Figure Technologies, Homebridge end merger plans
Delays in closing the deal after it was announced in August resulted in the parties' decision to remain separate, although they will still work together.
Originations
Housing market starting to shift back to buyers
The inventory shortage is beginning to ease, while demand is slowing due to high prices and rising mortgage rates.
Mortgage rates flatten amid talk of economic slowdown
With anticipated Federal Reserve moves already factored in, inflation and jobs data could play a bigger role in driving movement over the near term.
Mortgage originations could sink more than expected
The effects on nonbanks will depend on the mix between their production and servicing operations, Fitch Ratings said.
No-doc loans show signs of growth under CDFI exemption
Privately securitized mortgages made by these institutions have already exceeded 2021 levels, however some of the collateral lacks income verification, according to a new KBRA report.
20% of home sellers slashed list price in last 4 weeks: Redfin
Several Sun Belt cities popular for relocation over the last two years were among markets with the most reduced listing prices in April.
Freddie Mac expands use of bank account data for verifications
Mortgage companies selling loans to the government-sponsored enterprise will be able to use the information for one type of employment check as well as to validate income and assets.
FHFA Chief Sandra Thompson confirmed by narrow margin
The acting head of the Federal Housing Finance Agency will become the first African American woman to lead the agency as a result of the vote Wednesday.
Mortgage volumes edge downward as high rates dry up refinances
While the purchase index registered a tiny uptick, activity has fallen to nearly the same level seen during the first months of the pandemic shutdown.
The challenges in underwriting for today’s self-employed borrowers
While longtime non-QM companies have originated mortgages in the segment for years, new contenders have come into the market as the number of potential customers who fit into the category grows.
Homepoint partners with Accept.Inc to launch cash offer product
The offering touts closings in as few as 10 days and allows homebuyers to compete with deep-pocketed investors and iBuyers.
Consumer attitudes about housing market reach a 2-year low
A larger share felt it was a bad time for both buying and selling, but a growing number expect price growth to slow.
Mortgage jobs post first two-month decline since 2019
The March estimates for payrolls of nonbanks involved in home lending confirm widespread anecdotal reports of industry layoffs, but strength in broader financial-services hiring could pick up the slack.
Mortgage volumes increase for first time since early March
Purchase numbers came in higher for both conventional and government activity, while the average loan amount shows signs of easing.
New Residential reports servicing income surge, HELOC launch
While first-quarter profits were up considerably, CEO Michael Nierenberg said the company will offer more products to counter market conditions that are “only going to get worse.”
Mortgage activity tumbles to lowest level since 2018
Surging interest rates have pushed refinance applications down by over 70% in a year, while ARMs have doubled their share in three months.
Wells Fargo confirms mortgage staff layoffs
The bank didn’t disclose which specific employees, or how many, were impacted by the announcement.
Risky alternative financing is being used by millions: study
Different loan options to traditional mortgages can be costlier, lack consumer protections and leave debtors at risk of ownership disputes and loss of home equity.
Wells Fargo reports drop in home loans, new minority borrower aid
Servicing gains failed to offset steep origination declines at the bank, which continues to battle allegations of racial discrimination.
Top mortgage originators talk strategy for 2022 and beyond
While both refinance and purchase customers were banging down the doors in 2021, leading producers are already working much harder as they change up their offerings.
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