Fathom Holdings beefs up title coverage in 3 states with 'strategic addition' to geographic footprint by acquiring 9-person title agency with offices in Utah, Colorado and Virginia
Purchase loan applications have surged for 2 weeks in a row, but rates for conforming mortgages are inching back up toward 7% this week as investors weigh the odds of Fed rate cuts
NFM Lending is the first to take advantage of Knock API integrations, which let loan officers know if homebuyers can tap the equity in their existing home and buy before they sell
Card issuer Wells Fargo is losing as much as $10M a month as it eats interchange fees for users who are paying off balances after paying their rent, 'The Wall Street Journal' reports
Key Fed inflation metric expected to drop June 28 following unexpected decline in May wholesale prices and jump in weekly jobless claims to 242K workers, highest level since August 2023
Policymakers now envision making just one rate cut this year, but investors who fund most mortgages are still betting the central bank will change its tune if inflation continues to ease
Rates have returned to last week's levels, when applications for purchase loans leapt by 9% from the week before and refi applications surged by 28%, MBA lender survey shows
Pending layoffs of 420 Newrez employees in Colorado and 53 workers in Florida follow $1.4B in acquisitions as parent company Rithm seeks to diversify beyond mortgage lending
Cash-offer pioneer Flyhomes will partner with agents to expand nationwide after acquiring AI technology from ZeroDown and hiring co-founders Laks Srini and Abhijeet Dwivedi
Elevated mortgage rates and home prices are creating challenges for many homebuyers, and 86% said May was a bad time to buy — a new high in Fannie Mae surveys dating to 2010
Employers added 272,000 jobs in May, far exceeding the consensus view among economists that payrolls would rise by 180,000 and the average of 232,000 over the past year
In bankruptcy court, the Huntsville, Alabama-based mortgage lender says it plans to repay creditors by claiming more than $20M in tax credits, clawing back $1M from warehouse lenders
In less than a week, a series of reports has changed the outlook for the timing and magnitude of future Fed rate cuts, sending mortgage rates into a 5-day tailspin back below 7%
Unlike subprime loans that were subjected to minimal underwriting standards in the runup to the 2007 housing crash, new 0-down loans meet criteria set by mortgage giant Freddie Mac
Mortgage rates have some room to come back down in June after PCE price index shows annual inflation easing to 2.65% in April, and Q1 2024 GDP growth revised downward to 1.3%
Washington Trust denied allegations leveled by the Justice Department last fall, but agreed to invest at least $9M to improve access to mortgage credit in minority neighborhoods
As rates on conventional mortgages head back above 7%, homebuyer demand for purchase loans is wilting, with applications dropping for a 3rd week in a row last week, MBA survey finds
Rocket Homes Chief Technology Officer John Fair told Inman the tool has already resulted in users spending nearly twice as long on the lender's website and returning 6 times more frequently
Homeowners can't sell a primary residence through Xome's seller portal without a listing agent, but they're welcome to hire an agent on their own or ask Xome to match them with one
Bond market investors shrug off Federal Reserve Governor Christopher Waller's warning that he wants to see 'several more months of good inflation data' before cutting rates
