Author: Michael Gersitz

Wells Fargo has finalized the sale of a $50 billion block of mortgage-servicing rights (MSR), a deal that is expected to close later this year, according to bank officials. One expert in the MSR sector, who asked not to be named,

Wells Fargo and JP Morgan Chase, the country’s top depository lenders, saw mortgage production volume further decline in the first three months of 2023, signaling another tough quarter for the mortgage industry. Wells Fargo, the fourth-largest U.S. mortgage lender by

The U.S. Department of Housing and Urban Development (HUD) this week announced that it is allotting $30.3 billion for the Housing Choice Voucher (HCV) Program for 2023. The increase marks a 10.5% increase to the program’s 2022 funding levels, according

Nearly 12 months have passed since Fannie Mae first announced it would in limited circumstances be accepting attorney opinion letters in lieu of title insurance. While there has been much discussion over the pros and cons of title insurance and

Who decides what our neighborhoods look like? And who profits from these projects? The answer is a combination of real estate developers, brokers, investors, agents and property owners — the overwhelming majority of whom are white. For generations, real estate

Homeownership remains at the core of the American Dream. After all, it improves financial security, enhances family and community stability, and builds intergenerational wealth. The Federal Reserve’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is

First Federal Bank will acquire the mortgage division of BNC National Bank, which will give the Florida-headquartered community-based bank a nationwide consumer direct mortgage platform. The two banks announced they have signed a definitive agreement for First Federal to acquire

To address the challenges and inefficiencies in the traditional lending process, Tavant has developed the Touchless Lending platform, which leverages advanced technologies like artificial intelligence, machine learning, data analytics and cloud computing. Through Touchless Lending, the company aims to deliver

Simplifile by ICE Mortgage Technology electronically connects people, technologies and data in the real estate transaction to streamline their workflows. From pre-closing through post-closing, ICE Mortgage Technology offers electronic services that save time and money compared to traditional methods of

Wholesale lending is great for helping serve underserved borrowers. For example, borrowers who are prime and creditworthy but who may not qualify for traditional mortgages, such as the self-employed or those with non-traditional income sources, may benefit from non-QM programs.