Author: Michael Gersitz

Online mortgage lender Better.com revealed it raised $200 million in a series D financing that put the New York-based startup at a $4 billion valuation, according to an internal memo reviewed by Bloomberg. The Monday news of Better’s new funding

The low interest rates this year have led to increased revenue and high loan volumes. Unfortunately, the threat of wire and title fraud risk has also increased.  As companies and their workforces continue to adjust to a work-from-home system in

After winning a majority of the electoral college, Joe Biden and Kamala Harris are presumed to be the current president-elect and vice president-elect of the U.S. The housing industry took the opportunity to welcome the new administration and remind it

As of this writing, it looks like the Republicans will hold the Senate while the Democrats will have the White House and a majority of the House of Representatives. Assuming these results stick, I offer here some informed speculation regarding

Just weeks away from its anticipated $16.1 billion IPO, United Wholesale Mortgage (UWM) closed on the sale of $800 million in senior notes. The bond sale, which closed this week, gave the Detroit-based mortgage giant $791 million in proceeds. The

Non-QM lending took a brief pause earlier this year due to the pandemic causing a flight to cash in the bond market, but the non-QM borrowers and investors haven’t disappeared. While 2020 has seen record volumes, low rates and profits,

Homeowners who were placed into proactive forbearance plans by Wells Fargo received positive news this week. Law360 reports that on Nov. 2, in response to a class action lawsuit filed in Virginia, Wells Fargo agreed not to place homeowners into

Redfin saw a revenue decrease of 1% year over year, to $237 million in the third quarter, above the company’s projected revenue of between $214 million and $225 million. In addition, its gross profit was $93 million, an increase of

The U.S. unemployment rate in October hit a new pandemic low of 6.9%, down a full percentage point from September’s 7.9%, the Labor Department said on Friday. With 1.5 million people making up that one percentage drop, the department estimates that now 11.1

RE/MAX reported total revenue in the third quarter of $71.1 million, a decrease of $0.5 million, or 0.7%, compared to $71.5 million in Q3 2019. In Q2, total revenue was $52.2 million. The company said that total revenue decreased “primarily

The pandemic-fueled exodus continues as apartment dwellers in big cities flee to the suburbs and beyond. The suburbs and rural areas of the Northeast are attracting more homebuyers, as Redfin reports that three out of the 10 metro areas with

The outcome of the presidential election is still uncertain, but there’s at least an even chance that former Vice President Joe Biden will be named the winner at some point. If that happens, what should the mortgage industry expect as