Builder confidence jumps, despite crazy lumber prices

Builder confidence rose one point to 83 for newly built single-family homes in April, according to the latest National Association of Home Builders (NAHB) and Wells Fargo Housing Market Index (HMI) report. Builder confidence has not risen above 84 so far in 2021, after reaching 90 in November and falling

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Mortgage rates move down to 3.04%

The average U.S. mortgage rate fell for the second consecutive week, down nine basis points to 3.04%, according to Freddie Mac’s Primary Mortgage Market Survey. Despite rates mirroring mid-march levels, Sam Khater, Freddie Mac’s chief economist, doesn’t expect them to hold. “The economy is improving on the demand side and on the

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Warren Buffett’s boring, dominant resi brokerage

Gino Blefari, Berkshire Hathaway HomeServices of America CEO and chairman Gino Blefari is a pretty colorful character. The Berkshire Hathaway HomeServices of America CEO and chairman of Berkshire’s franchise network, HSF Affiliates, calls money “dough,” and is fond of tangents – like describing the initial reporting on the JFK assassination,

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RoundPoint revs up retail operations with new leadership

RoundPoint Mortgage has added three new senior executives to its management team, as it prepares to ramp up its retail operations. The mortgage subservicer’s board of directors appointed Patrick McEnerney as chief executive officer. McEnerney was a managing director at Deutsche Bank for 14 years before Freedom Mortgage brought him

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Homepoint lures another Fannie Mae executive

By the time Homepoint is done, there may not be anyone left in the corner offices at Fannie Mae. The wholesale mortgage originator and servicer announced Wednesday that it had hired yet another longtime mortgage executive at Fannie Mae, its third big poach from the GSE this year. Noelle Lipscomb,

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RON isn’t the miracle answer to all our questions

The push to further digitize the mortgage process gained added traction amid the COVID-19 pandemic, with lockdowns forcing the mortgage industry to adopt new technologies it has otherwise been slow to embrace. Remote Online Notarizations form part of that digital transformation, naturally. However, the role RON will play in the

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Weather, disaster protection costing homeowners

Homeowners are spending money to battle the effects of weather and climate change on their properties, a new Redfin survey showed, with some allocating more than $5,000 to protect against events like extreme temperatures and flooding. Approximately 60% of 1,200 surveyed homeowners said they have invested in making their homes

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The machine that’s coming for the robots

Last year, the market’s wish for record-setting volume was granted – but at a cost. The only way to capture that volume was to hire, hire and then hire some more. Outsourcers were at capacity and talent pools quickly drained.  Those available were able to command record-setting compensation. Mortgage lenders

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JPMorgan Chase’s mortgage margins narrow in Q1

JPMorgan Chase increased originations by 21% over the fourth quarter of 2020, but compressed margins ate away at the bank’s mortgage profits in the first quarter of 2021. The New York-headquartered bank originated $39.3 billion in home loans during the first quarter, a big jump from the $32.5 billion originated

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Sprout Mortgage shakes up executive suite

Non-QM lender Sprout Mortgage has brought on Infosys‘s chief information officer and global director of real estate finance solutions, Henry Santos, as its own CIO and executive vice president, the company announced Tuesday. Santos had served at Infosys for two years before his latest appointment, and previously served as the

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NewRez to acquire Caliber in $1.7B deal

Acquisitions-hungry New Residential Investment Corp. (NewRez) has agreed to acquire multichannel lender Caliber Home Loans in a deal valued at $1.675 billion, the firms announced on Wednesday. The agreement with NewRez, a publicly traded mortgage REIT, comes roughly six months after Lone Star Funds attempted to take Caliber public. Since

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