Wells Fargo mortgage servicing drops 21%; JPMorgan retail originations dip
Wells Fargo's third-party servicing fell; JPMorgan's retail originations weakened — private lenders eye servicing and origination opportunities soon.
NAAHL urges regulators to reconsider proposed CRA revisions.
An industry association warns that proposed changes to asset thresholds used to determine community development eligibility would remove coverage for roughly 31 million people living in areas that would no longer meet revised criteria. The association contends that raising or recalibrating the asset tests [...]
Agents should advise buyers not to rely on a single home portal.
Listing gaps: Redfin 32, Homes.com 27, Zillow 15, Realtor.com 12 — highlights potential off-market opportunities and acquisition leads for private lenders.
Mortgage rates remain at 7.63% amid ongoing inflation pressures.
Mortgage rates eased modestly across key products, with FHA yields retreating from 7.59% to 7.37% and jumbo loans slipping about 10 basis points to 7.75%. The moves represent a small loosening for borrowers but were tempered by persistently elevated Treasury yields, which constrained the [...]
North Carolina faces tornado and flood risks as Isaias passes through.
Private lenders: North Carolina tornado warnings and flooding spur property damage assessments, insurance claims and collateral risk reviews for portfolios.
FirstClose and Cotality seek seven-day home equity closings.
Platform integration by FirstClose and Cotality aims to compress homeequity closing cycles to seven days; independent performance metrics not yet disclosed
Family-run brokerages likely to outlast industry disruptors.
Generational leadership as an operating model reframes how mortgage firms balance human capital and customer delivery. It treats leadership as distributed across cohorts, marrying the relationship-driven negotiation capabilities long valued in origination and servicing with the speed and accessibility demanded by digitally native borrowers. [...]
Bob Broeksmit says tri-merge credit reports may soon disappear.
The Mortgage Bankers Association has signaled an industry shift away from traditional tri-merge credit reports, prompting the Federal Housing Finance Agency to evaluate alternative approaches. Tri-merge reports, long used to aggregate credit bureau data for mortgage underwriting, are being questioned for their timeliness and [...]
Hines acquires 1,476 acres for 3,800‑home Fort Worth community.
Private lenders: Hines buys 1,476-acre Brown Ranch in Fort Worth for a 3,800-home, multi-phase development - large-scale residential financing opportunity.
Lenders should identify ALTA/NSPS survey red flags in commercial lending.
ALTA/NSPS survey red flags that impair collateral, title coverage, site access or closing ability private lenders must identify and address before funding.