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How mortgage companies aim to aid borrowers amid shutdown

Capital markets, Originations, Servicing /

As thousands of borrowers potentially face job interruption resulting from the government shutdown that’s disrupted some loans, the housing finance industry is working to identify the right messaging and resources to keep payments and originations on track. With a Congressional Budget Office report pegging the number of jobs impacted at 750,000, mortgage businesses are offering […]

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Many Americans ho-hum about new Fed rate cut, survey finds

Economy, Housing markets, MARKETING TO BORROWERS, Mortgage Rates, Originations /

For all of the handwringing from government officials and economists regarding whether the Federal Reserve will reduce short-term rates again this year, many Americans just don’t care, a Wallethub survey indicates. Most people are expecting the Federal Open Market Committee to cut further at its meeting on Oct. 28 and 29, plus making what would

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Purchase apps languish even though mortgage rates decline

Housing markets, LOAN PRODUCTS, Mortgage Rates, Originations /

A 5 basis point drop in conforming mortgage rates boosted loan refinance application volume this week, but overall activity was down from seven days’ prior, the Mortgage Bankers Association said. Its Market Composite Index found application activity inched 0.3% lower on a seasonally adjusted basis from seven days prior and fell 0.2% on an unadjusted

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Mortgage exec calls AI hype a bubble as others weigh risks

Artificial Intelligence, Originations /

Artificial intelligence dominated the conversations at the 2025 Mortgage Bankers Association Annual conference in Las Vegas, but a top mortgage executive called the hype a bubble.  As lenders, servicers and vendors race to invest in AI and are touting their AI prowess alongside countless companies across the nation’s economy, Brian Woodring, chief information officer at

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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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Insurance provider Kin starts Florida mortgage business

Insurance provider Kin starts Florida mortgage business

Housing markets, Insurance, Marketing, MARKETING TO BORROWERS, Originations /

Kin, a direct-to-consumer home insurance provider, has entered the mortgage broker business, starting in Florida, and offering a full array of mortgage and home equity products. The mortgage broker business is also direct-to-consumer and plans are to eventually expand to other states where Kin has a presence, said company founder and CEO Sean Harper. He

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Senior home equity holdings rise to record level

Housing markets, LOAN PRODUCTS, Originations, Underwriting /

Seniors’ home equity holdings set a record in the second quarter as property values continue to increase, albeit at a slower pace than earlier this year. However, given the ongoing government shutdown, endorsements of Home Equity Conversion Mortgages, the Federal Housing Administration product which makes up the bulk of reverse mortgage lending, are on hold.

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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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Better launches HELOC, CES wholesale channel

Better.com, HELOANs, HELOCs, Home equity loans, LOAN PRODUCTS, Originations /

Better Home & Finance is rolling out a new wholesale operation where it’ll offer home equity line-of-credit and closed-end second liens.  The lender is touting a wide credit matrix, fast originations and options including 12 and 24 month bank statement approval options for small business owners. The largely direct-to-consumer shop, with an emerging retail arm,

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Down payment percentages stay elevated due to higher prices

Housing markets, MARKETING TO BORROWERS, Originations, Underwriting /

The typical down payment made by home purchasers during the third quarter increased by $500 over the previous fiscal period, with the average share remaining near 14.4% of the price, Realtor.com said. Compared to last year’s third quarter, the dollar amount of $30,400 was down by $100. While it is normal for the down payment

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