National Mortgage Professional

Home Sales Fall To Nearly Two-Year Low As Purchase Demand Splinters

U.S. home sales dropped to their lowest level in nearly two years in July, but the national decline conceals a purchase market increasingly being driven by local employment, inventory, and borrower ...
National Mortgage Professional

UWM Offers LOs 90-Bps Incentive On One Agency Loan

United Wholesale Mortgage is giving each loan originator a one-time, 90-basis-point pricing incentive to use on a qualifying ...
nationalmortgageprofessional.com

Higher Rates Cool July Mortgage Locks While Non-QM Pushes Past 10%

Purchase locks fell 12% from June as the conforming share dropped to 47.3%, extending the mortgage market’s shift toward more specialized products Higher mortgage rates erased June’s improvement in ...
nationalmortgageprofessional.com

Gen Z Would Trade ZIP Codes Before Taking On A Bigger Mortgage

Only 19% would stretch their housing budget, signaling that the next generation of buyers may expect originators to search across markets — not merely across loan products Gen Z still wants to buy ...
National Mortgage Professional

UWM Seeks More Than $500M From Two Harbors After Failed Deal

The fight over Two Harbors Investment Corp. did not end when shareholders approved its sale to CrossCountry Mortgage.Now United Wholesale Mortgage wants damages.UWM Holdings Corp. and UWM Acquisitions ...
National Mortgage Professional

Dream Finders’ $2.2B Beazer Deal Puts Mortgage Capture In Focus

Dream Finders Homes has agreed to acquire Beazer Homes USA in a $2.2 billion all-cash transaction, ending a months-long ...
National Mortgage Professional

Newrez Grows Profit Without Chasing Mortgage Volume

Newrez’s mortgage production barely moved in the second quarter, but its operating profit climbed 12%, reflecting a strategy ...
nationalmortgageprofessional.com

Finance Of America Gets More Reverse Production From The Same Sales Force

Retail funded-loan count rose 33% from the first quarter with stable sales capacity, while proprietary products gained traction by offering some borrowers more cash than HECMs Finance of America ...
National Mortgage Professional

Record Home Equity Masks Growing Distress Among Recent FHA, VA Borrowers

Mortgage holders collectively entered the third quarter with nearly $18 trillion in home equity, but that record wealth is obscuring mounting distress among recent FHA and VA borrowers who bought near ...
National Mortgage Professional

Brokers First Funding Names Pam Scheidt Operations Director

Brokers First Funding has appointed Pam Scheidt as vice president and director of operations, placing her in charge of the ...
National Mortgage Professional

UWM Ties $603 Million Hedge Loss To Failed Two Harbors Bid

United Wholesale Mortgage Chairman and CEO Mat Ishbia attributed a $603.2 million derivatives loss in the second quarter to ...
National Mortgage Professional

UWM’s $2.05 Billion Capital Reset Doesn’t Erase Its Leverage

United Wholesale Mortgage’s $2.05 billion capital reset may strengthen its liquidity and replace secured borrowings, but Fitch Ratings does not believe the transaction immediately reduces the ...