With $3 million in new funding, Roam wants to help buyers “wind back the clock” on mortgage rates in markets nationwide by the end of the year.
Category: mortgage
Blend trims loss, shrugs off decline in mortgage segment revenue
Mortgage tech and cloud banking software provider says it’s debt free and on faster track to profitability, thanks to $150 million cash injection from Haveli Investments.
January cyberattack a $37M weight on loanDepot Q1 2024 results
In addition to $15 million in direct costs, loanDepot says it lost an additional $22 million in revenue while systems were down, contributing to $72 million net loss.
Rates ease as Fed says it will dial back balance sheet tightening
Federal Reserve policymakers say they’ll slow the pace of “quantitative tightening” to $40 billion a month, less than half the pace envisioned 2 years ago.
Homebuyers falter as mortgage rates hit new 2024 highs
Requests for purchase loans were down 1 percent week over week and 15 percent from a year ago, according to the latest Mortgage Bankers Association survey.
Homebuyers rush to lock as mortgage rates hit new 2024 highs
Rates for conforming loans pushed through 7 percent last week and continue to rise, as latest inflation data dims prospects that Fed will ease in June.
Industry gets some clarity on mortgage commission rules
Fannie, Freddie and FHA say sellers can continue to pay the buyer’s agent’s commission. But it remains to be seen if buyers will be allowed to finance their agent’s commission into their mortgage.
Billionaires brawl as everyone else just tries to get by: The Download
As mortgage heads from UWM and Rocket fight it out in the press, it seems like both agents and consumers are just wondering how they’re going to pay the bills.
Hot inflation data sends mortgage rates to new 2024 highs
Bond market investors who fund most mortgage loans are increasingly convinced the latest inflation numbers mean the Federal Reserve won’t cut rates in June.
United Wholesale Mortgage defends its business practices
Citing recent court victories, UWM says, “It is not uncommon nor illegal for a broker to send most or all of their business to a specific lender.”