In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. Starting March 1, 2023, servicers will be required to maintain data on borrowers’ age, race, ethnicity, gender and preferred language. The data will stay with the loan throughout the […more]
It’s harder than ever to afford a home in the U.S., with higher mortgage rates claiming a bigger share of incomes and prices still rising at double-digit rates across most of the country. The monthly bill on a typical existing single-family home with a 20% down payment jumped to $1,841 in the second quarter, according […more]
Income verification platform Truework raised $50 million in Series C funding to develop products that will advance digitizing the verification process for banks and lenders. Venture capital firm G squared led the funding round, which also included participation from returning investors Sequoia Capital, Activant Capital and Khosla Ventures. Indeed, Human Capital and Four Rivers Group […more]
After a brief dip below 5% for the first time in four months, the 30-year fixed rate shot above that level this week. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average jumped to 5.22% with an average 0.7 point. (A point is a fee paid to a lender equal […more]
Having dropped under 5 percent for the first time in four months last week, driven by an “increased risk of a formal recession and declining consumer confidence overall,” the average rate for a benchmark 30-year mortgage has since jumped 23 basis points (0.23 percentage points) to 5.22 percent. With the jump over the past week, […more]
Food Network star Valerie Bertinelli is serving up her delicious digs, listing her Los Angeles abode for $2,549,000.
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%. A year ago this time, rates averaged 2.77%. The index compiles rates reported by lenders during the past […more]
One of the most important housing market stories in recent weeks has been the decline in new listings, which has slowed the growth rate of total inventory. What does this mean? Some have said this is evidence of a soft landing for housing since we are in August and it doesn’t look like we are […more]
Two industry titans, Tom Ferry, CEO of Tom Ferry International, and Gino Blefari, CEO of HomeServices of America, will join attendees for a fireside chat at the exclusive Vanguard Forum during HW Annual Oct. 4. These two powerhouse leaders have been renowned in the industry for many years, and we’re excited for them to share […more]
Nonbank lender Panorama Mortgage Group has added Texas-based Lone Peak Lending to its growing stable of brands. Lone Peak is the fourth lender to join Panorama this year, following the additions of Utah-based Rely Home Loans, Texas-based Prosperity Mortgage and Oregon-based Vision Mortgage Group. Donovan Stamps, a 27-year mortgage veteran with stints at Stearns Lending, SoFi […more]