While its two mortgage banking segments made money during the second quarter, Redwood Trust lost $100.2 million for the period, related to businesses it is winding down. This compared with net income of $14.4 million in the first quarter and $13.8 million in the second quarter of 2024. The legacy investments are now its own […]
Redwood Trust’s mortgage businesses turn 2Q profits Read More »
Fannie Mae, the larger of two government-related loan buyers the Trump administration is considering repositioning for monetization, reported net worth and efficiency improved in the second quarter but earnings fell due to a revised credit loss provision linked to softer home prices. The government-sponsored enterprise generated $3.3 billion in net income during the period, down
Fannie Mae trims costs but profits decline Read More »
Lenders are sweating out the dog days of summer as state rates continue to keep buyers at bay. Total application volume fell 3.8% last week compared to the prior seven days, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. Both purchase and refinance demand stepped back with average 30-year fixed-rate mortgage rates ticking
Cruel summer continues as rates, applications barely budge Read More »
According to Fannie Mae, 90% of buyers don’t actually know what credit score lenders are looking for, or they overestimate the minimum needed. Let that sink in. That means most homebuyers think they need better credit than they actually do – and maybe you’re one of them. And that could make you think buying a home is out of reach
What Credit Score Do You Really Need To Buy a Home? Read More »
One of the most persistent lies about U.S. economics post-COVID-19 is that Wall Street has been a major buyer of homes in America and that’s the reason home prices have escalated out of control. The role of investors in the housing market is back in the news again, but I want to look at this
Why we should be cheering for the mom-and-pop investors in the housing market Read More »
Glenn Sanford has returned to SUCCESS Enterprises as publisher and managing director. Sanford — the founder of eXp Realty and CEO of eXp World Holdings — announced the move alongside the launch of SUCCESS+, an artificial intelligence (AI)-driven global platform aimed at providing professional development and community for entrepreneurs and growth-minded individuals. “With SUCCESS+, we
Glenn Sanford returns to lead SUCCESS Enterprises Read More »
Stellar MLS — the largest multiple listing service in Florida and Puerto Rico — has launched IO Reports, a new tool that offers subscribers access to neighborhood and market insights for any address in the U.S. The new feature — provided in partnership with location intelligence company Local Logic — gives real estate professionals detailed
Stellar MLS launches market, neighborhood reports for agents Read More »
A new bill introduced in the Senate would require Fannie Mae and Freddie Mac to consider unconverted digital assets in mortgage underwriting. Sen. Cynthia Lummis (R-Wyo.) introduced the legislation, known as the 21st Century Mortgage Act, on Tuesday. S.B. 2471 is a response to a directive from Bill Pulte, the director of the Federal Housing
Senate bill would add unconverted crypto to mortgage underwriting equation Read More »
Longbridge Financial, one of the nation’s leading reverse mortgage lenders, on Tuesday announced the hiring of Azita Guzzo as its new head of technology innovation. Guzzo will fill a newly created role at Longbridge. She’s being tasked with the development of advanced technology solutions for enhanced customer service and improved operational efficiency. “Azita’s deep expertise
Longbridge hires Azita Guzzo to head up tech innovation efforts Read More »
Compass is closing out July with another acquisition. The brokerage announced Tuesday that it has acquired Charlotte, North Carolina-based independent brokerage Cottingham Chalk. The financial terms of the deal were not disclosed. The company had previously been affiliated with the Leading Real Estate Companies of the World network. “We’re proud to welcome Cottingham Chalk,” Robert
Compass acquires Charlotte-based Cottingham Chalk Read More »