Mortgages

The company aims to use the additional capacity to get its non-qualified mortgage business back to producing $125 million per month, and anticipates more purchases of mortgage servicing rights, representatives said in its Q1 earnings call.

United Wholesale Mortgage set off a brawl in the press when it forbade brokers from doing business with Rocket and Fairway. As a small group of brokers pursue legal action over the ultimatum, experts weigh in on whether the spat is benefiting the wholesale channel.

Scrolling Zillow has become a go-to activity for Americans stuck at home pondering real estate upgrades as low interest rates and a shortage of homes to buy fuel the pandemic housing market.

Residential value growth in March reached heights not seen since the lead up to the housing bubble, according to CoreLogic.

After the spinoff and a concurrent private sale to Bayview Asset Management, Genworth Financial will still own 80% of the rebranded Enact.

Loans bought on the secondary market have become increasingly important as borrower demand has ebbed and companies have sought to obtain mortgages through additional outlets to maintain production levels.

Short-term late payment rates rose again and later stage delinquencies remain at elevated levels compared to those prior to the pandemic, the Mortgage Bankers Association said.

An economic rebound, stimulus payments and COVID-19 vaccinations contributed to new delinquencies dropping to an all-time monthly low with more recovery ahead, according to Black Knight.

The unusually strong production numbers seen in the first quarter of this year show loanDepot is emerging as a contender in the battle for loan volume and market share amid an industry price war.

The complaint exemplifies the Department of Housing and Urban Development’s focus on “fair servicing” in addition to fair lending.

The mortgage insurance business had adjusted operating income of $126 million in the first quarter, down from $148 million one year ago.

Hedge accounting will align Fannie’s reporting with competitor Freddie Mac, and will address a mismatch between the recorded value of financial instruments used to offset interest-rate volatility on mortgages and the loans themselves.

As consumers search for homebuying advantages, local lenders discuss the 12 metro areas where it’s more affordable to purchase a property rather than rent a comparable house, according to Realtor.com data.

Mom-and-pop residential real estate investors are seeing more competition from citizens looking to buy homes than from their traditional competitors, large public institutional investors, according to a new survey from real estate data firm RealtyTrac.

Kerry Killinger, former CEO of Washington Mutual, says the asset bubbles and increased consumer debt that contributed to his company's failure are reappearing.

The West Palm Beach, Fla.-based lender sees an opportunity for even more growth after its deal to acquire a servicing portfolio from Texas Capital Bank.

The company says its first quarter net income nearly doubled from its showing in Q4 2020, due in part to cost-cutting and servicing income. It also revealed more information about unauthorized payment drafts by its vendor.

Depressed Treasury yields have kept mortgage rates under 3% recently, but positive economic news could indicate larger increases will follow this week’s uptick.

Only $89 billion of the $362 billion in new single-family volume came from purchase mortgages.

“Low inventory has been a consistent problem,” Lawrence Yun, chief economist at the NAR, said in a statement. “With mortgage rates still very close to record lows and a solid job recovery underway, demand will likely remain high.”