Government sponsored enterprise Freddie Mac has approved mortgage technology company Truv for both payroll verifications and consumer-permissioned income. With the new integration, lenders will have access to the Truv platform to obtain and transmit information and data required on Freddie Mac’s Loa

Compass’ chief operating officer Greg Hart will leave the brokerage at the end of the year, according to a document filed with the Securities and Exchange Commission on Tuesday.According to the filing, Hart’s position is being eliminated and Compass will not seek to fill the vacancy. As such, Hart i

The Federal Open Markets Committee (FOMC) held its short-term policy interest rate steady at a range of 5.25% to 5.5% at its last meeting of the year on Wednesday. It was the fourth pause recorded in 2023. Federal Reserve Chairman Jerome Powell said that while inflation remains ‘elevated,’ the Fed a

Rocket Homes is looking to make your daily commute part of your home search experience. The company announced Tuesday that the Rocket Homes iOS app is now available on the infotainment screen of a user’s car via Apple CarPlay.According to the release, homes listed for sale can be seen by users in th

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates, steep home prices, scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021.It also has been a brutal year for the secondary market that creates liquidit

Top U.S. mortgage lender United Wholesale Mortgage (UWM) is offering discounted rates on some government loans until January for brokers to create their own “refi boom,” the company announced on Wednesday. The initiative includes three new exclusive rates – 5.749% paying 1.5 points, 5.999% paying 2

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year.They may find that relief for mortgage rates next year, according to forecasts from various industry experts compiled by HousingWire. Sal

Verifications provider Argyle announced an integration with the Exchange, an interconnected network of mortgage-specific service providers available to customers of the Empower loan origination system (LOS) from Dark Matter Technologies.The collaboration is aimed to make it easier for lenders to ord

PrimeLending, a Texas-based retail mortgage bank, added 12 new loan originators as it attempts to grow market share within its existing Texas footprint.Among the newly added LOs in the fall included two LOs — John Muhammad ($25.72 million) and Hugo Ortiz-Pulido ($21.21 million) with a production vol

Today’s inflation reports show that Federal Reserve rate cuts are in play in 2024 — not because of the labor market breaking, but because real rates are too high. If the labor market gets weaker, meaning jobless claims break over 323,000 on the four-week moving average, we can get even more rate cut

Cenlar FSB, the second-largest mortgage servicer and largest subservicer in the U.S., has partnered with financial services-focused data and analytics company BaseCap Analytics to pilot a new program designed to enhance regulatory and operational processes and compliance.The technology is designed t

The Council of Multiple Listing Services announced its new board of director members for 2024 on Tuesday. The MLS trade group said the new directors will assume their roles starting Jan. 1, 2024.The two new directors elected to the board are Justin Haag, the general counsel and incoming president an

California-based mortgage lender loanDepot on Tuesday announced the launch of its fully automated underwriting engine called melloNow.The new system, which has been in beta-testing for the last several quarters, delivers a fully conditional loan approval “in minutes rather than hours or days,” the c

The copycat commission lawsuits have made it to the West Coast. A home seller plaintiff in California filed an antitrust lawsuit on Friday in U.S. District Court for Northern California, accusing the real estate industry of colluding to artificially inflate real estate agent commissions.The lawsuit

Homeowners are increasingly concerned with flood insurance premium hikes impacting affordability, Fannie Mae‘s latest national flood survey showed. Despite people’s personal flooding experience, consumers have a poor understanding of the flood risk of their residence, particularly for those in high-

Inflation continued to edge down in November on a monthly basis, reinforcing the likelihood that the Federal Reserve holds interest rates steady at its final meeting of the year on Wednesday.Consumer prices were up 3.1% in November from a year earlier, down from 3.2% in October, according to data re

In the mortgage business, November typically represents the start of the slow season. While mortgage rates cooled down significantly from October, it wasn’t enough to overcome seasonal, historic trends and low levels of inventory.Lock volume declined 10% last month from October, driven by a 12% drop

While sellers of existing homes have struggled with rising rates and softening demand, homebuilders have not only survived, but thrived in this market thanks to the use of mortgage rate buydowns, a tool more widely used by builders since their business is selling homes and clearing inventory. Resear

Wells Fargo, once the largest mortgage lender in America, was accused of discrimination through the common industry practice of offering mortgage loan discounts to select borrowers, CNBC reported.The bank received Matter Requiring Attention (MRA) notice from the Consumer Financial Protection Bureau