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Optimal Blue: Rate-and-term refis soar 70% in August

Adjustable-Rate Mortgage, FHA loan, HWmember, LendingLife, Mortgage, Optimal Blue, Origination, Refinancing, VA Loan /

Borrowers rushed to refinance in August as mortgage rates eased, pushing rate-and-term refi lock volume up 70% from July, according to Optimal Blue’s Mortgage Market Advantage report released Wednesday. “Borrowers are responding quickly to rate improvements, driving the strongest month for rate-and-term refinances we’ve seen this year,” Mike Vough, head of corporate strategy at Optimal […]

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Fintech Aven raises $110M, expands into mortgage refinancing

HELOC, HWmember, Investors, LendingLife, Mortgage, Refinancing, Technology /

Fintech Aven has raised $110 million in a Series E funding round, expanded into mortgage refinancing and added heavyweight advisers Lawrence Summers and Patrick McHenry to its board, the company announced Tuesday. The San Francisco-based fintech, best known for its home equity-backed credit card, is now valued at $2.2 billion following the round led by Khosla

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Mortgage rate declines are anchored to an expected Fed cut

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With the next interest rate decision from Federal Reserve monetary policymakers just over a week away, mortgage rates have continued their downward trajectory as many lenders and investors have priced in a cut. But the markets will need to navigate one more inflation report before the Fed’s Sept. 17 meeting. On Tuesday at HousingWire’s Mortgage

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Longbridge’s ‘HELOC for Seniors’ is officially on the market

HELOC, HELOCs, Home Equity, HWmember, LendingLife, Longbridge Financial, Mortgage, Reverse, Reverse Mortgage Daily /

Longbridge Financial has officially launched a home equity line of credit (HELOC) program that’s designed for homeowners ages 62 and older, offering approval and funding in as little as five business days.  The move marks an expansion beyond the company’s core reverse mortgage business while staying focused on older borrowers. This demographic collectively holds nearly

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Hometap closes $300M securitization of home equity investments

Home Equity, Home equity loans, Hometap, HWmember, Investors, LendingLife, Mortgage, Origination, Secondary market /

Boston-based Hometap has closed a $300 million securitization of home equity investment (HEI) loans originated by the company, marking its fifth transaction in the space.  The deal, closed on Aug. 29, included a $231 million Class A tranche rated at BBB(sf) and a $12 million Class B tranche rated at BBB(low)(sf) by Morningstar DBRS.  “Through

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With a Fed rate cut likely, how big could the refinance wave be?

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Mortgage rates at their lowest levels in nearly a year are driving a wave of refinance opportunities for lenders ahead of the Federal Reserve’s expected rate cut next week. The shift is encouraging more borrowers to leave the sidelines, with small rate moves already triggering meaningful activity. “Refinance businesses increased significantly from the first quarter,

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Trump signs law banning trigger leads

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President Donald Trump on Friday signed the Homebuyers Privacy Protection Act (H.R. 2808), establishing a nationwide ban on the abusive use of trigger leads beginning in March 2026. The legislation had broad mortgage industry support. It cleared the House in June and the Senate by unanimous consent in August, with bipartisan sponsorship from Reps. John

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IMBs urge Treasury, FHFA to preserve guarantee-fee parity

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A coalition of 46 independent mortgage banks (IMBs) is calling for guarantee-fee parity and a competitive cash window in a letter sent Friday to U.S. Treasury Secretary Scott Bessent and Federal Housing Finance Agency (FHFA) Director Bill Pulte.  The push comes as the Trump administration signals plans to move forward with a stock offering for

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VA mortgage partial claim restoration faces timing challenges

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While the mortgage industry has applauded the Trump administration’s push to restore a partial claim option for U.S. Department of Veterans Affairs (VA) loans, many experts warn it may arrive too late to help thousands of struggling borrowers. The program could prevent many defaults and foreclosures, but the implementation timeline is critical, they added. In statement

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FTC revisits noncompete rules after Biden-era ban blocked

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The Federal Trade Commission (FTC) on Thursday issued a public request for information on noncompete agreements as it seeks to identify practices it considers “unfair” and “anticompetitive,” a topic that has drawn attention across the mortgage and real estate industries.  Under the Trump administration, the FTC said it will take a case-by-case approach rather than

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