HUD issues guidance on mortgage advertising; UWM expands title services for brokers; Freedom issues debt; Incenter offers review services for taxes and insurance; most housing inventory in Florida, Texas.
A recent Fannie Mae study found that lenders are concerned about the lack of competition and rising prices of technology service providers’ solutions in the mortgage industry.
Figure Technology Solutions is offering its Digital Asset Registration Technologies registry to partners of Figure Lending to use for home equity lines of credit.
Flexible nonbanks weathering the storm; layoffs continue at mortgage companies; tepid demand for mortgages on new homes; best execution analysis; Rocket preps AI offering; Equifax boosts mortgage-related revenue.
The mortgage process met or exceeded the expectations of many homebuyers; interest rates look to be too high for potential homebuyers; the defect rate on mortgages declined again; tech vendor raises $19 million; Altisource Asset Management exits mortgage market.
Two large nonbank retail lenders took losses in the fourth quarter, with officials stressing that better days are ahead. Guild is growing through M&A while loanDepot is reducing its staffing.
Lenders look to remote online notarization; Ocrolus offers rep-and-warrant coverage for income calculations; ICE offers tool to facilitate reconsiderations of appraisals; Planet Home launches products to help borrowers compete with cash offers; property insurance costs rise nearly 20%; Flagstar plans tech accelerator program; disconnect on homebuyers’ plans and saving for a downpayment.
Cyberattack will cost loanDepot at least $12 million; average borrower has nearly $300,000 in home equity; home prices overvalued across the country; MSR gain some value; new servicing platform from Sagent; MCT offers TBA pricing indicators; lender launches real estate platform.
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