Left to right: Julian Hebron, Jonathan Kunkle, John Wines, Will Adams Artificial intelligence and borrower retention took center stage as 20 tech firms competed for top honors in the Innovation Challenge at Digital Mortgage 2025. New homeownership portals, voice agents and lead generation tools all may find their way onto mortgage technology stacks if they […]
Innovation Challenge 2025 spotlights AI, retention tools Read More »
Those who expected lower mortgage rates in the immediate aftermath of yesterday’s Federal Open Market Committee actions are likely disappointed with the early market response. The 10-year Treasury yield rose to 4.13% at 11 a.m. Thursday, up 5 basis points from its close at 4.08% at 3 p.m. on Wednesday, an hour after the Fed
Mortgage rates lower but full impact of FOMC not felt yet Read More »
United Wholesale Mortgage is the first major lender this year to raise its conforming loan limits in advance of the formal announcement in November by the Federal Housing Finance Agency. Even though UWM will start obtaining loans with these higher limits from mortgage brokers immediately, it will need to keep the mortgages on its balance
UWM first to raise its conforming limits for 2026 Read More »
Union Home Mortgage reached an agreement to acquire the assets of Sierra Pacific Mortgage, National Mortgage News has confirmed. Terms of the transaction were not available. The Strongsville, Ohio company headed by past Mortgage Bankers Association Chairman Bill Cosgrove has completed a number of acquisitions in recent years. “We are excited to work with such
Union Home Mortgage to acquire Sierra Pacific assets Read More »
Mortgage rates fell by a whopping 15 basis points this week, to their lowest point in almost a year, as Fed watchers are now certain a short-term rate cut is in the offing, Freddie Mac reported. The 30-year fixed rate mortgage was at 6.35% on Sept. 11, down from 6.5% one week ago, the Freddie
Mortgage rates drop further as the odds of a Fed cut rises Read More »
The headlines about potential declines in mortgage rates has consumers more inclined to become home buyers, but views on selling took a hit last month, Fannie Mae reported. Its Home Purchase Sentiment Index for August was 71.4, a 0.4 point decline from July. The only months in the past 12 which the index was lower
Buyers gain hope on rates, sellers turn cautious Read More »
Black homeowners, who already face long-term disadvantages in the housing market, are losing more ground. The Black homeownership rate fell this summer to its lowest rate since late 2021, according to Redfin. The brokerage, now a Rocket Cos. affiliate, cited annual unemployment figures, which are higher for both Black men and women than other ethnic
Black homeowners lose ground as job losses mount Read More »
As the trigger leads bill becomes a reality, lenders are considering whether its impact on the mortgage industry goes beyond simply cutting down consumer calls and texts. The restrictions regarding credit reports won’t go into effect until six months after Trump’s signature Friday. While the Homebuyers Privacy Protection Act should undercut the leads and messages
How a trigger leads crackdown could lift retention rates Read More »
Pres. Trump has signed into law H.R. 2808, the Homebuyer Privacy Protection Act, one month after the bill cleared the U.S. Senate by unanimous consent. The new law, which takes effect 180 days after enactment, has been welcomed by the mortgage industry for putting an end to the sale of trigger leads — consumer data
Pres. Trump signs mortgage trigger leads ban into law Read More »
Mortgage rates reached another 11-month low this past week, as markets are pricing in an expected short-term rate cut from the Federal Open Market Committee later this month. This follows a week where one long-term Treasury rate showed serious volatility. The 30-year Treasury bond posted a yield just shy of 5% during trading on Sept.
Mortgage rates sink with FOMC cuts on the horizon Read More »