In the time since Vic Lombardo became president of mortgage services at Remax Holdings over two months ago, the company has “taken a new view of the mortgage opportunity,” Eric Carlson, CEO, said in the third quarter earnings call. Among the units under Lombardo’s purview are Motto Mortgage, which offers mortgage broker franchises, and Wemlo, […]
Remax resets mortgage strategy under new division leader Read More »
Three Federal Reserve officials said they did not support the US central bank’s decision to cut interest rates this week, citing inflation that remains too high. Dallas Fed President Lorie Logan and her Cleveland counterpart, Beth Hammack, said Friday they would have preferred to hold rates steady. Both were speaking at a conference in Dallas,
Fed ‘chorus’ comes out against latest rate cut, citing inflation Read More »
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
Carrington inks deal to acquire Reliance First Capital Read More »
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
Zillow’s mortgage revenue up 36% on purchase volume growth Read More »
If you stepped back from your home search over the past few years, you’re not alone – and you’re definitely not out of options. In fact, now might be the ideal time to take another look. With more homes to choose from, prices leveling off in many areas, and mortgage rates easing, today’s market is
Thought the Market Passed You By? Think Again. Read More »
Every now and then, a Thursday comes along where we have to set the record straight on what is actually going on with mortgage rates. That’s because Freddie Mac releases its weekly mortgage rate survey on Thursdays and its methodology can cause confusion in the mortgage market. This particular Thursday is an especially treacherous minefield
Mortgage Rates Are Anything But Lower This Week Read More »
Fannie Mae has staged a new round of layoffs impacting 62 people viewed as working in noncore functions, according to Federal Housing Finance Agency Director Bill Pulte’s social media post. Pulte, who has said he posts announcements informally on social media platforms like X first to provide immediate transparency, indicated that the cuts were made
Fannie Mae laying off 62 in DEI, COO, and other units: Pulte Read More »
Rocket Companies swung back to a GAAP net loss in the third quarter as the company finalized its first of two major purchases, the acquisition of Redfin, during the period. The Mr. Cooper transaction, the larger of the two, did not close until Oct. 1, but included in the current results was the previously disclosed
Rocket’s Q3 dips into the red amid deal costs Read More »
High-speed internet access has evolved from a luxury amenity to an essential utility that directly influences residential property valuations across the United States. Modern homebuyers and mortgage lenders increasingly recognize broadband connectivity as a major factor in determining home desirability and market value. Broadband infrastructure drives market premiums According to a study published in Regional
Assessing the impact of broadband on property values Read More »
Intercontinental Exchange is making more money from its mortgage technology unit, profits executives said should remain steady with new customers offsetting big-name departures. The sprawling financial giant reported $22 million in mortgage technology operating income for the third quarter, trending upward after past losses flipped into the black in the second quarter. On an adjusted
ICE unfazed by big lender exits as it adds more customers Read More »