It’s not all doom and gloom in the world of independent mortgage brokers. The rapid rise in interest rates has had myriad effects on the entire residential real estate ecosystem, with independent mortgage brokers certainly feeling the squeeze. Higher rates have substantially cut into the…
United Wholesale Mortgage (UWM), the leading wholesale and purchase lender in the U.S., today announced the launch of temporary rate buydowns. Effective today, the Pontiac, Mich.-based company said in a news release, “the new offering will allow independent mortgage brokers to give their clients ext…
Rocket tops the list of the Crain’s Detroit Business “Fast 50” list for 2021.
The Goldman Sachs Group decreased their price objective on UWM to $3.50 in a report on Monday.
Additionally: FHFA adds reporting mandate for servicers and more layoffs are announced.
When looking to invest in small-cap companies, it can prove to be benefical investing in small-caps that have proven profitability and willingness to conduct shareholder distributions while reinvesting in the firm.
Homeward, an Austin, Texas-based company offering alternative financing for real estate, laid off about 20% of its staff this week. In a 1,330-word message titled “A Note From Our CEO” posted to the company’s website blog on Wednesday, Homeward Founder & CEO Tim Heyl said the reduction in force “is…
“We’re not afraid to get smaller as an organization,” Homepoint’s Willie Newman told analysts after reporting a $44 million loss in the second quarter.
Don’t put your golf clubs away just yet, because Eastern Michigan University men’s basketball Head Coach Stan Heath is officially inviting you to Eagle Crest Golf
The Democratic incumbents running for re-election as secretary of state and attorney general reported record fundraising amounts over the last quarter.
California-based mortgage lender loanDepot is shutting down its wholesale division amid plummeting origination volumes and widening financial losses in the second quarter.
Big and small, they aren’t the first and won’t be the last. Residential lenders everywhere are ruminating on Notarize laying off 75 percent of its legal staff, the closure of fledgling correspondent Cypress Mortgage Capital, “powered by Celebrity Home Loans,” and the announced winddown and shutdown…
On July 27, Trident Mortgage Company was ordered to pay over $22 million for discriminatory lending patterns in majority-minority neighborhoods throughout the greater metropolitan Philadelphia region, including Camden, New Jersey and Wilmington, Delaware.
Credit Suisse Group cut UWM from a “neutral” rating to an “underperform” rating in a research report on Tuesday.
Total mortgage origination volume for the Pontiac company was $29.9 billion last quarter, which was down 23% from the first quarter.
UWM reported stronger profits than the market leader Rocket Mortgage in the second quarter, and also cut its rival’s lead in origination volume.
Mortgage credit availability decreased in July to its lowest point since March 2013. That’s according to the Mortgage Credit Availability Index (MCAI), a report released today from the Mortgage Bankers Association (MBA) that analyzes data from ICE Mortgage Technology.
More than 60% of houses listed for sale were on the market for at least 30 days in July before going under contract, up from 54.4% from a year ago, real estate firm Redfin reported today.
The period of struggle for mortgage companies was clear as day in the earnings report released Thursday evening by Rocket Companies Inc. (NYSE: RKT). More examples are likely to come next week.Even as top executives at the Detroit-based parent company for Rocket Mortgage and other personal finance…
″ The report on the Mortgage Lender market provides a market analysis complete with a quantitative a