loanDepot suspends employee 401K match, ups exec salaries

loanDepot said it plans to “temporarily suspend the employee 401K match program effective October." But still plans to give execs pay raises, HousingWire reported. HousingWire obtained an email from loanDepot CEO Frank Martell, in which he...

Down payments doubled during the pandemic housing boom

The typical U.S. homebuyer who took out a mortgage in July made a $62,500 down payment. That’s up 13.6% from a year earlier and almost twice the average $32,917 down payment in July 2019. Of course, this spike makes it even more difficult…

Mortgage applications plummet to slowest pace since 1997

Mortgage applications fell 14.2% for the week ending September 30 from one week earlier, according to the Mortgage Bankers Association. The Market Composite Index, a measure of mortgage loan application volume, decreased 14.2% on…

Affordable options for first-time home buyers shrink

A new study shows that nationally, affordability for potential first-time homebuyers (current renters) declined 19% year-over-year in June 2022. But the range of affordability varies greatly depending on where a potential first-time homebuyer…

Gen-Zers most likely to back off homebuying plans

One in four people say they’ve decided to delay purchasing a home indefinitely. Gen-Z was the most likely generation to halt homebuying plans. Millennials still feel confident that they’ll be able to buy a home. Gen Xers and Boomers were the…

Cornerstone Home Lending acquires Roscoe State Bank

Cornerstone Home Lending has acquired and merged with Texas-based Roscoe State Bank. Together the companies have formed Cornerstone Capital Bank. The new entity will hold more than $380 million in regulatory capital and greater than $1.5 billion…

High mortgage rates equate to less home for your buck

Today’s mortgage rates, which are hovering just under 7%, are impacting how much home a buyer is getting. In some places, especially San Diego, the difference is noticeable. Today, a homebuyer with a $3,000 monthly budget can afford…

July and August home price drops are the largest in 13 years

Median home prices in August fell 0.98% in their second consecutive monthly decline. This is a slight improvement from July’s upwardly revised 1.05% drop. “Either one of the declines would have been the largest single-month price decline…

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loanDepot suspends employee 401K match, ups exec salaries

loanDepot said it plans to “temporarily suspend the employee 401K match program effective October." But still plans to give execs pay raises, HousingWire reported. HousingWire obtained an email from loanDepot CEO Frank Martell, in which he...

Down payments doubled during the pandemic housing boom

The typical U.S. homebuyer who took out a mortgage in July made a $62,500 down payment. That’s up 13.6% from a year earlier and almost twice the average $32,917 down payment in July 2019. Of course, this spike makes it even more difficult…

Mortgage applications plummet to slowest pace since 1997

Mortgage applications fell 14.2% for the week ending September 30 from one week earlier, according to the Mortgage Bankers Association. The Market Composite Index, a measure of mortgage loan application volume, decreased 14.2% on…

Affordable options for first-time home buyers shrink

A new study shows that nationally, affordability for potential first-time homebuyers (current renters) declined 19% year-over-year in June 2022. But the range of affordability varies greatly depending on where a potential first-time homebuyer…

Gen-Zers most likely to back off homebuying plans

One in four people say they’ve decided to delay purchasing a home indefinitely. Gen-Z was the most likely generation to halt homebuying plans. Millennials still feel confident that they’ll be able to buy a home. Gen Xers and Boomers were the…

Cornerstone Home Lending acquires Roscoe State Bank

Cornerstone Home Lending has acquired and merged with Texas-based Roscoe State Bank. Together the companies have formed Cornerstone Capital Bank. The new entity will hold more than $380 million in regulatory capital and greater than $1.5 billion…

High mortgage rates equate to less home for your buck

Today’s mortgage rates, which are hovering just under 7%, are impacting how much home a buyer is getting. In some places, especially San Diego, the difference is noticeable. Today, a homebuyer with a $3,000 monthly budget can afford…

July and August home price drops are the largest in 13 years

Median home prices in August fell 0.98% in their second consecutive monthly decline. This is a slight improvement from July’s upwardly revised 1.05% drop. “Either one of the declines would have been the largest single-month price decline…

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CrossCountry Mortgage launches new home equity loan

CrossCountry Mortgage launched its new home equity solution, the Closed End Second (CES) loan, which turns a home's equity into cash with a smaller fixed-rate second loan. This loan provides the benefits of a cash-out refinance without changing the rate on a...

