New insurance written at the nation’s six active private mortgage insurers continued to run ahead of last year’s pace during the third quarter, with the market share gap widening between the top and bottom. For the quarter, the MIs wrote $84.3 billion of new policies, compared with $81.2 billion three months prior and $82.5 billion […]
Mortgage insurers have strong 3Q for new policies written Read More »
UWM Holdings had its strongest production quarter since the pandemic-fueled 2021, beating its own guidance, taking advantage of a brief window where rates fell in September. “Although I don’t know if you guys recognize it, but it was a dominant, dominant quarter,” Mat Ishbia, chairman, CEO and president said on the earnings call. The company
UWM posts best production quarter in four years Read More »
In the time since Vic Lombardo became president of mortgage services at Remax Holdings over two months ago, the company has “taken a new view of the mortgage opportunity,” Eric Carlson, CEO, said in the third quarter earnings call. Among the units under Lombardo’s purview are Motto Mortgage, which offers mortgage broker franchises, and Wemlo,
Remax resets mortgage strategy under new division leader Read More »
Zillow Group posted $10 million in net income in the third quarter, turning around a $20 million loss from the year ago period, as its mortgage revenue rose 36% during the time frame. The growth in its mortgage line, which includes both Zillow Home Loans and the marketplace where consumers can search for rates, was
Zillow’s mortgage revenue up 36% on purchase volume growth Read More »
Consumer satisfaction with their mortgage lender lags their opinions on the life, health and property and casualty insurers they do business with, with year-over-year scores for the industry falling. The American Customer Satisfaction Index 2025 Insurance and Mortgage Lenders Study gives the real estate finance business a score of 74, down 1% from a year
Rocket tops customer ratings but industry sees overall drop Read More »
Fannie Mae is suing four home warranty providers, accusing them of “willful misuse” of its trademarked name for their own marketing in ways that intentionally deceived consumers. In documents filed in federal court of the Northern District of Ohio, attorneys representing the government-sponsored enterprise named Warranty Global Group, based in Addison, Texas, along with three
Fannie Mae lodges lawsuit against home warranty providers Read More »
After another money-losing quarter for Primelending, Hilltop Holding’s mortgage subsidiary through Plainscapital Bank, company management was cautiously optimistic about the future. In the third quarter, the mortgage business lost $7.2 million on a pretax basis. While it did turn a pretax profit of $3.2 million in the second quarter, in the three prior periods, Primelending
Primelending management cautiously optimistic about 2026 Read More »
For all of the handwringing from government officials and economists regarding whether the Federal Reserve will reduce short-term rates again this year, many Americans just don’t care, a Wallethub survey indicates. Most people are expecting the Federal Open Market Committee to cut further at its meeting on Oct. 28 and 29, plus making what would
Many Americans ho-hum about new Fed rate cut, survey finds Read More »
Kin, a direct-to-consumer home insurance provider, has entered the mortgage broker business, starting in Florida, and offering a full array of mortgage and home equity products. The mortgage broker business is also direct-to-consumer and plans are to eventually expand to other states where Kin has a presence, said company founder and CEO Sean Harper. He
Insurance provider Kin starts Florida mortgage business Read More »
The typical down payment made by home purchasers during the third quarter increased by $500 over the previous fiscal period, with the average share remaining near 14.4% of the price, Realtor.com said. Compared to last year’s third quarter, the dollar amount of $30,400 was down by $100. While it is normal for the down payment
Down payment percentages stay elevated due to higher prices Read More »