The real estate industry is watching the brewing legal battle between two major real estate players over the way homes are listed and sold. Leading brokerage Compass filed an antitrust lawsuit last month against listing giant Zillow in a fight over exclusive property listings. It’s the latest tussle in the real estate agent space, a […]
What lenders need to know about Zillow v. Compass Read More »
Anniemac Home Mortgage is buying a small Florida-based shop, in a move that will grow its presence in the Sunshine State. Anniemac will acquire certain assets of Florida Funding, a firm based in Orlando. Since its founding in 2017, the Florida-based company has originated more than $600 million in loans, a press release claims. Details
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In a week marked by another Federal Reserve meeting, mortgage rates largely flatlined with the central bank’s decision surprising few. The average 30-year fixed rate edged down to 6.72% as of July 31, according to Freddie Mac’s weekly Primary Mortgage Market survey. The average dropped 2 basis points from 6.74% a week earlier, and was
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Homebuyers got some relief last month as they found themselves with slightly lower mortgage payments. The Mortgage Bankers Association’s Purchase Applications Payment Index fell 1.8% month-to-month, an indication that borrowers are finding their mortgages more affordable. The index measures borrower affordability by looking at new monthly mortgage payments relative to income; a decline signifies that
Average mortgage payment dips, easing buyer strain Read More »
While its two mortgage banking segments made money during the second quarter, Redwood Trust lost $100.2 million for the period, related to businesses it is winding down. This compared with net income of $14.4 million in the first quarter and $13.8 million in the second quarter of 2024. The legacy investments are now its own
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Lenders are sweating out the dog days of summer as state rates continue to keep buyers at bay. Total application volume fell 3.8% last week compared to the prior seven days, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. Both purchase and refinance demand stepped back with average 30-year fixed-rate mortgage rates ticking
Cruel summer continues as rates, applications barely budge Read More »
Two, an investor and originator/servicer, recorded anticipated expenses from a dispute with a former external manager that weighed down second-quarter earnings as it navigated secondary market disruption. The real estate investment trust and owner of Roundpoint Mortgage Servicing reported a more than $270 million net loss to common shareholders (over $257 million including preferred and
Mortgage REIT Two weathers volatility and legal costs Read More »
The rise in home equity lending should continue through the end of next year as conditions feeding current growth in the product will drive the market, a new study from the Mortgage Bankers Association has found. In 2024, the total combined HELOC and outstanding home equity loan debt grew 10.3%, according to the MBA’s 2025
Home equity products set to grow in 2025, 2026, study finds Read More »
A Newrez spinoff is temporarily off the table, as its parent company focuses on maximizing the mortgage lender’s value to support the overall business, Rithm Capital leaders said in its latest earnings call. After reproposing the idea of a Newrez public listing two years ago, company leaders said optimizing its earnings potential for Rithm would
Newrez spinoff delayed as Rithm eyes growth Read More »
In 2023, Steve Thomas started a new correspondent lender, Futurewave Finance. His three decades in the mortgage industry include servicing as the senior managing director of mortgage capital markets at the Federal Home Loan Bank of Chicago, as well as time at Fannie Mae. From his time in the FHLB system, Thomas learned that community
Why Futurewave bets on bank-focused non-QM loans Read More »