Share of Seriously Underwater Mortgages Increased in Q1
The share of residential properties where the homeowner is “seriously underwater” on their mortgage increased to to 2.8% of all loans in the first...
Merchants Bank Using Clarifire to Drive Greater Efficiency Across its Servicing Organization
Merchants Bank is now using Clarifire’s mortgage servicing software to streamline its loss mitigation processes.
A full-service bank with nationwide mortgage operations, Merchants Bank will...
Mortgage Fraud Risk Increased 7.3 Percent in Q1 as Buyer Desperation Kicked In
The risk of mortgage fraud increased 7.3% in the first quarter compared with a year earlier, according to Cotality’s latest National Mortgage Application Fraud...
Rithm Capital Closes $504 Million Non-QM Loan Securitization
Rithm Capital Corp. recently closed a $504 million securitization backed by a pool of non-qualified residential mortgage (non-QM) loans serviced by Rithm’s subsidiary, Newrez.
The...
Existing-Home Sales Increased Slightly in May But Remain Sluggish
Existing-home sales were at a seasonally adjusted annual rate of 4.03 million in May, an 0.8% increase compared with April but down 0.7% compared...
Mortgage Rates Dipped Again This Week
Mortgage rates decreased slightly this week, with the average rate for a 30-year, fixed-rate mortgage falling to 6.81% as of June 18, down from...
Blue Sage Integration With Freddie Mac’s LPA Paves Way for Lenders to Use Rent...
Blue Sage Solutions is partnering with Freddie Mac to empower lenders to use rent payments when approving borrowers.
Through an integration with Freddie Mac’s Loan...
First American: Annual Home Price Appreciation at Slowest Pace Since 2012
U.S. home prices increased 0.4% in May compared with April but were up only 2.1% compared with May 2024, according to First American’s latest...
FOMC Maintains Fed Funds Rate as Mortgage Rates Remain Steady
Citing that economic activity has continued to expand, unemployment remains low, and the labor market remains solid, the Federal Open Market Committee on Wednesday...
Housing Starts Plummeted to Lowest Level Since 2020 in May
Housing starts in May fell to a seasonally adjusted annual rate of 1.256 million, down 9.8% compared with April and down 4.6% compared with...
Provision in One Big Beautiful Bill is a Concern for CRE Finance Professionals
A provision in the Trump Administration’s One Big Beautiful Bill is raising concern among a wide range of U.S. business leaders, including professionals in...
Mortgage Applications Dropped 2.6 Percent Last Week Despite Lower Rates
Mortgage application volume fell 2.6% during the week ended June 13, despite a decrease in rates, according to the Mortgage Bankers Association’s (MBA) Weekly...
New Booking Platform, Visbl, is Like a ‘Search Engine for Mortgages’
Visbl is a new booking platform that simplifies the mortgage shopping experience and eliminates the privacy risks of legacy lending sites.
The fintech platform brings...
Applications for New Home Purchases Dropped in May
Applications for mortgages for new home purchases decreased 9% in May compared with April, as home buyers continued to sit on the sidelines, waiting...
Xactus’ Flood Compliance Solution Now Integrated With ICE’s MSP Loan Servicing System
Verifications solutions provider Xactus is moving into mortgage servicing and, as a step in that direction, has integrated its automated flood compliance solution with...
PHH Mortgage Expands its Partnership With Blend
PHH Mortgage, one of the largest mortgage servicers in the U.S. and a subsidiary of Onity Group Inc., is expanding its partnership with Blend...
Redfin: Typical Downpayment on a Home Purchase Shrank Slightly as of April
Despite rising home prices, the typical U.S. homebuyer’s down payment shrunk by 1% in April compared with a year ago, according to a report...
Optimal Blue: Total Mortgage Lock Volume Fell 5.87 Percent in May
Total mortgage rate lock volume decreased 5.87% in May compared with April, as mortgage rates remained stubbornly high, according to Optimal Blue’s Market Advantage...
Planet Financial Group Closes $125 Million Senior Unsecured Notes Add-On Deal
Planet Financial Group reports that it has successfully closed an offering of $125 million add-on to its existing $475 million 10.5% senior unsecured notes...
Mortgage Rates Calm Following Encouraging CPI Data
Mortgage rates were basically flat this week, with the average rate for a 30-year, fixed-rate mortgage at 6.84%, down slightly from last week when...