Mortgage application volume declined for the second week in a row, as a small rise in rates put a damper on refinance activity, the Mortgage Bankers Association said. The Market Composite Index decreased by 1.4% on a seasonally adjusted basis for the period ended Aug. 15. The refinance component was down by 3%, although versus […]
Higher mortgage rates slow refi application volume Read More »
The oversight agency for two government-sponsored enterprises greenlighted plans for industry giant Rocket Cos. to buy megaservicer Mr. Cooper, but only under certain conditions. Fannie Mae and Freddie Mac’s regulator will require the new combined company to have “appropriate financial and operating safeguards.” Their regulator specifically is requiring them to each maintain “strict counterparty risk
GSEs’ regulator allows Rocket-Mr. Cooper combo with caveats Read More »
Now that the market is slowing down, homeowners who haven’t sold at the price they were hoping for are increasingly pulling their homes off the market. According to the latest data from Realtor.com, the number of homeowners taking their homes off the market is up 38% since the start of this year and 48% since
History Shows the Housing Market Always Recovers Read More »
Lenders like Rocket Mortgage and UWM have reshaped the mortgage industry. Their massive tech stacks and national footprints allow them to manufacture loans at incredible speed and scale. The rest of the industry has responded by layering automation onto existing workflows in an attempt to keep pace. But the challenge isn’t just about speed. It’s
Everything everywhere all at once: The end of the assembly line in mortgage lending Read More »
As consumer debt surpasses $18 trillion in early 2025, the need for effective and ethical consumer debt reduction solutions has never been more urgent. Both nonprofit and for-profit models offer pathways to financial recovery, but they’re just part of a broader landscape. For real estate agents, mortgage lenders, brokers, and fintech innovators, understanding the full spectrum of
Let’s be real: the last two years have been brutal for a lot of people in our industry. Production’s down. Pipelines are tighter. Good people have left. But if you’re reading this, you’re still here. And that means something. It means this isn’t just a job to you…it’s your business. Your calling. Your legacy.And you’re
Loan originators, you’re still here. That means something. Read More »
President Donald Trump’s unprecedented and escalating attack on the Federal Reserve runs the risk of backfiring by hitting financial markets and the economy with higher long-term borrowing costs. For weeks, he has lambasted Chair Jerome Powell for not slashing interest rates deeply to stimulate the economy and — as Trump sees it — lower the
Trump’s Fed gamble risks pushing key bond rates even higher Read More »
President Trump’s attempt to fire Federal Reserve Governor Lisa Cook over mortgage fraud allegations has been called part of a larger crackdown, which suggests there could be value in looking at potential changes it points to for lenders. Housing regulator Bill Pulte has claimed alleged fraud findings like Cook’s are not political, in contrast to
Cook allegations suggests new mortgage fraud priorities Read More »
The Federal Housing Finance Agency (FHFA) said Tuesday it has allowed Fannie Mae and Freddie Mac to approve Rocket Companies’ planned acquisition of Mr. Cooper Group, noting the combined company should not exceed a 20% counterparty risk limit set for the government-sponsored enterprises (GSEs). Detroit-based Rocket announced in March that it would acquire Mr. Cooper
FHFA clears Rocket’s $9.4B acquisition of Mr. Cooper, with safeguards Read More »
The Local Initiatives Support Corp. (LISC) has appointed Valerie White to lead its national housing team — expanding her role beyond her current position as senior executive director of LISC New York. White will oversee the organization’s national housing investments — which total $30.4 billion to date — with a focus on expanding access to
LISC appoints Valerie White to lead national housing strategy Read More »