Home lending credit reversed course following a one-month dip, with availability returning to the upside even as conforming product offerings declined in July, according to the Mortgage Bankers Association. The MBA’s credit availability index edged up 0.2% month over month to a reading of 103.9. The score rose from 103.7 in June, which was the […]
Jumbos, ARMs drive uptick in credit availability Read More »
Private mortgage insurers wrote just 2% more new business on a year-over-year basis in the second quarter, but market share shifts widened the spread between the six underwriters. The industry-wide market share gap was 1.7 percentage points for both the second quarter 2024 and first quarter of 2025, according to data from Keefe, Bruyette &
Private MI market share gaps widen in Q2 Read More »
The disappointing spring home purchase season influenced the second quarter results of the publicly traded title insurance underwriters. Certain metrics were strong, with pretax title margins at three of the companies’ showing significant gains versus the second quarter. Stewart was up 630 basis points, First American reported a 530 basis point rise and Fidelity National
Title insurers see margins rise, sales still weak Read More »
Freddie Mac has expanded its program for loans on real-property factory-built homes that have features in common with traditional houses like pitched roofs, attached garages and permanent foundations. The government-sponsored enterprise said it is now buying single-section CrossMod homes loans for the first time, making it possible for borrowers to get reduced rates for housing
Why there’s renewed interest in financing factory-built homes Read More »
A takeaway from Blend Labs’ latest earnings is that, although it’s growing consumer banking broadly, the mortgage operations are the biggest investment theme in the short term, Keefe, Bruyette & Woods said. “The company’s expansion into consumer banking adds a new growth vector that should be synergistic with Blend’s mortgage client roster and positions the
Blend ‘turns corner’ and reduces GAAP losses in 2Q25 Read More »
Loandepot has elevated two executives as it makes changes to its sales and originations divisions, part of an ongoing effort to return to profitability in the wake of disappointing second quarter results this week. Tom Fiddler is stepping up to take on the newly-created position of president of retail lending. Fiddler, who previously oversaw loan
Loandepot shuffles leadership in search for profit Read More »
Guild Mortgage saw profits and business volume return to the upside in the second quarter in one of its final earnings reports issued as a publicly traded company. The San Diego-based lender and servicer posted net income of $18.7 million for the three-month period, improving from a $23.9 million loss at the end of the
Guild swings to profit ahead of privatization deal Read More »
A California judge declined to give class action certification to a suit lodged three years prior accusing Wells Fargo of discriminatory practices. In an order dated Aug. 5, U.S. District Judge James Donato, wrote that there is no “glue” to hold together the plaintiffs’ claims to justify the granting of class status. Over 100,000 plaintiffs
Judge nixes class action bid in Wells Fargo redlining case Read More »
A surprising July jobs report, which included downward revisions to early 2025 data, drove mortgage rates to their lowest mark in months, Freddie Mac reported. The 30-year fixed-rate average decreased to 6.63% as of Aug. 7, according to the government-sponsored enterprise’s weekly Primary Mortgage Market survey. The average dropped 9 basis points from 6.72% in
Mortgage rates drop to lowest level this summer Read More »
UWM Holdings CEO Mat Ishbia’s new target for mortgage broker originations share is for them to do over half of production. On the company’s earnings call, he cited statistics giving the current broker share at 30%. “Our goal is for brokers to be No. 1,” Ishbia said. “In my mind, that means 50.1%; I don’t
UWM aims for broker-majority market amid 300% profit surge Read More »