Milestones, InstaMortgage announce integration

Homeowner portal Milestones announced its integration with InstaMortgage, a tech-driven mortgage lender licensed in 27 states. The launch follows a Series A investment made in Milestones, which closed earlier this year. InstaMortgage will help consumers understand the...

PNC Bank, Blend announce partnership

PNC Bank has teamed up with Blend to digitally optimize the company's end-to-end online mortgage application process for an improved customer experience. The strategic partnership will allow PNC’s customers to digitally apply for a mortgage and import bank or payroll...

The Real Brokerage to acquire LemonBrew Lending

International real estate brokerage The Real Brokerage Inc. announced that it signed an agreement to acquire LemonBrew Lending Corp. LemonBrew Lending is a tech-enabled home loan platform, licensed to provide a full suite of mortgage services across 20 states in the...

Affirm Data, FoxyAI partner to streamline home inspection QC

Global tech and service provider Affirm Data announced a partnership with FoxyAI, a B2B PropTech in real estate visualization and property intelligence, to cut home inspection quality control times by half.  Before the AI-powered home inspection partnership, banking...

Next Moves

Leora Ruzin joins Victorian Finance

Leora Ruzin has been appointed business development engineer at Victorian Finance. Before joining the company, Ruzin was senior vice president of lending for Coloramo Federal Credit Union. Ruzin, a veteran of the U.S. Army, has been working in the mortgage industry...

Dawn Evans joins GenHome Mortgage Corporation

Dawn Evans has been appointed division vice president of production for GenHome Mortgage Corporation in Irvine, California. Before joining the company she was vice president of operations at AT Lending. Throughout her career, Evans has worked for companies that...

Eric Kaplan joins Operation HOPE

Eric Kaplan has been appointed to the role of EVP, Operation HOPE / president, Financial Literacy for All at Operation HOPE. Financial Literacy for All is a national initiative to support embedding financial literacy into American culture. Launched May 20, 2021, the...

Jacquelyn Pardue Cayon joins Freddie Mac

Jacquelyn Pardue Cayon has been named operations change management risk manager for Freddie Mac. Before joining Freddie Mac, Cayon was head of procurement and officer of the women's initiative for LoanCare. Throughout her career, Cayon has worked for organizations...

Sarah Crossley joins Defy Mortgage

Sarah Crossley has been appointed to the role of vice president of marketing for Defy Mortgage. Before joining the company, Crossley was VP of brand strategy for Percy. Crossley brings five years of mortgage industry marketing experience to her post. She started in...

Lynette Hale-Lee joins Planet Home Lending

Planet Home Lending has hired Lynette Hale-Lee as western regional manager. Hale-Lee is a long-time mortgage professional who brings extensive experience to her new role at Planet Home Lending having worked for numerous lenders during her career. Most recently, she...

Tarayn Thurman joins Union Home Mortgage

Tarayn (Finley) Thurman has been appointed to the role of business development - retail recruiter for Union Home Mortgage. Before joining the company, she was senior talent acquisition partner for loanDepot. Thurman started her tenure with loanDepot in January 2019 as...

Audra Agen named senior manager of Accenture Credit Services

Audra Agen, who is the founder and host of the Women in the Arena podcast, has been appointed to the position of senior manager at Accenture Credit Services. Agen brings nearly 20 years of experience in the mortgage and housing sector. She joined Mortgage Cadence, an...

Lisa Van Ess, SHRM – SCP joins ARC Home LLC

Lisa Van Ess, SHRM - SCP has been appointed to the role of vice president - talent & culture for ARC Home LLC. Van Ess brings significant experience building and leading high-performing and award-winning teams, both regionally and globally within the financial...

Sarah Federico joins Gateway Financial Solutions

Sarah (Mahlie) Federico has been named senior vice president - project management at Gateway Financial Solutions. She was previously vice president, principal project manager, strategic initiatives at Flagstar Bank. Federico's career also includes nine years with...

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