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Housing Wire
SEPTEMBER 23, 2022
Texas-based independent mortgage bank Thrive Mortgage has signed a letter of intent to acquire the Ohio-based lender American Mortgage Service Company (AMSC). Founded in 1975 in Cincinnati, AMSC originated $836 million in mortgages over the last 12 months.
Housing Wire
JULY 6, 2022
Non-QM lender Sprout Mortgage is shutting down operations, multiple workers said on Wednesday. The closure of Long Island-based Sprout, headed by industry veteran Michael Strauss, represents the second non-QM mortgage lender to close in recent weeks amid historic volatility.
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Housing Wire
JULY 15, 2022
Rocket Companies ‘ subsidiary Edison Financial will rebrand as Rocket Mortgage next month in Canada, a market with more than $760 billion (CAD) in mortgage originations annually. Rocket Mortgage also plans to become a direct lender in Canada later this year.
Housing Wire
SEPTEMBER 29, 2022
The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The index compiles only purchase mortgage rates reported by lenders during the past three days.
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Housing Wire
SEPTEMBER 1, 2022
Arizona-based mortgage lender Suburban Mortgage Inc. ’s Suburban was founded in September 1988 and has 38 licensed mortgage loan officers, according to the Nationwide Multistate Licensing System (NMLS). The post Did Suburban Mortgage shut down?
Housing Wire
SEPTEMBER 22, 2022
Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% Will Savage, an LO at PMC Mortgage. Matt Topping, an LO at Movement Mortgage.
Housing Wire
JULY 14, 2021
After several consecutive weeks of drops, mortgage applications jumped 16% for the week ending July 9, 2021, according to the latest report from the Mortgage Bankers Association. The refinance share of activity of total mortgage applications increased to 64.1%
Housing Wire
AUGUST 25, 2022
South Carolina-based Movement Mortgage has acquired the brokerage Superior Rate Mortgage of New England to expand operations in the region, the company announced Wednesday. Founded in 2014, Massachusetts-based Superior Rate Mortgage reached $412 million in sales volume in 2021.
Housing Wire
SEPTEMBER 6, 2022
Top mortgage lender NewRez has added to its line of “Smart Series” non-QM products, launching a 40-year fixed-rate interest-only mortgage loan. The new product comes amid mortgage rates around 6.25% and declining home sales. “We
Housing Wire
SEPTEMBER 29, 2022
Non-QM real estate investment trust Angel Oak Mortgage Inc. Angel Oak Mortgage Inc., He said Angel Oak Mortgage Inc. Angel Oak Mortgage Solutions , a separate company within the Angel Oak family, this week announced layoffs affecting 75 staffers.
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Housing Wire
SEPTEMBER 12, 2022
The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. One of the best hedges against inflation is a fixed mortgage rate.
Housing Wire
DECEMBER 16, 2020
After two weeks of decreases, the Mortgage Bankers Association reported that mortgage applications increased 1.1% 11 amid mortgage rates that hit a new survey low. The refinance share of mortgage activity increased to 72.7%
Housing Wire
SEPTEMBER 26, 2022
The overall mortgage delinquency rate declined to 2.79% in August from 3.6% A total of 1.489 million properties were in early-stage delinquencies, defined as borrowers who missed a single mortgage payment, which is a decrease of 3.61% from July.
Housing Wire
JUNE 21, 2022
Despite mortgage rates reaching the highest level in 14 years, mortgage applications increased 4.2% from the prior week, according to the latest Mortgage Bankers Association (MBA) survey for the week ending June 17.
Housing Wire
SEPTEMBER 29, 2022
Many mortgage professionals are turning to the platform as a way to connect with prospective borrowers and educate them on mortgage, as well as market themselves. Check out these mortgage and real estate accounts you should be following! Mortgage TikTok
Housing Wire
AUGUST 11, 2022
Purchase mortgage rates continue their roller coaster ride – they moved above 5% this week, according to the latest purchase mortgage survey from Freddie Mac. The 30-year fixed-rate mortgage increased this week to average 5.22%, up from last week’s 4.99%.
Housing Wire
SEPTEMBER 6, 2022
Miami-based fintech Milo has started to diversify its portfolio for investors with digital holdings by offering its first crypto-mortgage refinancing product, the company announced on Tuesday. Milo is not currently offering mortgage solutions outside the United States.
