Long-time mortgage industry executive Rick Thornberry is retiring as the CEO of the Radian Group just months after overseeing a major business shift into a multi-line insurer. Processing Content The company closed on its purchase of Inigo, a Lloyd’s specialty insurer in February; it is still in the process of selling its real estate services […]
Radian names ex-Mr. Cooper president as next CEO Read More »
The gap between inflation and home-price growth widened in March, as price gains continued to slow, an industry report found. Processing Content The S&P Cotality Case-Shiller home price index rose 0.7% annually in March, down from a 0.8% increase in the previous month. More than half of the major metropolitan markets in the United States
Gap between inflation and home-price growth widens in March Read More »
Federal Housing Administration rules in certain states can add a challenge for lower income couples with one spouse who has a credit issue, and a real estate group wants to remove that extra hurdle. Processing Content The concern lies in the fact that an option otherwise available to FHA borrowers, putting the loan in the
Why an FHA rule for nonborrowing spouses is making waves now Read More »
The Federal Housing Administration has announced that it has taken steps to streamline its case number assignment process for spot approvals on condo units. Processing Content The streamlining by the Department of Housing and Urban Development unit is designed to further expedite a process which allows mortgage companies to get a case number for loans
FHA adds automation for spot approvals on condos Read More »
NEXA Lending entered into what it described as a “strategic investment and phased acquisition agreement” with Copper Ridge Ventures. Processing Content Copper Ridge Ventures is a holding company for mortgage joint ventures owned by Tim Owens. NEXA noted its president, Geri Farr, and Tammy Richards, its chief strategy officer, have had a relationship with Owens
NEXA makes ‘strategic investment’ in Copper Ridge Ventures Read More »
Rocket Mortgage and its third-party originations unit Rocket Pro have begun utilizing the VantageScore 4.0 model, a company statement said. Processing Content It will be doing this alongside the Classic FICO model, which has been in vogue since automated underwriting was introduced by the government-sponsored enterprises. This is now live in both channels at Rocket.
Rocket confirms VantageScore availability for retail and TPO Read More »
The housing market is seeing its best start to home buying season in years, thanks to competitive seller pricing, according to a report from Realtor.com. Processing Content Year to date, new seller listings are up 1.4% compared to 12 months earlier, while contract signings grew 2.9% versus 2025, the home buying platform said in its
Surprise! Contract signings, listings point to best spring in years Read More »
Mortgage rates enter the Memorial Day weekend at levels not seen since last Labor Day with the bond market in a tizzy this past week. Processing Content News over inflation and the Iran conflict influenced investors and as a result, the 10-year Treasury reached its highest point in 52 weeks. For the week of May
Mortgage rates surge to 9-month high amid market turmoil Read More »
Call it non-QM, call it non-agency, call it whatever you want. Just don’t call it a niche product anymore. That’s what panelists at the Mortgage Bankers Association’s Secondary and Capital Markets Conference sought to drive home. Processing Content And this business is more than just non-qualified mortgages, they added. “I would even say that about
The non-agency market is bigger than you think Read More »
As buyers return to the market this spring, the percentage of home sellers cutting their asking price is falling and home prices are rising, according to a Redfin report. Processing Content Just over 35% of sellers in the United States decreased their asking price in April, down from 35.6% in March on a seasonally-adjusted basis
Fewer sellers cutting prices as spring buyers return Read More »