US consumer confidence fell in September to a five-month low on growing concerns about job prospects and the broader economy. The Conference Board’s gauge of confidence decreased 3.6 points to 94.2, data released Tuesday showed. The median estimate in a Bloomberg survey of economists called for a reading of 96. READ MORE: Mortgages with rates […]
Consumer confidence falls to five-month low on job concerns Read More »
Analysts at Morgan Stanley have downgraded UWM Holdings, the parent of United Wholesale Mortgage, citing valuation risk, given the 55% increase in its stock price since the end of July through today. But at various points between those two milestones, the gain in UWM on a percentage basis was even higher. On July 31, UWM’s
UWM downgraded by Morgan Stanley on stock valuation risk Read More »
Long-time mortgage industry executive Jerry Halbrook has been named president and chief operating officer of insuretech Covered Insurance. Halbrook’s hiring is the latest sign of the convergence between the lending process and insurance, the company said. Jerry Halbrook is president and COO of Covered Insurance Property insurance costs have increased in recent years, and in
Former Black Knight exec Halbrook joins Covered Insurance Read More »
Two more lenders have joined the parade of early conforming loan limit boosters, Crosscountry Mortgage and Rate. They join United Wholesale Mortgage and Pennymac in being willing to underwrite loans up to $819,000 for future sale to Fannie Mae and Freddie Mac. Of the major lenders who have done so in the past, only Rocket
Rate, Crosscountry latest to boost conforming limits early Read More »
Mortgage rates increased this week as investors digested all the commentary from the September Federal Open Market Committee meeting. The yield on the 10-year Treasury, one of the benchmarks used in pricing mortgages, was at 4.19%, after closing Wednesday at 4.15% and at 4.1% on Sept. 18, the day after the FOMC meeting. On Sept.
Mortgage rates rise after FOMC’s decision Read More »
Left to right: Julian Hebron, Jonathan Kunkle, John Wines, Will Adams Artificial intelligence and borrower retention took center stage as 20 tech firms competed for top honors in the Innovation Challenge at Digital Mortgage 2025. New homeownership portals, voice agents and lead generation tools all may find their way onto mortgage technology stacks if they
Innovation Challenge 2025 spotlights AI, retention tools Read More »
Those who expected lower mortgage rates in the immediate aftermath of yesterday’s Federal Open Market Committee actions are likely disappointed with the early market response. The 10-year Treasury yield rose to 4.13% at 11 a.m. Thursday, up 5 basis points from its close at 4.08% at 3 p.m. on Wednesday, an hour after the Fed
Mortgage rates lower but full impact of FOMC not felt yet Read More »
United Wholesale Mortgage is the first major lender this year to raise its conforming loan limits in advance of the formal announcement in November by the Federal Housing Finance Agency. Even though UWM will start obtaining loans with these higher limits from mortgage brokers immediately, it will need to keep the mortgages on its balance
UWM first to raise its conforming limits for 2026 Read More »
Union Home Mortgage reached an agreement to acquire the assets of Sierra Pacific Mortgage, National Mortgage News has confirmed. Terms of the transaction were not available. The Strongsville, Ohio company headed by past Mortgage Bankers Association Chairman Bill Cosgrove has completed a number of acquisitions in recent years. “We are excited to work with such
Union Home Mortgage to acquire Sierra Pacific assets Read More »
Mortgage rates fell by a whopping 15 basis points this week, to their lowest point in almost a year, as Fed watchers are now certain a short-term rate cut is in the offing, Freddie Mac reported. The 30-year fixed rate mortgage was at 6.35% on Sept. 11, down from 6.5% one week ago, the Freddie
Mortgage rates drop further as the odds of a Fed cut rises Read More »