Lennar’s management is working through the various challenges facing homebuilders: not just the Iran conflict, but also the antipathy against institution investor purchasers. Processing Content In its first fiscal quarter, which ended on Feb. 28, Lennar earned $229 million, less than half of the $520 million it made for the same period in 2025. The […]
Lennar profit drops 56% amid rates, Iran uncertainty Read More »
The share of primary mortgages on properties that also have second liens is currently in the double digits, reflecting growth in home equity lending that’s increasingly relevant to agency mortgage-backed securities investors. Processing Content Approximately 16% of active first liens are on homes that also have seconds on them, representing a total outstanding balance of
Second liens appear on 16% of U.S. mortgages Read More »
After exiting the channel approximately three-and-a-half years ago during a tough period for both the mortgage industry and its own business, LoanDepot is returning to the wholesale origination business. Processing Content “Serving brokers through wholesale naturally expands our multi-channel origination strategy and complements our direct-to-consumer, in-market retail, joint venture, and servicing businesses,” CEO Anthony Hsieh
LoanDepot adds wholesale production 3 years after exit Read More »
The Mortgage Industry Standards Maintenance Organization has moved a pair of initiatives related to two government-guaranteed mortgage loans programs up to candidate recommendation status. Processing Content First, the data mapping for a key form in the Veterans Affairs loan process has achieved this status, meaning the standard has been thoroughly reviewed by industry participants and
MISMO releases VA, FHA form standards for industry use Read More »
Retail mortgage lender Rate is expanding into auto lending, making car loans available with ongoing upgrades to its mobile app as it looks to offer different types of products. Processing Content Thanks to an agreement with Westlake Financial, Chicago-based Rate will make vehicle lending available directly within its app, allowing for streamlined processing and opportunities
Rate moves into auto lending via app Read More »
Early-year data shows a noticeable slowdown in government-backed reverse mortgage endorsement volume, and the rise of proprietary products may be playing a role. Processing Content Endorsements of Federal Housing Administration-backed Home Equity Conversion Mortgages dropped 20.7% between January and February to 1,821 transactions, according to the latest data from Reverse Market Insight. January’s total had
HECM lenders see subdued numbers to start the year Read More »
Helped by a strong fourth quarter, the six active private mortgage insurers wrote 12% more business in 2025 over the prior year. Between the third and fourth quarter, new insurance written grew by 4%, according to a report from Bose George of Keefe Bruyette & Woods. Typically, the last three months of the year are
MI volumes jump 12%, competitive pressure builds Read More »
Retail giant Rate is embracing cryptocurrency and stablecoins for prospective home buyers, who accumulated wealth in the digital assets. Processing Content The Chicago-based lender is rolling out RateFi, a product allowing buyers to access purchase, refinance, second-home and investment property loans, without liquidating their crypto or stablecoin. The offering is Rate’s first step in a
Rate will consider crypto, stablecoins in underwriting Read More »
A paper from Andrew Davidson & Co. reportedly supports the notion that dropping the tri-merge credit report standard would result in greater risk to mortgage industry participants. Processing Content The paper was brought to media attention by the Consumer Data Industry Association. Others stand by their views that a single pull is sufficient to use
Dropping tri-merge reports hikes mortgage risk, paper claims Read More »
Plummeting mortgage rates during the third quarter last year started a shift in originators’ business mix towards refinance, and this, more than a lessening emphasis on loan manufacture quality, resulted in a huge jump in defect rates, Aces Quality Management said. Processing Content For the last week of June, the 30-year conforming fixed rate mortgage
Refi shift drives latest increase in mortgage defect rates Read More »