Private flood insurance use rose notably in recent years as utilization of federal coverage inched down due to adjustments to public programs that have included more latitude in the mortgage sector. Over the last four years, private coverage grew 20% while public policies the National Flood Insurance Program offers receded by 2%, according to a […]
Private flood insurance growing as federal coverage recedes Read More »
Primelending returned to the black in the second quarter, but ongoing housing market challenges look set to apply further downward pressure to the mortgage business’ bottom line, leaders of its parent company warned. Mortgage originations brought in $3.21 million of pre-tax income for Hilltop Holdings, parent company of Plainscapital Bank and Primelending, during the second
Primelending profits, but outlook still dim Read More »
Real estate and mortgage intelligence provider Ingenius announced an acquisition and integration of a new recruitment platform aimed at helping retail branch managers into its own data tools. The Pompano Beach, Florida-based technology firm welcomed the deal that combines SIMPL with Ingenius’ data software. Built by longtime mortgage sales leaders Fobby Naghmi and John Perry,
Ingenius acquires loan officer recruitment platform Read More »
Fannie Mae now projects lower mortgage rates and increased volume for this year and next, raising its home sales expectations from June. By contrast, the Mortgage Bankers Association cut its origination outlook for 2025 in its own July forecast. The MBA’s rate expectations for both this year and next, as well as the 2026 volume
Fannie Mae cuts rate forecast, raises volume outlook Read More »
Sales of new homes in the US remained weak in June as builders’ heavier use of sales incentives failed to motivate buyers put off by high costs. Contract signings on new single-family homes increased 0.6% to an annualized rate of 627,000 last month, according to government data released Thursday. That fell short of the 650,000
New-home sales remain tepid on affordability constraints Read More »
For the first time, J.D. Power is comparing trends it sees in mortgage servicer customer satisfaction scores with what’s happening on the originator side. This analysis is telling of a business going in two different directions. While the latest originator survey, released in November, found a 3-point year-over-year drop, the industry average was still a
Servicers lag originators in J.D. Power scores Read More »
Home equity investment platform Unlock Technologies announced it received a new multimillion dollar commitment to help support the expansion of its consumer financing contracts. The $250 million capital agreement with D2 Asset Management guarantees the purchase of originated products by the firm and doubles the amount of an initial deal the two companies signed last
HEI platform Unlock receives $250M in capital support Read More »
Rocket Companies announced a strategic move to sunset its credit card Wednesday, with the company opting to focus on goals to grow its homeownership platform instead. An email from Rocket Card sent to customers reveals that on September 8 the card will be discontinued. The firm said that even though it is stepping back from
Rocket to sunset its credit card, confirms 2% workforce cut Read More »
Sales of previously owned US homes fell in June to a nine-month low as potential buyers continued to bristle at record prices and high borrowing costs. Contract closings decreased 2.7% in June to an annualized rate of 3.93 million, a report from the National Association of Realtors showed Wednesday. Economists surveyed by Bloomberg expected a
Existing-home sales fall to nine-month low on record prices Read More »
Mr. Cooper Group on Tuesday recorded mixed earnings for the second quarter that fell short of matching year-ago results and consensus estimates but were considerably stronger than the bottom line in the previous fiscal period. Servicing, including a $30 million mark net of hedges, was the key driver of the second-quarter’s $198 million profit. That
Mr. Cooper profit rises with Rocket deal in focus Read More »