Both listings and sales improved in December, suggesting the impact of cooling rates may finally be encouraging movement in the market. That’s according to HouseCanary’s December Market Pulse Report, which found new listings up 5% YOY last month. Though stock remains historically low and many buyers are still priced out of the market, the data…
Mortgage applications slipped as the initial shock of falling rates wore off and buyers once again approached the market carefully. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – fell 1.5%, coming down from the week prior’s 7.4% boost. Adjusted purchase applications dropped…
Rocket Mortgage’s search tool has new advancements, the company announced in a press release. Pathfinder is an AI and machine learning-powered search engine used by more than 40,000 bankers, brokers, and underwriters to simplify mortgage processing. “Pathfinder has been an invaluable tool for curating complex data and transforming it into knowledge engineering. This technology, and…
New American Funding and The Agency are partnering to meet the needs of The Agency’s clients, with NAF becoming the preferred mortgage lender of The Agency. NAF, which marks its 20th anniversary in 2023, holds the distinction of being the largest Hispanic-owned mortgage lender in the U.S. Meanwhile, The Agency has earned global recognition as…
Non-conforming loans pushed rate lock dollar volumes up in February as homebuyers struggle to handle high rates. While conforming, FHA, and VA loans all lost some share of the market last month, non-conforming loans increased across the spectrum, snagging 12.2% of the market, Black Knight reported in its latest Originations Market Monitor report. Jumbo loans…
Just a few weeks after Better.com announced its One Day Mortgage product, Guaranteed Rate is trying to speed things up further with Same Day Mortgage. Same Day Mortgage promises a loan approval in less than 24 hours, which Guaranteed Rate calls an “industry first.” “Guaranteed Rate is known for revolutionizing the mortgage industry and making…
FormFree is entering a new era, having strategically divested itself of asset-verification service AccountChek and naming a new president. Eric Lapin, who joined FormFree in 2022 as chief strategy officer, was promoted to president, the company announced. “FormFree is proud to have pioneered the mortgage industry’s first asset verification service, and that revolutionary spirit will…
Matt Nader has been promoted to Senior Vice President, Director of Sales at First Home Mortgage, leaders at the lender announced in a press release. Nader joins the executive team after five years as a loan originator and branch manager, being named the company’s top originator for the last four years. “The last five years…
Carrington Mortgage Services, a private non-bank lender, is adding assumable mortgages to its list of services. Assumable mortgages allow buyers to assume responsibility for a seller’s loan terms. This includes the current balance, interest rate, remaining term, and any other terms of the mortgage. “Carrington is committed to ensuring borrowers have every possible opportunity to…
Better.com is starting 2023 with a product leaders there think will revolutionize the industry: a mortgage application with a one-day turnaround. Better announced the launch of its One Day Mortgage in a press release. The company says its customers can get pre-approved, lock in a rate, and get a Mortgage Commitment Letter completely online and…
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