We caught up with NFL linebacker Kyle Van Noy to chat about his wife’s interior design chops and the couple’s love of home flipping.
Rocket Companies, the parent of America’s top mortgage lender Rocket Mortgage, reported a $60 million profit in the second quarter, down dramatically from $1 billion just the previous quarter. Company executives attributed the sharp decline to a stronger than expected drop in purchase business. The stunning decline in profitability suggests Rocket has much work to do in a […more]
Fannie Mae will now buy mortgage loans with lender-funded grants, including down payment assistance, closing costs or financial reserves. The change could give nonbank lenders a way to guard against redlining accusations. The government-sponsored enterprise will start accepting such loans immediately. According to Fannie Mae’s guidance, “The lender must have a documented program that provides […more]
Wondering what your homeowners insurance policy covers—and what it doesn’t cover? Read on to learn more about what you can expect.
Florida-based mortgage servicing company Ocwen Financial — the parent company of entities including PHH Mortgage Corp. and Liberty Reverse Mortgage — recorded a pre-tax loss of $26 million in Q2 2022 compared to income of $6 million one year prior. The company attributes those losses to higher mortgage interest rates and spreads as well as […more]
The first thing you notice about this unique $3.5 million house in Washington, DC, is its svelte appearance.
The parent company of appraisal software firm Veros Real Estate Solutions has acquired California-based appraisal management company Valligent Technologies. Valligent, founded in 2003 and led by Jeremy McCarty and Jeff Wickham, provides traditional, desktop and hybrid appraisal services to lenders, credit unions and others. Its bend toward digital valuation services comes during a time of […more]
Ahead of a potential merger with rival Intercontinental Exchange Inc., mortgage tech giant Black Knight reported slimmer profits in the second quarter and slowing organic growth. The company’s profit dropped nearly 90% from the previous quarter’s $364.6 million due to a gain on the investment in credit report services company Dun & Bradstreet Holdings, according […more]
Two years after acquiring RoundPoint Mortgage Servicing, Freedom Mortgage Corp. has inked a deal to sell the nonbank mortgage servicer to Matrix Financial Services Corp., another leading mortgage servicer and a wholly owned subsidiary of real estate investment trust Two Harbors Investment Corp. The acquisition is an all-stock deal, with Matrix agreeing to pay a preliminary price equal to the […more]
The 30-year fixed mortgage rate, the interest for the most popular home loan product, dropped below 5% for the first time in four months. According to the latest data, released Thursday by Freddie Mac, the 30-year fixed-rate average tumbled to 4.99% with an average 0.8 point. (A point is a fee paid to a lender […more]