Fannie Mae and Freddie Mac are offering a $2,500 credit that borrowers can put toward their down payment, closing costs, escrow or mortgage insurance premiums.
Category: mortgage
New American Funding acquires Draper and Kramer Mortgage
“Strategic move” expands New American’s footprint in the Midwest and East Coast regions, with a majority of DKMC’s loan originators and support staff to be retained.
Patriot Bank denies DoJ redlining allegations, settles for $1.9M
Government alleges competitors in Patriot’s peer group made home loans in minority areas of Memphis at almost three times the rate of Patriot from 2015 to at least 2020.
Falling mortgage rates should boost home sales: Fannie Mae
Fannie Mae economists no longer expect a recession and are considerably more optimistic that mortgage rates have additional room to come down below 6 percent.
David Stevens, influential leader in mortgage finance, dies at 66
The former FHA commissioner also held executive positions at World Savings Bank, Freddie Mac, and The Long and Foster Companies before leading the Mortgage Bankers Association.
Navy Federal faces lawsuits over discriminatory lending allegations
Lawmakers are demanding a federal investigation in the wake of a CNN analysis that concluded the nation’s largest credit union denied more than 50 percent of Black mortgage applicants in 2022.
Jump in key inflation gauge may delay mortgage rate relief
Futures markets still hold out hope for a March rate cut, even as annual inflation increased to 3.4 percent in December, moving away from the Fed’s 2 percent goal for the first time since September.
Airbnb vet Jonathan Mildenhall to unify Rocket’s marketing efforts
The company’s first group CMO will be responsible “for creating a unified and compelling voice for all businesses” under the Rocket umbrella, including Rocket Mortgage, Rocket Homes and Rocket Money.
Falling mortgage rates haven’t sparked homebuyer stampede
Recent decline in rates is “some cause for optimism,” but requests for purchase loans are still down 12 percent from a year ago.
Rocket’s new CEO Varun Krishna takes seat on board of directors
The mortgage lending giant’s board of directors has been expanded from seven members to eight to accommodate the move. Krishna’s term will expire at the company’s 2026 annual meeting.