Lenders are rethinking how they originate jumbo mortgages, leaning on automated underwriting technology to manage complicated details while navigating stricter investor overlays and a market that rewards those who can make the economics work. Processing Content The strategies vary, but the underlying issue is always the same: jumbo loans demand more from everyone in the […]
Jumbo lending playbook: automation, overlays and ROI Read More »
Key insight: Banks’ reliance on third-party software vendors and core providers may be eroding, according to Fifth Third consumer lending head Jay Plum. What’s at stake: Rather than scrambling to prepare for an annual exam, AI will prompt banks to conduct ‘mini reviews,’ making the exam process much easier. Expert quote: “AI changes the nature
Fifth Third official: AI will help banks ‘out-code’ vendors Read More »
LoanDepot is partnering with Figure Technology Solutions to launch a home loan product that they say can approve borrowers in as little as five minutes and deliver funding in as few as five days. Processing Content The Irvine, California-based lender will integrate Figure’s proprietary credit and loan underwriting engine into its own proprietary mello technology
LoanDepot taps Figure to launch 5-minute loan product Read More »
Mortgage rates backed off their recent 2026 high this week after concerns over an escalation of the Iran War temporarily subsided, but the numbers don’t necessarily mean an end to ongoing volatility, economists warned. Processing Content The 30-year fixed average decreased 9 basis points to 6.37%, according to Freddie Mac’s Primary Mortgage Market Survey of
Iran ceasefire brings brief reprieve for mortgage rates Read More »
Mortgage credit availability reached a three-year high in time for the spring housing market, including a rebound in government-sponsored loan products. Processing Content The Mortgage Bankers Association Thursday also reported modest monthly gains in conforming and jumbo credit in its Mortgage Credit Availability Index for March. The index’s overall 108.3 reading represented a 1.1% gain
Mortgage credit hits three-year high entering spring market Read More »
A bill proposing a new way of determining what qualifies as a conforming loan would expand the jumbo market and invite more private capital into mortgage lending — but critics warn it could also push more borrowers into higher-rate loans and worsen an already severe affordability crunch. Processing Content Rising home prices have swelled the
Should conforming loan limit math change? Read More »
New American Funding is expanding its presence in the Midwest with a new branch and team in Nebraska. Processing Content The Santa Ana, California-based lender announced Wednesday the addition of One Goal Mortgage Powered by New American Funding, a branch serving the Omaha, Nebraska, metro area and Southwest Iowa. The team joined New American in
New American Funding announces addition of One Goal Mortgage Read More »
Better Home & Finance announced Monday that it’s strengthening its finances through unexpectedly high originations, cost cuts, the sale of a United Kingdom bank and a stock offering. Processing Content The company reported that it is categorizing Birmingham Bank as held-for-sale and indicated it was actively working to shed it. Better also noted it has
Better Home & Finance selling UK bank to shore up capital Read More »
With mortgage rates spiking over the last few weeks, many homeowners are unwilling to give up their current rate, a new industry report showed. Processing Content Roughly a third of homeowners with a mortgage rate less than 6% would not give up their rate for any reason, and 47% said they couldn’t afford current rates,
Rate lock-in: 1 in 3 owners won’t budge at any price Read More »
Retail mortgage lender Rate is welcoming a new president of consumer lending to help the company further expand beyond mortgage. Processing Content Adam Boyd, a veteran financial services executive with more than 25 years of experience building and scaling consumer lending businesses, will head the growth of Rate’s consumer lending platform, the lender said in
Rate looks to scale consumer lending business with new hire Read More »