Author: Michael Gersitz

Blend Labs reported a $73.5 million loss in the first quarter, but pointed to the performance of its mortgage banking and title sectors as a positive sign for the rest of the year. The company’s revenue rose to $71.5 million,

Mortgage servicing is a scale business, meaning the economics of scale can be achieved with larger servicing portfolio by spreading the fixed costs among more loans being serviced. Such scaling; however, hasn’t achieved the expected results as indicated by both

Homeowners in New York who are knee-deep in foreclosure litigation may soon get a break, as a piece of legislation making its way to Gov. Kathy Hochul’s desk could discharge a swath of foreclosure cases pending in state and appellate

Not everyone can afford to invest in rental property in the area they live in. In some regions, housing prices are so high that it may be difficult to add to your real estate portfolio. Whether cash buyers outbid you

Rates are rising. Refinances are falling. Inventory is contracting. Application fallouts are worsening. It’s getting harder out there. Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic

Home Point Capital, the parent company of wholesale lender Homepoint, continues to turn profits based on the selling of operations and assets as management adjusts the company to the shrinking mortgage market. The wholesaler reported on Thursday morning it notched a

An ebullient market for mortgage-servicing rights (MSRs) helped to buoy the profitability of at least three major nonbank lenders that are publicly traded and abated losses for a fourth, based on their recently announced first-quarter financial results. Those lenders are UWM Holdings Corp., the

Soaring home prices continue to serve existing homeowners, with nearly 45% of all property owners now considered equity rich, a year-over-year jump that boosted 13% more homeowners into the prime position. A homeowner is considered equity rich when they have

The U.S. Senate confirmed Julia Gordon on Wednesday evening to serve as commissioner of the Federal Housing Administration (FHA). The position is part of the Department of Housing and Urban Development. Gordon, who most recently stepped down from her role

Purchase mortgage rates this week averaged 5.30%, up three basis points from a week ago, causing homeowners’ monthly payments to increase by about one-third year-over-year, according to the latest Freddie Mac PMMS. Borrowers continue displaying resilience, but higher rates expected in coming months