Origination

The National Association of Home Builders/Wells Fargo index of housing market conditions fell by 6 points to 45 in May, the lowest level since the start of the year.

Refinance activity jumped for a second week, as interest rates trended downwards, the Mortgage Bankers Association found.

The total compensation of the highest paid CEO among the largest nonbank mortgage lenders in the country was $30.3 million in 2023, up by nearly 300% versus 2022.

The number of borrowers who are at their credit limits is approaching its pre-pandemic level, and the percentage of balances that are sliding into delinquency has hit its highest rate in more than a decade, according to new research. Still, card companies are generally expressing optimism about their credit outlooks.

Radian joins existing shareholders in the new financing, which adds to a Series A round of $19.8 million conducted in 2020.

Coming off of what was considered a weak start to the spring season, mortgage applications for newly built homes rose 22% over the prior year, the Mortgage Bankers Association said.

The digital lender increased its marketing spend in the first quarter of 2024, with the ultimate goal of "Uber-izing the loan officer."

Home lenders are taking a hard look at fulfillment compensation due to persistent profitability strains while keeping in mind growing compliance considerations.

Rocket Mortgage entered into an agreement with the Department of Housing and Urban Development and will pay the consumers $65,000 to resolve the matter.

The digital lender also agreed with a former executive to drop her lawsuit accusing the company of misleading investors.