Apply Online
Schedule a Call

Originations

Mortgage industry baffled by Trump’s MLO order

Originations, Politics and policy, Regulation and compliance /

A section of President Donald Trump’s recent executive order, titled “Promoting Access to Mortgage Credit,” caused confusion throughout the mortgage industry, seemingly addressing a nonissue. Processing Content Section 10 of the order called for “eliminating duplicative or unnecessary requirements regarding licensing or registration for mortgage loan officers of any smaller bank.” The directive fits with […]

Mortgage industry baffled by Trump’s MLO order Read More »

Two Harbors jilts UWM Holdings for CrossCountry

M&A, Originations, Servicing, UWM /

Two Harbors Investment has jilted UWM Holdings at the altar, agreeing to be acquired by CrossCountry Mortgage for $10.80 in an all-cash transaction. Processing Content UWM went into attack mode following the announcement before the market’s opened on Friday morning. “The actions taken by TWO’s management team and board do not reflect the best interests

Two Harbors jilts UWM Holdings for CrossCountry Read More »

Better, Coinbase allow tokens to support conforming loan

Better, Coinbase allow tokens to support conforming loan

Cryptocurrency, Originations, Secondary markets, Servicing, Underwriting /

Better Home & Finance, the parent company of Better.com, is partnering with Coinbase to launch token-backed down payments for conforming mortgages. Processing Content Americans who qualify for a mortgage with Better will be able to use Bitcoin or USD Coin as collateral to fund their down payment through a private loan, the company announced in

Better, Coinbase allow tokens to support conforming loan Read More »

Summit lays off dozens in wake of CrossCountry deal

Industry News, Layoffs, M&A, Originations /

Shortly after announcing a merger agreement with retail lender CrossCountry Mortgage, Summit Funding said it will permanently eliminate 163 positions across the company.  Processing Content The Sacramento, California-based home lender informed state officials in a mandatory Worker Adjustment and Retraining Notification filing dated March 19, just one day after the merger was officially announced. The

Summit lays off dozens in wake of CrossCountry deal Read More »

Mortgage rates now at highest point since September

Economy, Marketing, MARKETING TO BORROWERS, Mortgage Rates, Mortgages, Originations, Politics and policy /

The 10-year Treasury yield continued its wild movements based on alternating headlines on the Iran conflict, but as a result mortgage rates ended the week 16 basis points higher, Freddie Mac found. Processing Content The 30-year fixed rate mortgage reached 6.38% for March 26, up from an average of 6.22% one week earlier, the Freddie

Mortgage rates now at highest point since September Read More »

Lenders: Chase affordability gains before rates climb further

MARKETING TO BORROWERS, Mortgage Rates, Mortgages, Originations, Underwriting /

February’s low mortgage rates, when the 30-year fixed fell below the 6% mark, helped to improve homebuyer’s ability to afford the payments on their purchase, the Mortgage Bankers Association found. Processing Content During the month, lenders were offering loans priced under 6%, with the industry average at 5.98% for the week of Feb. 26, according

Lenders: Chase affordability gains before rates climb further Read More »

MISMO, ALTA issue new title, settlement document guidelines

MISMO, ALTA issue new title, settlement document guidelines

Industry News, Mortgage technology, Mortgages, Originations, Title insurance /

Two influential groups in the home finance space have teamed up to provide information standards that will streamline title and mortgage closing processes.   Processing Content The Mortgage Industry Standards Maintenance Organization and American Land Title Association announced the publication of two new datasets, both of which should form a digital convention for documentation to benefit

MISMO, ALTA issue new title, settlement document guidelines Read More »

Home sales cancelled at record rate as buyers hold power

Housing affordability, Housing markets, Originations, Redfin /

Buyers have significantly more negotiating power than sellers in the housing market today, resulting in a record amount of home-sale cancellations, a new industry report found. Processing Content More than 42,000, or 13.7%, of home-sale agreements in the United States fell through last month, according to a Redfin report. That’s the highest February share in

Home sales cancelled at record rate as buyers hold power Read More »

Senator calls for FTC investigation into FICO score pricing

Senator calls for FTC investigation into FICO score pricing

Credit scores, Industry News, Mortgages, Originations, Politics and policy /

Senator Josh Hawley, a Republican from Missouri, during a hearing on Wednesday, April 17, 2024. Photographer: Graeme Sloan/BloombergGraeme Sloan/Bloomberg A Republican senator launched a new investigation into the leading provider of mortgage borrower credit scores, reiterating prior criticism of a “monopoly” he says proves detrimental to aspiring home buyers.  Processing Content Alongside his own investigation

Senator calls for FTC investigation into FICO score pricing Read More »

Sellers outnumber buyers by record margin in February

Sellers outnumber buyers by record margin in February

Home Prices, Housing affordability, Housing markets, Mortgages, Originations /

Despite mortgage rates reaching nearly 4-year lows last month, the gap between sellers and buyers in the housing market grew to its largest size on record.  Processing Content There were an estimated 630,000, or 46.3%, more home sellers than buyers in the United States in February, according to a new Redfin report. That is the

Sellers outnumber buyers by record margin in February Read More »