The bank says it has racked up $353M in severance expenses, primarily in mortgage, as it closes branches and pursues a 'more focused home lending business'
Premium cuts are expected to save borrowers $678M a year but don't apply to existing loans or release homeowners who have built up equity from 'life-of-loan' requirements
Offerpad sold more than 10,000 homes last year for the first time in company history, but posted a record $121.1M fourth-quarter loss, according to an earnings call for the iBuyer on Wednesday
The deal is touted as a way to give mortgage lenders critical information about borrowers and properties at the beginning of the loan process to streamline closings
Demand for purchase loans down 18% week over week and 41% from a year ago as mortgage rates rise for the second week in a row to hit new 2023 highs, MBA survey shows
Economic downturn could put a damper on a promising start to the spring homebuying season, but set the stage for mortgage rates to ease and sales to rebound in 2024, Fannie Mae predicts
Homebuyers can potentially save $600 to $1,200 a year by applying for a mortgage with multiple lenders, according to a new analysis released Thursday by mortgage giant Freddie Mac
Double-digit growth in open offices was a bright spot for parent company RE/MAX Holdings, which reported a $2.6M Q4 net loss as rising rates dented home sales
Integration of Wolters Kluwer's eNote and eVault capabilities into Black Knight's digital closing solution, Expedite Close, eliminates need for multiple vendors
Study led by economists at the Environmental Defense Fund identifies some surprising regions, such as Appalachia and northern New England, as overvaluation hotspots
Although Divvy has not yet responded to requests for comment, a half-dozen former employees posted on LinkedIn that they were laid off Wednesday
Mortgage rates have been inching up from 2023 lows following a strong jobs report and January's Consumer Price Index readout, which shows only a slight cooling in inflation
Black Knight is reportedly looking to spin off its Empower loan origination system to placate regulators' antitrust concerns as critics raise market power, data privacy issues
Former Rocket Mortgage CEO Bill Emerson will serve as the company's interim CEO and fill the board vacancy while its board of directors conducts a search for a permanent leader
Rising mortgage rates have many lenders looking to sell servicing rights, creating opportunity for Dallas-based company that now collects payments on $870B in loans
Shares in the Hubzu operator touched a new 52-week low Friday as the company released details of a plan to pay off a portion of its nearly $200M debt burden by issuing up to 4.6M shares
Debt-burdened company notified regulators in December of plans to raise up to $100M through public stock offering on way to posting $53M 2022 net loss
Strong job numbers spark fears that the Fed will need to stick to its guns and continue to raise rates and keep them elevated for some time to fight inflation
Founder and former CEO in public spat with board after nominating real estate veteran Steve Ozonian to serve on the floundering mortgage lender's board of directors
Regulators alleged statements made by hosts of Townstone Financial's call-in show discouraged 'prospective' African-American applicants from seeking mortgage loans
