Fairway Home Mortgage is working with OpenAI to help improve the efficiency in its loan manufacturing processes. While the use of ChatGPT is just part of that strategy, process improvement to allow loan officers to focus more on their customers is the primary aim, said Caleb Ondrusek, who Fairway promoted to executive vice president of […]
Fairway turns to OpenAI for origination process improvement Read More »
Treasuries rose, led by short-dated notes, after a reading on wholesale inflation came in weaker than expected, cementing bets that the Federal Reserve will start to cut interest rates next week. The yield on two-year notes, which closely track expected moves by the Fed, fell as much as four basis points to 3.52%, while the
Treasuries gain as wholesale inflation unexpectedly declines Read More »
Recent mortgage fraud discussions have been centered on high-profile occupancy misrepresentation cases, but the bigger question is how these claims can be proven and what level of risk they pose to the industry. For one, the allegations to date, such as a Trump administration criminal referral that a Federal Reserve Board member is fighting, typically
Occupancy fraud scrutiny raises questions for lenders Read More »
US mortgage rates declined last week to an almost one-year low, sparking a surge in refinancing activity and encouraging prospective buyers to step off the sidelines. The contract rate on a 30-year mortgage fell 15 basis points to 6.49% in the week ended Sept. 5, according to Mortgage Bankers Association data released Wednesday. Rates on
US mortgage rates at 11-month low rekindle home finance activity Read More »
You’ve been waiting for what feels like forever for mortgage rates to finally budge. And last week, they did – in a big way. On Friday, September 5th, the average 30-year fixed mortgage rate fell to the lowest level since October 2024. It was the biggest one-day decline in over a year. What Sparked the
Mortgage Rates Just Saw Their Biggest Drop in a Year Read More »
The number of consumers whose rent payments are reported to credit reporting agencies rose to 13% in 2025, according to TransUnion‘s latest Rent Payment Reporting analysis, released on Wednesday. That number is up from 11% in 2024. In a press release, the company suggested that this trend may gain momentum after the July 2025 directive
Consumers are increasingly self-reporting rent payments, TransUnion says Read More »
Lower mortgage rates prompted mortgage applications to increase 9.2% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending Sept. 5. Last week’s results include an adjustment for the Labor Day holiday. On an unadjusted basis, the index decreased 3% compared with the previous
Mortgage applications jump nearly 10% as rates drop Read More »
Consumers shopping for a home on Zillow can now virtually stage properties in their specific design style, as long as those properties are using Zillow Showcase. The listing portal giant announced the integration of Virtual Staging with Zillow Showcase on Wednesday. The integration enables homebuyers using Zillow to view rooms — in listings that are
‘Zillow, show me this house with mid-mod furniture’ Read More »
The facts uncovered in fraud investigations are often shocking, revealing stories of both tragedy and comedy. And those stories inform how we help our clients to navigate the landscape of risk, regulation, and management. Stories about occupancy fraud, until very recently, never made the news. Then in the Spring of 2024, a top producing loan
Occupancy fraud: Not as simple as you think Read More »
A federal judge blocked President Donald Trump’s effort to fire Federal Reserve Governor Lisa Cook, granting Cook’s request for a preliminary injunction on Tuesday evening. In her ruling, Judge Jia Cobb said that Trump’s reasons for removing Cook did not meet the standard for sufficient cause, noting the alleged conduct occurred before her tenure as
Federal judge blocks Trump’s attempt to fire Lisa Cook Read More »