San Francisco’s median house price jumped to a record $2.15 million in March, up 18% from a year earlier as wealth generated by artificial intelligence startups flooded the city, according to brokerage Compass Inc. Processing Content Condo prices also surged, rising 27% to $1.36 million, Compass said in a report. That was just below the […]
San Francisco house prices hit record $2.15 million on AI Read More »
Reverse mortgage lender Finance of America is offering a new product that allows older homeowners to access their home equity without, they say, adding another monthly expense. Processing Content The lender launched HomeSafe Second Line of Credit, a second-lien reverse mortgage line of credit that allows homeowners 55 and older to draw funds as needed
FOA launches new reverse mortgage line of credit product Read More »
Improved affordability and increased inventory helped the spring homebuying season get off to a strong start, but the recent rise in mortgage rates has pushed some buyers out of the market, according to ICE Mortgage Technology’s latest mortgage monitor report. Processing Content “Mortgage rates bottomed near 5.95% early this year, pushing affordability to its best
Spring’s hot housing market just ran into a problem Read More »
A wave of steering investigations from the past year could keep growing. Processing Content Lawsuits and state probes for violations of the Real Estate Settlement Procedures Act and its Section 8 provision have risen in the past year, said Jonathan Kolodziej, partner at Bradley Arant Boult Cummings. The mortgage industry attorney noted increased scrutiny from
RESPA cases are rising as states fill CFPB void Read More »
Rocket Mortgage and United Wholesale Mortgage waged another fight over who would be the market leader in 2025 and appear to have ended the year with a split decision. Processing Content While UWM held onto a healthy lead in terms of dollar volume, Rocket inched ahead and became No. 1 based on loan count, according
Rocket leads UWM in 2025 HMDA loan count, trails in volume Read More »
Endorsements of Home Equity Conversion Mortgages surged noticeably last month from a short February, but volumes are still showing weakness compared to second-half 2025 levels. Processing Content HECM endorsements increased 16.3% month over month in March to 2,117 loans, according to the latest data from Reverse Market Insight. While welcome news for lenders of the
March HECM bump masks a deeper slowdown Read More »
A community lenders group is pressing for more competition in GSE credit scoring and reporting, and a new report backs the push, quantifying recent price hikes and warning that more are coming. Processing Content Credit metric costs have gone from a range of $150 to $250 for a conventional loan in April 2024 to an
Mortgage credit costs jumped 10x in 4 years: CHLA Read More »
Mortgage rates have increased for five consecutive weeks, sidelining potential buyers in the middle of the spring homebuying season. Processing Content The 30-year fixed-rate mortgage hit 6.46% this week, an eight-basis-point jump from last week’s 6.38% and the highest mark since early September, according to the Freddie Mac Primary Mortgage Market Survey. The 30-year rate
Mortgage rates hit a 7-month high, as buyers retreat Read More »
As recent incidents of double-pledging risk increase outside the domestic single-family mortgage market, questions arise as to whether they could soon be a concern for home lenders in the United States. Processing Content Double pledging occurs when an asset such as a mortgage or auto loan gets used as collateral for more than one source
Double-pledging risk: What mortgage lenders should know Read More »
Two lending software providers are adding AI enhancements for originators as mortgage companies carve their path in the rapidly changing artificial intelligence landscape. Processing Content Dark Matter Technologies, owner of the Empower loan origination system, unveiled a new embedded AI assistant named Ask Aiva this week that can deliver answers to loan officers’ questions instantly
Dark Matter, Calyx Path upgrade originations tools with AI Read More »