While the publicly traded title underwriters across the board reported improved third quarter results on a year-over-year comparison, helped by September’s refinance activity that several mortgage lenders referred to in their results. The biggest news from the sector came after the quarter ended, with three of the companies announcing merger and acquisition deals. Fidelity […]
Refis drive better 3Q for major title insurers Read More »
By Oct. 1, the first day of the federal government shutdown, mortgage subservicer Loancare was already fielding calls from borrowers asking what it meant for them and whether forbearance or other relief options were available. Consumers may have been more optimistic then. By Nov. 7, the shutdown had entered Day 38, concern was growing. How
How some mortgage servicers have handled shutdown fallout Read More »
National direct-to-consumer lender Sage Home Loans is entering into a partnership with leading retail securities trading fintech Robinhood to provide discounted mortgage options to the latter platform’s select users. Through an exclusive agreement, Robinhood’s gold-tier subscribers will be able to apply for mortgage loans through the digital platform’s app or website and take advantage of
Robinhood, Sage Home Loans enter lending partnership Read More »
If federal regulators were to reduce or do away with loan level pricing adjustments at the government-sponsored enterprises, the effect on borrowers would be modest, but it would reduce earnings at Fannie Mae and Freddie Mac, a Keefe, Bruyette & Woods analysis found. Lower return on equity could put a crimp in privatization plans as
KBW says loan level pricing cuts could hurt GSE earnings Read More »
A 5 basis point drop in conforming mortgage rates boosted loan refinance application volume this week, but overall activity was down from seven days’ prior, the Mortgage Bankers Association said. Its Market Composite Index found application activity inched 0.3% lower on a seasonally adjusted basis from seven days prior and fell 0.2% on an unadjusted
Purchase apps languish even though mortgage rates decline Read More »
Seniors’ home equity holdings set a record in the second quarter as property values continue to increase, albeit at a slower pace than earlier this year. However, given the ongoing government shutdown, endorsements of Home Equity Conversion Mortgages, the Federal Housing Administration product which makes up the bulk of reverse mortgage lending, are on hold.
Senior home equity holdings rise to record level Read More »
Better Home & Finance is rolling out a new wholesale operation where it’ll offer home equity line-of-credit and closed-end second liens. The lender is touting a wide credit matrix, fast originations and options including 12 and 24 month bank statement approval options for small business owners. The largely direct-to-consumer shop, with an emerging retail arm,
Better launches HELOC, CES wholesale channel 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 »
Applications for new-home purchase mortgages ran ahead of last year’s pace in September, but various factors have the leading industry trade group preparing for a near-term slowdown. Purchase applications for new single-family properties increased 2% on a year-over-year basis last month, picking up some momentum after August’s flatter 1% rise, according to the Mortgage Bankers
New-home loan growth slows as builders anticipate a slowdown Read More »