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Carrington inks deal to acquire Reliance First Capital

Industry News, M&A, Originations, Servicing /

The mortgage industry is seeing another merger-and-acquisition deal, with Carrington Holding Co. adding a new channel to its mix through its purchase of a suburban New York-based residential lender. The owner of several businesses providing services to the real estate and mortgage industries, Carrington announced an agreement to acquire Reliance First Capital from its parent […]

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Zillow’s mortgage revenue up 36% on purchase volume growth

Earnings, Marketing, MARKETING TO BORROWERS, Originations, Zillow /

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

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Newrez posts fourth straight quarterly profit

Earnings, Industry News, Originations, REITs, Servicing /

Newrez posted a fourth straight quarterly profit, as parent company Rithm Capital pointed to a new servicing deal with Wells Fargo and falling interest rates as drivers of recent momentum.  Technology, particularly investments in artificial intelligence, also paid dividends that drove profits for Newrez, said the lender’s President Baron Silverstein.  “Even with increased production, our

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Mortgage rates tick down following Fed’s cut

Industry News, Mortgage Rates, Originations /

Mortgage rates declined for the fourth consecutive week on the back of the Federal Reserve’s second rate cut of the year. The 30-year fixed-rate mortgage averaged 6.17%, just a 0.2-percentage-point drop from last week‘s 6.19%, according to Freddie Mac’s Primary Mortgage Market survey. The 30-year rate was 6.72% a year ago. “The last few months

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Climate change increasingly worries potential homebuyers

Climate Change, Housing markets, Originations /

After hurricanes in Florida, floods in Texas and wildfires in California plagued the United States this year, homeownership worries Americans, a survey released Wednesday showed. More than two-thirds of Americans believe homeownership is riskier now than it was 10 years ago due to climate change and natural disasters, according to a survey conducted by Clever

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Credit provision shifts drive Freddie Mac’s earnings

Earnings, Freddie Mac, Originations, Secondary markets, Servicing /

Freddie Mac, like larger counterpart Fannie Mae, reported another profitable quarter that could fuel more interest in a potential new public offering for some of their shares. The government-sponsored enterprise earned $2.8 billion in net income during the quarter, compared to $2.39 billion the previous fiscal period and $3.11 billion a year earlier. The pattern in

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Pending home sales stall as labor market concerns build

Housing markets, Mortgage Rates, Originations /

Pending sales of existing US homes stalled in September, suggesting anxiety about the job market kept potential buyers sidelined despite a welcome easing in mortgage rates. An index of contract signings held at 74.8 after climbing a revised 4.2% a month earlier to the highest level since March, according to National Association of Realtors data

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Falling rates fuel second week of refi surge

Housing markets, Mortgage applications, Mortgage Rates, Originations /

The lowest mortgage rates in over a year accelerated refinance activity for the second consecutive week, the Mortgage Bankers Association said. The MBA’s Market Composite Index, a measure of mortgage loan application volume, jumped 7.1% on a seasonally-adjusted basis for the week ending Oct. 24 after four weeks of declining activity. The index increased 7%

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Rocket tops customer ratings but industry sees overall drop

Customer experience, Customer service, Marketing, MARKETING TO BORROWERS, Mortgage technology, Originations /

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

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