Community development financial institution The Change Company won judgment against a firm led by its former employee, who previously sued the lender, lodging allegations of misconduct. The Anaheim, California-based parent of Change Lending filed suit in 2023 against Yeti Global Services, a company owned by its former chief of staff Adam Levine. Change accused Levine […]
Change Co. emerges victorious after suing ex-employee Read More »
May’s slightly stronger than anticipated employment data dampened lenders’ hopes for further downward pressure on rates in the immediate future, as they added incrementally to payrolls for the spring homebuying season. U.S. employers overall added 139,000 jobs last month, above consensus expectations for around 130,000. Unemployment remained stable at 4.2%. Nonbank mortgage employment, which is
Jobs numbers dash hopes for rate cut, mortgage hiring rises Read More »
Even though some mortgage industry economists are expecting existing home sales to improve this year, affordability remains an issue holding many consumers back from acting. On the lender side, the competitive landscape for whatever leads are in the market is getting tougher because of the uncertainty around mortgage rates. A new offering from RatePlug looks
RatePlug’s new tool creates, nurtures real estate leads Read More »
For the first time in four weeks, mortgage rates have moved lower, following another seven-day period where the benchmark 10-year Treasury yield moved in a wide range. However, rates are still at levels last seen in February, the Freddie Mac Primary Mortgage Market Survey showed. “The average mortgage rate decreased this week, which is welcome
Mortgage rates move lower for first time in four weeks Read More »
A mortgage lender helping Americans buy homes abroad received a capital boost this week thanks to a new warehouse agreement with an investment management firm. Volo Loans, which specializes in serving U.S. citizens looking to finance properties in Costa Rica, landed its $50 million investment from Gramercy Funds Management, a global firm specializing in emerging
Volo secures funding to expand expat mortgage lending Read More »
Closed-end home equity loan annual growth outpaced its line of credit cousin in the fourth quarter, increasing 13% above its high point from a year ago, the TransUnion first quarter Home Equity Trends Report found. Total home equity origination, in which TransUnion counts first mortgage refinance activity as well (although it does not distinguish between
Closed-end seconds lead overall home equity loan growth Read More »
US mortgage applications for home purchases declined to a five-week low even as rates eased from the highest level since late January. The Mortgage Bankers Association’s index of applications for home purchases decreased 4.4% to 155 in the week ended May 30, which included the Memorial Day holiday. The contract rate on a 30-year mortgage
US home purchase applications gauge declines to a five-week low Read More »
Mortgage software provider Dark Matter Technologies is making electronic closing capabilities available on another of its loan-origination systems through a new agreement with Wolters Kluwer. The technology firm will offer e-closings on the Nova LOS platform, a system it added to its product suite alongside its primary Empower origination system in the latter half of
Dark Matter to offer e-close capabilities through Nova LOS Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors. The top five lenders in our ranking had an average retail mortgage origination volume of more than $5 billion at the end of the first quarter of 2025. While most lenders saw a decrease in business between the fourth quarter of 2024
20 banks with the largest retail mortgage volumes in Q1 Read More »
The next 12-to-24 months will be a good time for the home equity lending market because of the conditions affecting the first lien business, experts say. With elevated mortgage rates, the amount of equity homeowners hold right now and the relative shortage of inventory “it’s a really lucrative environment for home equity, and has been
Home equity lending has strong two-year runway ahead Read More »
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