Like most of its publicly traded peers, Home Point Capital, the parent company of wholesale lender Homepoint, shrank in 2022 to adapt to a shrinking mortgage market. But its cost-cutting initiatives were not enough to return the lender to profitability. The possibility of Home Point being sold isn’t out of the
The Federal Housing Administration (FHA) announced this week that a final rule related to an increased 40-year loan modification term has been published in the Federal Register. The rule allows mortgagees to increase the maximum term of an FHA-insured mortgage loan modification from 360 to 480 months following a default.
Sales shot up in Beijing, Shanghai and Shenzhen in February as buyers shrugged off hesitancy, with the lived-in market proving particularly hot.
The Consumer Financial Protection Bureau (CFPB) on Wednesday released a special edition of its Supervisory Highlights report that profiles “unlawful junk fees uncovered in deposit accounts and in multiple loan servicing markets,” including among mortgage servicers. “For years, junk fees have been creeping across the economy,” said CFPB Director Rohit
Homebuyers and sellers are being cautious due to current market conditions, as indicated by Fannie Mae‘s home purchase sentiment index (HPSI). The HPSI — which tracks the housing market and consumer confidence to sell or buy a home — decreased 3.6 points in February to 58.0, breaking a streak of
As expected, California-based mortgage lender loanDepot reported another unprofitable period in the fourth quarter of 2022, its third consecutive quarterly loss. The red ink resulted from declining mortgage production and came despite the company’s decision to exit the wholesale channel, trim its workforce, and invest in new products. The rough Q4 underscores the fact that
Ohio-headquartered Park National Bank will pay $9 million under a settlement with the U.S. Department of Justice (DOJ) to resolve allegations that it discriminated against Black and Hispanic neighborhoods in the Columbus area. The complaint, filed in federal court in the U.S. District Court for the Southern District of Ohio
Chicago-headquartered lender Guaranteed Rate has expanded its program to approve loans within 24 hours nationwide. Dubbed the “Same Day Mortgage,” the program is aimed at giving a competitive edge to first-time buyers who are competing against the all-cash buyers who make up 28% of home purchases, the lender said. The
The Washington State House of Representatives this week passed a bill that would ban single-family zoning statewide if passed by the Senate and signed into law by Gov. Jay Inslee, according to the Seattle Times and state legislative filings. Proponents argue that HB 1110 would increase the density of housing
It’s counterintuitive but real: Despite surging mortgage rates, borrowers’ demand for home loans rose last week. There were very low levels of mortgage applications in the weeks prior to the surprising uptick. However, a surge in demand for government loans and adjustable-rate mortgages (ARMs) played a role in last week’s
The 2023 mortgage industry merger-and acquisition wave has hit New Jersey. Two lenders based in the state are negotiating a deal: AnnieMac is in talks to acquire Family First Funding, according to former employees and business partners. More merger and acquisition deals are expected to happen as mortgage rates surge
As the housing market cooled further during the fourth quarter of 2022, homebuilders also continued to pull back on single-family construction. In Q4 2022, the year over year growth rate for single family construction fell across all geographic areas, according to the National Association of Home Builder’s (NAHB) Home Builder’s
Meridian Listing Agent Kevin Harper Says Idaho Real Estate Market Stronger Than Many Expected
Lake & Town Realty Partners With Real Estate Portal Lakefront Living Realty LLC
Reseller Hosting Provider Launches White Label Webhosting Education Campaign For Freelancers
Ohio Investment Real Estate Broker Launches New Property Search Website
Zillow News Truth Delta: Opinion & Editorial