Apply Online
Schedule a Call

Industry News

refinancing words on notebook

Mortgage applications’ meager gains contrast previous spike

Industry News, Mortgage applications, Originations /

Adobe Stock Application gains slowed to a crawl last week after soaring earlier as fixed rates that dominate the market experienced a more subdued decline. Mortgage applications increased 0.6% following a 29.7% jump for the week ending Sept. 12, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. On an unadjusted basis, volume increased […]

Mortgage applications’ meager gains contrast previous spike Read More »

Loandepot slams accusations of steering borrowers

Industry News, Law and legal issues /

Loandepot pushed back against a lawsuit accusing it of violating the loan officer compensation rule, alleging the court case is full of threadbare allegations.  Five borrowers sued the lender in July, claiming they were steered to higher rates via a long-running scheme in which loan officers who did not participate faced punishment. The megalender this

Loandepot slams accusations of steering borrowers Read More »

Mike_Hutchins.jpg

Freddie Mac appoints financial attorney as general counsel

Career moves, GSEs, Industry News, The Great American Mortgage Corporation /

Freddie Mac announced the appointment of a new general counsel, whose hiring comes amid ongoing speculation about the future of the government-sponsored enterprises.  The GSE this week named Matthew D. Abrusci executive vice president, general counsel and corporate secretary. With a career across banking, capital markets and securities law, Abrusci joins Freddie Mac after recently

Freddie Mac appoints financial attorney as general counsel Read More »

Oceanfirst announces mortgage exit, partners with Embrace

Consumer banking, Industry News, New Jersey, Originations /

New Jersey’s Oceanfirst Bank is ceasing mortgage operations later this year, choosing to instead embark on a new nonbank partnership to serve its customers with home lending needs. The “strategic decision” will pair Oceanfirst with Embrace Home Loans, a deal that is set to begin in the fourth quarter this year, bank officials said.  “The

Oceanfirst announces mortgage exit, partners with Embrace Read More »

Real estate sign in front of a house for sale in a nice suburban

Summer clocks in strongest buyer’s market in years

Housing markets, Industry News, Mortgage Rates, Redfin /

Adobe Stock This summer marked the strongest buyer’s market for housing in over a decade, according to new industry data. There were 35.2%, or about 506,000, more sellers than buyers in the housing market last month, a new report from Redfin shows. June and July were the only months in records dating back to 2013

Summer clocks in strongest buyer’s market in years Read More »

pennymacWEB1.jpg

Pennymac, like UWM, raising its conforming loan limits early

Industry News, Originations /

Pennymac is raising its conforming loan limits, effective immediately, ahead of the Federal Housing Finance Agency’s official announcement in November. The increase of nearly $13,000 for single units comes a day after United Wholesale Mortgage hiked its conforming limits, becoming the first major lender to do so in this market cycle. “By getting ahead of

Pennymac, like UWM, raising its conforming loan limits early Read More »

New York, USA - 30 August 2024: Guaranteed Rate Logo on Phone Screen, Company Icon on Display

Large mortgage lender launches mobile app in Spanish

Industry News, Servicing /

Adobe Stock Rate, a large conventional mortgage lender, launched a Spanish language version of its Rate App Thursday to better serve Latino customers.  The release enhances the company’s Language Access Program, as Rate has seen more than 20,000 digital mortgage applications from Spanish-speaking customers since the program started in 2022. The move encourages Spanish-speaking borrowers

Large mortgage lender launches mobile app in Spanish Read More »

CrossCountry Mortgage sign

CrossCountry to expand asset management arm

Industry News, Servicing /

CrossCountry HoldCo, the parent company of a large retail mortgage company, will expand its asset management arm through partnerships with an Ares Alternative Credit fund and Hildene Capital Management, among others. The asset management unit, CrossCountry Capital, will also expand its non-qualified mortgage investment platform and add complementary asset classes, such as residential transition loans,

CrossCountry to expand asset management arm Read More »

What you missed from day two at Digital Mortgage

Artificial Intelligence, Industry News, Mortgage technology, Originations /

The industry’s top technology minds at the National Mortgage News Digital Mortgage Conference in San Diego Wednesday urged mortgage firms to integrate artificial intelligence into their organizations peacefully, or else.  Whereas top lenders on day one urged firms to maintain a human touch, tech lenders on day two advised competitors to get their entire staff

What you missed from day two at Digital Mortgage Read More »