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Industry News

Mortgage Cadence sold to global software firm Partnerone

Industry News, M&A, Mortgage technology, Technology /

Loan origination system platform Mortgage Cadence is under new ownership following its sale to an enterprise software acquisition group. Partnerone, an international software firm with a record of acquiring and scaling companies, announced a purchase of the mortgage technology business from current parent Accenture. Mortgage Cadence has operated as a unit within the financial services […]

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Mortgage groups praise rollbacks of CFPB nonbank rules

CFPB News & Analysis, Industry News, Politics and policy, Regulation and compliance /

Mortgage industry trade groups quickly expressed support for the Trump administration’s elimination of two nonbank registry rules, including a reporting requirement that first went into effect last year. Leaders welcomed the decision, citing the additional headaches it presented to mortgage lenders with little to no benefit in return.  “Rescinding these two requirements just makes sense,”

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Bilt to let members earn housing rewards through Venmo

Fintech, Industry News, Mortgage technology, Technology /

Housing rewards platform Bilt Technologies will partner with Venmo, adding the app to its existing payment methods that can help consumers earn points toward homeownership.  Beginning next year, Bilt members will have the opportunity to connect their accounts to Venmo, with the new option offering another way to earn points from rental and mortgage payments,

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Fannie Mae lodges lawsuit against home warranty providers

Fannie Mae, Industry News, Law and legal issues, MARKETING TO BORROWERS /

Fannie Mae is suing four home warranty providers, accusing them of “willful misuse” of its trademarked name for their own marketing in ways that intentionally deceived consumers. In documents filed in federal court of the Northern District of Ohio, attorneys representing the government-sponsored enterprise named Warranty Global Group, based in Addison, Texas, along with three

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FHA foreclosures drag down strong mortgage performance

FHA, Foreclosures, Industry News, Secondary markets, Servicing /

Mortgage performance remained strong in September despite Federal Housing Administration loans driving up total foreclosures, according to new industry data. Overall foreclosure volume remained historically low, with foreclosure sales reaching 21,000 in the third quarter this year, roughly half of 2019’s pre-pandemic levels, according to a report from ICE Mortgage Technology. FHA loans accounted for

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Mortgage rates fall to lowest mark in over a year

Industry News, Mortgage Rates, Originations /

Limited economic data has economists expecting the Federal Reserve to maintain its rate-cutting posture, but other factors might be having a greater effect on mortgage lending, with the 30-year fixed rate mortgage interest rate average now at a 2025 low.  Even with the relatively flat movement of yields, which often sway the direction of mortgage

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Lenders move tech dollars to the back office

Industry News, Mortgage technology /

Mortgage technology dollars are flowing away from the consumer.  While industry investment has historically flowed into front-facing aspects, home loan players have shifted spending to back-office efficiencies in recent years, multiple experts said Wednesday at the Mortgage Bankers Association Annual conference in Las Vegas.  “What we’re seeing now is more investments on planning, risk, (quality

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Pennymac financial services unit improves profitability

Earnings, Industry News, Originations, Secondary markets, Servicing /

Pennymac’s financial services unit built profits as it produced consistent consecutive-quarter loan volume and reduced servicing valuation-related losses in a market with lower rates, but it fell short of some consensus expectations. The $181.5 million in net income recorded under generally-accepted accounting principles topped the previous quarter’s $136.5 million and $69.4 million a year earlier,

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Rate welcomes Jason Stenger to executive leadership

Rate welcomes Jason Stenger to executive leadership

CAREER & COMPENSATION, Career moves, Industry News, Originations /

Residential mortgage and services provider Rate is rolling out the welcome mat for mortgage industry veteran Jason Stenger, appointing him to chief production officer.  Stenger moves over to Chicago-based Rate from Movement Mortgage, where he most recently held the title of chief operations officer, a role he served in for over three years. Lyra Waggoner

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