea leaves to determine what the implications might be for housing and the economy at large.  Since reaching a three-year high in early August, lumber futures declined by 25% to trade at approximately $525 this week, data from the Chicago Mercantile Exchange showed.

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What lenders want if Trump declares housing emergency

Industry News, Politics and policy, Regulation and compliance /

Housing finance experts have a myriad of ideas for President Donald Trump should he declare a national housing emergency.  Treasury Secretary Scott Bessent hinted at the move in a Labor Day interview with the Washington Examiner, noting that closing costs “are on the table.” While housing regulators have implemented some measures this year to address

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How a trigger leads crackdown could lift retention rates

Industry News, MARKETING TO BORROWERS, Politics and policy, Regulation and compliance /

As the trigger leads bill becomes a reality, lenders are considering whether its impact on the mortgage industry goes beyond simply cutting down consumer calls and texts.  The restrictions regarding credit reports won’t go into effect until six months after Trump’s signature Friday. While the Homebuyers Privacy Protection Act should undercut the leads and messages

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