Sales of new homes in the US remained weak in June as builders’ heavier use of sales incentives failed to motivate buyers put off by high costs. Contract signings on new single-family homes increased 0.6% to an annualized rate of 627,000 last month, according to government data released Thursday. That fell short of the 650,000 […]
New-home sales remain tepid on affordability constraints Read More »
For the first time, J.D. Power is comparing trends it sees in mortgage servicer customer satisfaction scores with what’s happening on the originator side. This analysis is telling of a business going in two different directions. While the latest originator survey, released in November, found a 3-point year-over-year drop, the industry average was still a
Servicers lag originators in J.D. Power scores Read More »
Home equity investment platform Unlock Technologies announced it received a new multimillion dollar commitment to help support the expansion of its consumer financing contracts. The $250 million capital agreement with D2 Asset Management guarantees the purchase of originated products by the firm and doubles the amount of an initial deal the two companies signed last
HEI platform Unlock receives $250M in capital support Read More »
Rocket Companies announced a strategic move to sunset its credit card Wednesday, with the company opting to focus on goals to grow its homeownership platform instead. An email from Rocket Card sent to customers reveals that on September 8 the card will be discontinued. The firm said that even though it is stepping back from
Rocket to sunset its credit card, confirms 2% workforce cut Read More »
Sales of previously owned US homes fell in June to a nine-month low as potential buyers continued to bristle at record prices and high borrowing costs. Contract closings decreased 2.7% in June to an annualized rate of 3.93 million, a report from the National Association of Realtors showed Wednesday. Economists surveyed by Bloomberg expected a
Existing-home sales fall to nine-month low on record prices Read More »
Mr. Cooper Group on Tuesday recorded mixed earnings for the second quarter that fell short of matching year-ago results and consensus estimates but were considerably stronger than the bottom line in the previous fiscal period. Servicing, including a $30 million mark net of hedges, was the key driver of the second-quarter’s $198 million profit. That
Mr. Cooper profit rises with Rocket deal in focus Read More »
A new lender says it can give a company’s employees up to 75 basis points off their interest rate through its mortgage benefits program. Multiply Mortgage, founded in 2022, says the average worker utilizing its perks saves up to $5,700 per year, relative to home loan offers they were comparing the offer to. The broker
New lender touts big mortgage perks for workers Read More »
Pennymac enjoyed a more productive second quarter, although it suffered a financial hit from hedging results over early spring rate volatility. The Southern California-based mortgage giant reported $136.5 million in net income for the second quarter, missing a Standard & Poor’s Capital IQ consensus estimate of $152 million. The net income figure however was up
Pennymac profit jumps 79% despite hedge losses Read More »
Douglas Elliman, the nation’s sixth-largest real estate brokerage, is the latest firm to unite home sales and financing under one roof. The company has entered into a “strategic alliance” with Associated Mortgage Bankers, Ronkonkoma, New York, to create Elliman Capital. “By bringing mortgage services in-house, we’re creating an unprecedented level of convenience and oversight to
Douglas Elliman forms mortgage venture with AMB Read More »
The share of mortgage loans with issues that could indicate fraud declined in the second quarter of 2025, although it is still above levels seen in the second half of last year, Fundingshield’s Wire Fraud Analytics report said. During the period, nearly 46.63% of transactions analyzed in an $81 billion residential, commercial and business purpose
Existing lender controls lacking to detect mortgage fraud Read More »