Housing Wire
AUGUST 31, 2022
Demand for mortgage loans declined last week when mortgage rates surged due to Federal Reserve Chairman Jerome Powell ’s speech indicating that combating persistent inflation will cause some pain now. . Due to higher mortgage rates, the refinance index had a 7.7%
Housing Wire
MAY 26, 2021
After two straight weeks of increases , mortgage applications dropped 4.2% for the week ending May 21, 2021, according to the Mortgage Bankers Association ‘s weekly mortgage applications survey. of total mortgage applications from 63.3%
Housing Wire
SEPTEMBER 7, 2022
Top 10 lender and servicer Freedom Mortgage has trimmed its workforce across multiple rounds of layoffs this year and continues to “offshore” some jobs, former employees tell HousingWire. Mortgage Freedom Mortgage mortgage layoffs Offshoring Stanley Middleman wholesale lending
Housing Wire
JANUARY 13, 2022
The average 30-year fixed rate mortgage increased to 3.45% during the week ending Jan. 13, up from 3.22% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed rate mortgage averaged 2.79%.
Housing Wire
JULY 19, 2022
Miami-based fintech Milo has closed $10 million in cryptocurrency mortgages since unveiling the product earlier this year, the company announced early Tuesday. The lower the ratio, of course, the higher the rate adjustment will be for the crypto-mortgage.
Housing Wire
JUNE 22, 2022
JPMorgan Chase , the nation’s largest bank, has started a workforce reduction of its mortgage lending business this week after having been struck by a tightening monetary policy that drove mortgage rates to over 6%.
Housing Wire
SEPTEMBER 6, 2022
Depository bank Citi has trimmed staffing levels in its mortgage business, following surging rates and a reorganization of its operations. . The bank funded $16 billion in residential mortgages from January to June, a decrease of 5.9%
Housing Wire
AUGUST 10, 2022
Nonbank lender Panorama Mortgage Group has added Texas-based Lone Peak Lending to its growing stable of brands. Donovan Stamps, a 27-year mortgage veteran with stints at Stearns Lending , SoFi Mortgage , First Guaranty Mortgage Corp.
Housing Wire
SEPTEMBER 26, 2022
Higher mortgage rates, lower volume and fiercer competition forced BayFirst National Bank to shut down its residential mortgage business and lay off staffers. The bank will continue to originate mortgage loans in its local Florida offices, the firm said.
Housing Wire
SEPTEMBER 1, 2022
Expectations of a continuing aggressive monetary policy led mortgage rates to increase 11 basis points this week, according to the latest survey from Freddie Mac. The 30-year fixed-rate mortgage rose to an average of 5.66%, up from last week’s 5.55%.
Keeping Current Matters
SEPTEMBER 7, 2022
If you’ve been thinking of buying a home, you may have been watching what’s happened with mortgage rates over the past year. Housing Market Updates Interest Rates Content Hub
Housing Wire
SEPTEMBER 27, 2022
Pennymac Financial Services named longtime industry veteran Jerry Halbrook as its new chief mortgage innovation officer. Halbrook, who announced his new position via LinkedIn on Monday, brings more than 25 years of experience in mortgages. Mortgage Jerry Halbrook PennyMac people mover
Housing Wire
FEBRUARY 18, 2021
After three weeks of unchanged rates, the average mortgage rate for a 30-year fixed loan jumped 8 basis points to 2.81%, reaching its highest point since mid-November, according to Freddie Mac ’s Primary Mortgage Market Survey.
Housing Wire
SEPTEMBER 19, 2022
Mortgage tech startup Staircase says it has launched a tool that enables mortgage insurers to automate the underwriting of non-delegated mortgage insurance (MI) policies for lenders at about half of the typical cost.
Housing Wire
SEPTEMBER 7, 2022
Demand for mortgage loans declined last week as the markets continue to exert pressure on rates. The market composite index, a measure of mortgage loan application volume, fell 0.8% 2, compared to the previous week, according to the Mortgage Bankers Association (MBA).
Housing Wire
SEPTEMBER 28, 2022
Demand for mortgage loans dropped following the Fed’s decision to raise interest rates by an additional 75 basis points last week. The market composite index, a measure of mortgage loan application volume, declined 3.7% retail, residential mortgage applications.
Housing Wire
MAY 11, 2022
Prospective homebuyers aren’t deterred by the skyrocketing mortgage rates amid a slow start to the spring home-buying season this year. The refinance share of mortgage activity dropped to 32.4% With mortgage rates on the rise here are some products originators should tap into.
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