Real Estate Financing

Frontwave integrates the Black Knight digital ecosystem

March 20, 2023 -
Black Knight, Inc. on Monday announced that Frontwave Credit Union will now implement Empower, Black Knight’s cloud-based loan origination system, and its integrated solutions, for the expansion of its mortgage lending operations. The integration with Black Knight’s digital ecosystem will ...

The Fed Will Still Raise Rates in March, And That’s Why Rates May Keep Falling

March 17, 2023 -
There’s certainly a chicken/egg problem when it comes to interest rate news. Is it the Fed’s decisions that move rates? Or do market forces move rates, thus forcing the Fed to react? The answer is somewhere in between. If inflation ...

Candor mortgage AI firm conducts layoffs

March 17, 2023 -
Candor Technology Inc., a mortgage artificial intelligence firm focused on automated mortgage underwriting decisions, has conducted layoffs as lenders rush to cut costs.  “Candor is executing a change in strategy to address the ever-changing mortgage market and to pivot along ...

Average IMB lost $2,812 per origination in Q4 

March 17, 2023 -
Basis-point revenues also dropped to levels not seen since the fourth quarter of 2011, Walsh noted. Bottom line is that even when all business lines are considered – mortgage production and mortgage servicing – only one in four companies were ...

First Republic Bank is reportedly exploring sale: Bloomberg

March 17, 2023 -
First Republic Bank, the fourth-largest non-agency jumbo lender in America, is exploring strategic options, including a sale and a capital infusion, and is expected to attract interest from larger rivals, Bloomberg reported on Wednesday, citing anonymous sources with knowledge of the matter. ...

The mortgage industry doesn't want the DTI LLPA fee delayed. They want it killed

March 17, 2023 -
The Federal Housing Finance Agency’s (FHFA’s) decision to delay implementing the controversial upfront fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income (DTI) ratios gave mortgage lenders a breather. The agency postponed the implementation of the fee to ...

Blend focuses on tech, cost reduction as it reports $769M loss

March 17, 2023 -
California mortgage tech firm Blend Labs is focused on cutting costs and courting more users to its Blend Builder platform. The goal is to bring the firm to profitability after posting a net loss of $768.6 million in 2022.  Blend’s ...

First Republic to be rescued by $30B in big bank deposits

March 16, 2023 -
A group of 11 U.S. banks has agreed to make $30 billion in deposits at First Republic Bank to avoid another regional bank failure. The rescue comes after Silvergate Bank, Silicon Valley Bank and Signature Bank collapsed amid a liquidity ...

Banking turmoil sends mortgage rates downward

March 16, 2023 -
Market reaction to banking collapses over the past week drove mortgage rates lower for the first time in over a month, according to the latest data from Freddie Mac.  The average 30-year fixed mortgage rate fell 13 basis points to ...

Mortgage rates declined amid banks failures. What’s next?

March 16, 2023 -
After increasing steadily for over a month, mortgage rates fell last week following a deposit run that provoked a liquidity crisis in regional U.S. financial institutions — and resulted in the failures of Silicon Valley Bank and Signature Bank. But ...
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