Seattle-based HomeStreet Bank has agreed to sell its $794 million Ginnie Mae loan servicing portfolio to an undisclosed “experienced” buyer, the company announced in a regulatory filing. The transaction is scheduled to close on August 1. “As HomeStreet carried this servicing portfolio at current market value at June 30, 2025, no gain or loss is […]
HomeStreet to sell $794M in Ginnie Mae MSRs Read More »
In the wake of massive wildfires that destroyed 16,000 structures in Los Angeles County in January, hundreds of banks and mortgage companies agreed to let borrowers delay their monthly payments for 90 days, without demands for full repayment at the end of the forbearance period. Others simply pledged relief and relocation assistance. California’s state-run mortgage
Californians report unraveling mortgage relief after the fires Read More »
Tidalwave, a mortgage technology startup that’s integrated with Fannie Mae and Freddie Mac, announced Monday that it has hired a pair of industry veterans to bolster its sales team. John Stephenson has joined Tidalwave as its head of national sales, while Frank Pastirchak is the company’s new account executive. Stephenson is a former relationship manager
Tidalwave announces new hires to lead mortgage technology sales Read More »
Detroit-based Rocket Companies confirmed a company-wide layoff on Friday, just weeks after completing its $1.75 billion all-stock acquisition of real estate brokerage Redfin. The cuts affected roughly 2% of the firm’s workforce. “Following the Redfin acquisition, we carefully reviewed our combined structure, identified overlapping roles and made the difficult decision to streamline teams,” a spokesperson
Rocket lays off 2% of workforce after closing Redfin acquisition Read More »
Mortgage technology company Mobility Market Intelligence (MMI) announced on Monday its launch of ChatMMI, which claims to be the industry’s first conversational artificial intelligence interface built specifically for lenders, recruiters and other mortgage professionals. The tool allows MMI users to skip dashboards and spreadsheets to directly ask questions via a chat function. The company said
MMI unveils conversational AI for mortgage loan officers Read More »
The U.S. mortgage market is undergoing a tectonic shift, and Non-Qualified Mortgage (Non-QM) lending is at the epicenter of this transformation. Once viewed as a niche or transitional product, non-QM lending now represents around 5 percent of today’s mortgage market, according to a recent CoreLogic report. Far from another risky expansion of lending standards that
The Non-QM revolution: Redefining homeownership in the modern economy Read More »
Welcome back to Tech Pulse — HousingWire‘s weekly series rounding up the latest in technology news, including tools, integrations and trends that impact mortgage and real estate. Here’s what happened this week: Realtor.com parent Move acquires Zenlist Realtor.com parent Move Inc. has acquired Zenlist, a real estate tech startup known for its agent-client collaboration tools. The deal boosts Realtor.com’s
Tech Pulse: Realtor.com acquires Zenlist; Zillow unveils new tools Read More »
VantageScore and FICO have escalated their rivalry in the mortgage space following the Federal Housing Finance Agency’s (FHFA) decision to allow Fannie Mae and Freddie Mac to purchase loans underwritten with VantageScore 4.0 as an alternative to the Classic FICO score. Both companies published analyses this week from their data scientists. Naturally, each claims their score more
Which is better for mortgage — FICO or VantageScore? Read More »
After launching a new proprietary loan product this spring, one of the nation’s leading reverse mortgage lenders has expanded the offering this week to more states. Mutual of Omaha Mortgage announced on Friday that its SecureEquity+ product, which became available in April to eligible California and Florida residents, is now available in 12 additional states.
Mutual of Omaha expands proprietary reverse mortgage offering Read More »
A federal judge has dismissed the claims of both the plaintiffs and defendants in an appraisal discrimination lawsuit that garnered national attention when it was filed in 2022. Nathan Connolly and Shani Mott — Maryland homeowners who are Black — sued appraiser Shane Lanham, his company 20/20 Valuations and mortgage lender loanDepot for allegedly undervaluing
Judge dismisses Maryland appraisal discrimination case and defamation countersuit Read More »