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Cornerstone, former executive dismiss mutual lawsuits

CAREER & COMPENSATION, Law and legal issues, Originations, Workplace /

Dueling cases involving Cornerstone Capital Bank and a former executive have been dismissed prior to trial, with both sides claiming victory. Each party has a different interpretation of what happened in the legal matter involving former Cornerstone Home Lending executive Manuel Valdes. A former independent mortgage banker, Cornerstone acquired a Texas state chartered bank in […]

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Pennymac, like UWM, raising its conforming loan limits early

Pennymac, like UWM, raising its conforming loan limits early

Industry News, Originations /

Pennymac is raising its conforming loan limits, effective immediately, ahead of the Federal Housing Finance Agency’s official announcement in November. The increase of nearly $13,000 for single units comes a day after United Wholesale Mortgage hiked its conforming limits, becoming the first major lender to do so in this market cycle. “By getting ahead of

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EXCLUSIVE RESEARCH: The mortgage lender’s conundrum behind tech decisions

Editorial Research, Mortgage technology, Originations, Technology /

In today’s digital age, lenders are keenly aware of the value in maintaining essential mortgage technology systems, but expenses that hold back some from moving forward on upgrades and improvements can cause future financial pain. Having strong, reliable and new tools is top of mind at many lenders, but the decision-making behind applying changes isn’t

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Mortgage rates lower but full impact of FOMC not felt yet

Economy, MARKETING TO BORROWERS, Mortgage Rates, Originations /

Those who expected lower mortgage rates in the immediate aftermath of yesterday’s Federal Open Market Committee actions are likely disappointed with the early market response. The 10-year Treasury yield rose to 4.13% at 11 a.m. Thursday, up 5 basis points from its close at 4.08% at 3 p.m. on Wednesday, an hour after the Fed

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What you missed from day two at Digital Mortgage

Artificial Intelligence, Industry News, Mortgage technology, Originations /

The industry’s top technology minds at the National Mortgage News Digital Mortgage Conference in San Diego Wednesday urged mortgage firms to integrate artificial intelligence into their organizations peacefully, or else.  Whereas top lenders on day one urged firms to maintain a human touch, tech lenders on day two advised competitors to get their entire staff

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UWM first to raise its conforming limits for 2026

Marketing, MARKETING TO BORROWERS, Mortgage Rates, Originations, Secondary markets, Underwriting /

United Wholesale Mortgage is the first major lender this year to raise its conforming loan limits in advance of the formal announcement in November by the Federal Housing Finance Agency. Even though UWM will start obtaining loans with these higher limits from mortgage brokers immediately, it will need to keep the mortgages on its balance

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Fed cuts but only some mortgage rates are moving lower

Capital markets, LOAN PRODUCTS, Mortgage Rates, Originations, Politics and policy, Servicing /

The Federal Open Market Committee’s decision to meet broad expectations for a 25 basis point cut might not give many people in the market for a home loan the break they anticipated. “What does that do for mortgage rates? I think we’ve already seen that show up. The last three, four weeks, we’ve seen mortgage

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Mortgage applications soar, led by refinancing spike

Mortgage applications soar, led by refinancing spike

Industry News, Mortgage Rates, Originations /

Adobe Stock Mortgage applications continued to soar last week on the back of the lowest rates in almost a year, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. After application volume dropped in three consecutive weeks, it rose 9.2% on a seasonally adjusted basis the week ending September 5 and jumped another 29.7%

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What you missed from day one at Digital Mortgage

Artificial Intelligence, Mortgage technology, Originations /

The industry’s largest competitors at the National Mortgage News Digital Mortgage Conference Monday in San Diego agreed that it’s crucial to watch tech adoption by their own staff very closely. And despite countless artificial intelligence solutions, lenders say they’re still prioritizing their originators’ human touch with borrowers. Here are a few takeaways from the first

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Mortgage lenders top banks, credit unions in tech adoption

Artificial Intelligence, Fintech, Originations /

Mortgage lenders are keeping pace with, and in some cases surpassing, banks and credit unions when integrating new technologies. Enlisting outside expertise can be a deciding factor in how successful these efforts are. National Mortgage News’ Emerging Technology and Artificial Intelligence report surveyed 128 professionals across the banking, credit union and mortgage industries on the

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