Demand from borrowers increases when mortgage rates fall below 6.5%, according to Owen Lee, CEO of Success Mortgage Partners. Due to policies from the Trump administration, it’s unclear whether rates will decline to that level in the near term.
Fitch Ratings warned that it could downgrade its corporate rating on Rocket following the company’s planned acquisition of Mr. Cooper. Rocket’s corporate leverage looks poised to increase.
The founder of Rocket Companies could see $571.9 million in tax benefits triggered by the company’s planned acquisition of Mr. Cooper; legislation in the House would set standards for remote online notarization; new company offering NMLS-approved education.
Better is touting investments in artificial intelligence to help slash costs tied to originating refis. The lender is also building a distributed retail operation to increase production of purchase mortgages.
Changes to the pricing grids of Fannie Mae and Freddie Mac last May created a natural experiment for researchers to study how changes to guarantee fees impact the housing market.
While electronic closings offer faster turn times, adoption of the technology comes with some complications. Still, the share of eNotes is expected to triple by 2028.
Recently divorced or widowed homeowners told the CFPB that mortgage servicers sometimes say they must refinance, even when they should be able assume the existing mortgage.
FCC warns scammers are successfully impersonating mortgage companies; Rocket begins first phase of rebrand; household growth expected to slow; MBA expands college program; Lower acquires technology vendor; MTC increases transparency on MSR valuations; Voxtur Analytics considering a sale; automated loan mod offering.
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