United Wholesale Mortgage posted strong production in Q1 2025, despite a revenue loss. The lender reported a net loss of $247 million and total revenue of $613.4 million, according to its earnings report. Driving the decline was a $388.6 million loss to the fair value of its mortgage servicing rights portfolio. Originations saw a boost….
Mortgage activity declined significantly in 2023, with refinances hit especially hard, while IMBs took market share from banks and CUs. Data from the Home Mortgage Disclosure Act, collected by the Consumer Financial Protection Bureau, found that both applications and originations fell by about a third in 2023. Since 1975, the HDMA has required financial institutions…
By NICOLE MURRAY “Marry the house, date the rate” seemed like a reasonable homebuying strategy when economists were predicting mortgage rates would drop in 2024 and beyond. But now, looking into 2025, it seems like higher rates are here to stay. The economic research team at Realtor.com says mortgage rates will average 6.3% across 2025…
United Wholesale Mortgage unveiled looser cash-out refinance guidelines to boost business, but some analysts worry it could stretch homeowners too thin. UWM launched a new 90% LTV cash-out refi that doesn’t require insurance. It’s painted as a way to “win more business and gain valuable referrals while helping borrowers take full advantage of their home…
United Wholesale Mortgage rolled out a new technology to give brokers easy access to refinance opportunities. The system, KEEP, sends pre-validated refinance opportunities once mortgage rates shift to meaningfully save borrowers money. UWM says its goal is to help wholesale lenders capture refi opportunities in a saturated market. “In a refi market, you can expect…
Mortgage applications reversed course last week, turning down after getting a refi-inspired boost the week prior. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — fell by 2.2%, cutting into its 3.9% increase. Adjusted purchase applications decreased by 4%, while the unadjusted…
Both purchase applications and refis saw increases as rates fell for a fifth consecutive week. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – rose by 7.4%. Adjusted purchase applications increased by 3%, while the unadjusted index was up 4% from the week before and…
The Chief Operating Officer at SingleSource Property Solutions said in a recent interview with The Mortgage Note that their mission is to protect neighborhoods. Ed Austin has been working in the mortgage industry for 25 years on the vendor management side. He has been COO of SingleSource in Pennsylvania for seven years. In August, the…
Mortgage loan application volume fell 3.7% last week, continuing a downward spiral as mortgage rates hit their highest point since mid-July, the Mortgage Bankers Association’s weekly survey shows. The adjusted Market Composite Index, a measure of mortgage loan application volume, decreased by 3.7%. The adjusted purchase index fell 2%, while the unadjusted purchase index dropped…
Mortgage loan application volume reversed course after five straight weeks of decreases, rising 6.6% last week, the Mortgage Bankers Association’s (MBA) weekly survey shows. The adjusted Market Composite Index, a measure of mortgage loan application volume, increased by 6.6%. The adjusted purchase index rose 8%, while the unadjusted purchase index was up by 18% and…
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