Mortgages

While purchase volume is up 20% from last year, it was 5% lower than one week ago, although a 4% increase in refinance activity helped pick up the slack.

Top industry minds emphasized they're still bullish on the technology and said humans will still provide irreplaceable traits like empathy and trust.

The company's servicing valuations fell but by less than in previous quarters. Lower rates both aided production and created recapture opportunities.

Kin, a direct-to-consumer insurance provider, has started a mortgage broker in Florida which also takes loan applications through a call center or online.

The NRMLA/Riskspan Reverse Mortgage Market Index set a new high of 502.42, with the dollar amount of home equity for those 62 or over reaching $14.4 trillion.

Stenger joins the Chicago-based lender after more than a decade at Movement Mortgage and will oversee its retail platform, including new tech enhancements.

The lender, which reported over $200 million in home equity line of credit volume in the recent quarter, suggests the business can deliver massive scale.

The state court seemed open to a narrower view of the legal applicability to loans predating the statute than of broad constitutional challenges to it.

In dollar terms, the amounts consumers had to come up with increased by $500 on a consecutive quarter basis, in contrast to a $100 drop the year before.

The rollout comes as the company looks to build out offerings for originators, launching after PHH returned to the proprietary reverse-mortgage arena this year.

The appointment of the mortgage veteran comes as the lender undergoes marketing and branding pivots, including its recent name change from Nexa Mortgage.

The reduction in force affects under 1% of Rocket's team, with the decision to streamline operations made following identifying overlapping roles post-merger.

Other studies have found fewer credit pulls could be viable, but this shows millions more would be adversely impacted than in a bi-merge.

Mortgage Bankers Association economist Marina Walsh said lenders could be failing to close more loans as more consumers apply with multiple originators.

Transunion will offer the credit scoring model for $4 in 2026, following previous moves made by VantageScore partners Experian and Equifax.

Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.

Regulators also accused Southern California-based E Mortgage of failing to properly supervise remote employees and cooperate with their examinations.

While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said.

LendingTree found that during 2024, May's median price for a 1,500 square foot home was $194.20 versus January's $178.60, a difference of $23,400.

The former American Fidelity Financial Services LO helped others scam homeowners out of their loan proceeds for shoddy or nonexistent home repairs.