Freddie Mac will dip a $2.5B toe into the second mortgage market
Modest pilot program approved by federal regulators was opposed by banks who have traditionally provided most home equity loans, but nonbank lenders have already made inroads
by Matt Carter Jun 25
'Not warranted': DOJ pushes back against NAR rehearing request
The US Department of Justice on Monday argued NAR 'does not identify any errors of law or fact meriting panel rehearing' over whether the antitrust enforcer can reopen its probe into NAR rules
Legislation takes aim at hedge fund landlords — but challenges remain
Introduced in December, the 'End Hedge Fund Control of American Homes Act' has stalled but seeks to deter large investors from gobbling up single-family homes. Critics say it's misguided
by Ben Verde Jun 18
UWM's 0-down loans a hit with buyers, worry consumer advocates
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
by Matt Carter Jun 4
Bank launches Spanish website in wake of redlining settlement
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
by Matt Carter May 30
Cap on servicer fees for FHA loan assumptions doubled to $1,800
While the Community Home Lenders of America welcomed the increase, it might benefit homebuyers as well, by giving loan servicers more incentive to process FHA loan assumptions
by Matt Carter May 22
UWM expands program that dispenses with title insurance
Nation's largest mortgage lender says brokers 'will no longer need to work with a title company or settlement agent for title work, balancing fees, scheduling closing or any related communication'
by Matt Carter May 17
Ocwen agrees to settle decade-long suit over BPO, valuation fees
Up to 330,377 homeowners from whom Ocwen collected mortgage payments between 2010 and 2017 could be eligible to claim refunds of $60 per broker price opinion and $70 per hybrid valuation
by Matt Carter Apr 30
Top New Jersey loan mortgage originator charged with fraud
Mortgage fraud scheme allegedly listed investors as homeowners to secure lower interest rates, prosecutors allege in criminal complaint against 'Team Gallo' leader and his assistant
by Matt Carter Apr 26
Lamacchia: 'Nothing's changed' about mortgage commission rules
Anthony Lamacchia thinks some agents are reading too much into guidance issued by Fannie and Freddie confirming that sellers can continue to pay buyer's agents' commissions
by Matt Carter Apr 22
Industry gets some clarity on mortgage commission rules
Fannie, Freddie and FHA say sellers can continue to pay commissions to buyer's agents. But what if buyers want to pay their agent themselves and finance it into their mortgage?
by Matt Carter Apr 17
Mat Ishbia
Hunterbrook Media founder dismisses Ishbia's take as 'baseless conspiracy theory'; Rocket says it and founder Dan Gilbert have no financial interests or relationship to hedge fund
by Matt Carter Apr 5
Nation's largest mortgage lender shorted by Park Avenue hedge fund
United Wholesale Mortgage denied explosive allegations that many mortgage brokers who send it business aren't shopping around for best deals. UWM dismissed a related lawsuit as 'a sham'
by Matt Carter Apr 3
LoanDepot settles high-profile appraisal bias lawsuit filed in 2022
Lender revises appraisal policies and practices in wake of lawsuit by Baltimore couple who claimed their home was undervalued by more than $250,000 because they were Black
by Matt Carter Mar 27
Congress grants National Flood Insurance Program a reprieve
The $1.2T funding bill passed by the House Friday averts a partial government shutdown and extends a critical program that protects 4.7M homes through the end of September
by Matt Carter Mar 22
NAR settlement may disrupt mortgage partner agent programs
If homebuyers are no longer willing to pay full commissions to agents, what happens to lender programs that incentivize consumers to work with partner real estate agents?
by Matt Carter Mar 18