A dip in United Wholesale Mortgage stock last week, driven by a report from a hedge fund that shorted the nonbank, has raised awareness on the number of mortgage companies that are being shorted.
Better saw improvements in its pull-through rates in a pilot program in which the lender paid its LOs commissions. The lender found that its no-commission model didn’t work well for purchase mortgages.
The FDIC’s updated economic inclusion strategic plan includes a goal to increase mortgage lending by banks. The plan leans heavily on education and outreach, though CRA credit could also be an option.
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.