Mortgages

The steady pace of refinance activity has also continued, as borrowers seek to take advantage of sub-3% rates.

The ongoing CARES Act foreclosure moratoria may have led to distressed borrowers abandoning their homes, according to Attom Data Solutions.

Rather than completing another equity raise, the five-year-old mortgage technology company went looking for a partner.

Nonprofits connecting Historically Black Colleges and Universities to mortgage career education courses seek to increase the number of Black professionals in the field, who in turn may help to increase homeownership among underserved populations.

Average days to close dropped closer to pre-pandemic levels in April, according to ICE Mortgage Technology.

The company, on the cusp of going public via a merger, recently added Wells Fargo to its client roster.

While purchases increased, refinancing activity slowed considerably compared to its pace over the past month.

Purchase contracts for the three months through April surged 85% from a year earlier to 3,487, the builder said in a statement after the close of trading Tuesday.

While elevated prices are acting as brake on demand, mortgage rates near historic lows and elevated backlogs suggest steady residential construction gains in coming months that will help contribute to economic growth.

The cloud-based mortgage closing platform’s Series D round earned $150 million for the company.

The deal adds to the burgeoning technology stack at the Houston-based title underwriter, which added NotaryCam in December.

Garg discusses how Better plans to maintain growth in a volatile market in an exclusive interview.

Estimates suggest the government-sponsored enterprises did encourage increased lending to this demographic last year but ran into challenges related to the pandemic's impact and their own fluctuating business models.

The transaction goes a long way toward the company’s goal to amass MSRs with a total unpaid principal balance of up to $150 billion.

Nationally, the S&P CoreLogic Case-Shiller index of property values climbed 13.2% in March, the biggest gain since December 2005. That came after a jump of 12% in February.

Unlike fix-and-flip investors, who take title to homes, renovate them and put them back on the market, wholesalers typically negotiate with homeowners just to put homes under contract and sell those contracts to flippers.

While last year’s high valuations protected the wealth embedded in consumer residences, a new report suggests that they can also be an indication of rising risk.

Reviving a long-dormant loan guarantee program could go a long way toward restocking the supply of starter homes and helping households of modest means create wealth, writes the President and CEO of University Bank.

Also: Delinquencies drop, rates rise and Senate debates flood insurance reform — again

The CFPB missives are an early and unmistakable warning that the era of COVID-19 flexibility is over, write two partners and a law clerk from Buckley LLP.