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Homebuilders are done until mortgage rates fall
16-08-2022
Tuesday’s housing starts report clearly shows that homebuilders are going to be done with single-family construction until mortgage rates fall. Housing completion data is still struggling to get some traction, but in the coming months, builders should be able to get more housing completions done while housing permits and starts...
Read more66 mortgage lenders, brokers make Inc. 5000 list
16-08-2022
Nearly 70 mortgage lenders and brokers made it on the list of Inc. Magazine‘s 5,000 fastest-growing companies in the U.S. for 2022. The companies are U.S.-based, privately held and independent as of Dec. 31, 2018. Additionally, all these businesses had a minimum revenue of $100,000 in 2018 and $2 million last...
Read moreNine title insurance companies named to Inc. 5000
16-08-2022
A total of nine title insurance and settlement services providers were named to the Inc. 5000 list of America’s fastest growing private companies for 2022. In 2021, 12 firms made the list. The self-reported list is comprised of the 5,000 fastest growing private companies in the U.S. based on percentage revenue...
Read moreVoxtur to pay $101M to acquire MSR trading platform Blue Water
16-08-2022
Canadian real estate tech firm Voxtur Analytics Corp. has agreed to buy mortgage servicing rights trading platform Blue Water Financial Technologies for a cool $101 million. Voxtur, which has been on a buying binge over the last few years, plans to combine Blue Water’s capital markets SaaS platform with its...
Read more15 mortgage tech providers make the Inc. 5000 list
16-08-2022
Sixteen companies offering mortgage tech solutions made the Inc. 5000 rankings released today, with several repeat winners. The program ranks the fastest-growing companies based on a three-year average. The list of mortgage solutions providers on the list was topped by Maxwell, a mortgage solutions platform designed for America’s local lenders, at...
Read moreWho’s positioned to capitalize on Wells Fargo’s mortgage retreat
16-08-2022
The fate of Wells Fargo & Co.’s mortgage business has been the subject of industry speculation in the wake of a Bloomberg report indicating that the lending giant plans to shrink its enormous mortgage footprint, including a likely pull-back from the correspondent lending business. Shortly after that story went live, analysts at Keefe, Bruyette & Woods(KBW) published...
Read moreHomebuyers are backing out of more deals as high mortgage rates persist…
16-08-2022
Homebuilder cancellation rates have more than doubled since April, according to surveys by John Burns Real Estate Consulting.Read more: https://www.cnbc.com/2022/08/16/homebuyers-are-backing-out-of-more-deals-as-recession-fears-linger.html
Read moreBlend takes a $478M loss, cuts 25% of its workforce
15-08-2022
Blend Labs executives say they are being conservative in managing the company after recording a massive financial loss in the second quarter of 2022. The California-based mortgage tech company plans to reduce costs, including cutting 25% of its workforce, and will focus on products with a higher return on investment amid...
Read moreHELOCs are now “raging back”
15-08-2022
A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). HELOCs allow homeowners to tap...
Read moreMortgage forbearance rate continued to decline in July
15-08-2022
Servicers’ forbearance portfolio volume descended in July since mortgage forbearance rate dropped below 1% in April. The total number of loans decreased one basis point to 0.34%, according to Mortgage Bankers Association (MBA). The mortgage forbearance rate on a declining trend is positive news after the economic impacts of the pandemic...
Read moreWells Fargo to shutter correspondent lending?
15-08-2022
In the face of a declining mortgage market and heightened regulatory scrutiny, Wells Fargo, the country’s largest depository mortgage lender by volume, is planning for a smaller footprint in correspondent lending and third-party servicing business. The depository bank will likely shrink or potentially halt correspondent lending, in which Wells Fargo funds...
Read moreFannie Mae appoints Cissy Yang as chief audit executive
15-08-2022
Fannie Mae has appointed Cissy Yang as senior vice president and chief audit executive, taking over for J. Douglas Watt, who will retire in November. Yan’s appointment is effective as of September 12. As chief audit executive, Yang will be responsible for leading the company’s audit strategy, including internal controls...
Read more4 takeaways from the Investing Club’s ‘Morning Meeting’ on Monday
15-08-2022
The Investing Club holds its "Morning Meeting" livestream every weekday at 10:20 a.m. ET.Read more: https://www.cnbc.com/2022/08/15/4-takeaways-from-the-investing-clubs-morning-meeting-on-monday-aug-15.html
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