Union Home Mortgage reached an agreement to acquire the assets of Sierra Pacific Mortgage, National Mortgage News has confirmed. Terms of the transaction were not available. The Strongsville, Ohio company headed by past Mortgage Bankers Association Chairman Bill Cosgrove has completed a number of acquisitions in recent years. “We are excited to work with such […]
Union Home Mortgage to acquire Sierra Pacific assets Read More »
Home lenders were already pricing in a 25 basis-point Federal Open Market Committee cut as a key monetary meeting got underway Tuesday, suggesting that it’ll take an outcome beyond that for them to move lower. “If they cut 25 basis points and the narrative is neutral, and reasonable people can disagree or debate what neutral
Why mortgage lenders haven’t waited for the Fed to cut rates Read More »
A federal judge in Colorado ruled against a motion to dismiss from Rocket and Solidifi over allegations of appraisal bias that the U.S. government has pursued. The homeowner involved, Francesca Cheroutes, is part of the complaint as an intervening plaintiff. The motions sought to dismiss the allegations raised by both the government and Cheroutes. The
Judge rejects Rocket’s motion to dismiss discrimination suit Read More »
While it is increasingly likely the Fannie Mae and Freddie Mac conservatorships are nearing some sort of end, the question is whether their conforming product boxes will be expanded as a result. The demand for products that address unique borrower needs isn’t going away anytime soon. In recent weeks, lenders have introduced a wide range
From crypto to DPA: 8 newest mortgage products, programs Read More »
Equity Prime Mortgage is defending its lending practices after a federal regulator terminated some of its regional approvals following a data analysis review. The Department of Housing and Urban Development won’t allow EPM to submit Federal Housing Administration loans in six eastern jurisdictions, it disclosed Thursday. The terminations relate to certain elevated default and claim
Equity Prime Mortgage fires back at HUD’s FHA prohibitions Read More »
Mortgage correspondent lender LitFinancial has launched a stablecoin on an Ethereum blockchain with the initial aim of improving its treasury efficiency and reducing its cost of capital. Lit, based in Troy Michigan, is working with Brale, a stablecoin-as-a-service platform, and Stably, a stablecoin advisory firm, on the new token which is named litUSD. Brale is
LitFinancial turns to crypto for mortgage funding Read More »
Mortgage credit availability inched upward in August, continuing in a direction that indicates some stabilization in the mortgage market, according to the Mortgage Bankers Association. The MBA’s Mortgage Credit Availability Index increased 0.1% to 104 last month. The report follows July’s marginal rise of 0.2% and marks two consecutive months of gains after a 1.3%
ARMs drive slight boost in credit availability Read More »
Figure Technology Solutions started trading as a public company and the first moves were substantially higher, according to information on Yahoo Finance. The company priced its offering at $25 per share on Wednesday evening. Early trades, starting around 12:30, put the stock in a range between $32 and $37 per share, with an opening price
Figure Technology goes public, opens at $36 per share Read More »
Mortgage rates fell by a whopping 15 basis points this week, to their lowest point in almost a year, as Fed watchers are now certain a short-term rate cut is in the offing, Freddie Mac reported. The 30-year fixed rate mortgage was at 6.35% on Sept. 11, down from 6.5% one week ago, the Freddie
Mortgage rates drop further as the odds of a Fed cut rises Read More »
Figure Technology Solutions priced its initial public offering Wednesday evening at $25 per share. This is $3 per share higher than the last expected price range of between $20 and $22. The first trade is expected to take place on Nasdaq on Thursday between late morning and early afternoon under the FIGR ticker symbol. While
Figure prices IPO above expected range Read More »