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UBS to shut down US mortgage trading

UBS Group AG is shutting down a business in its US mortgage unit that focuses on “to-be-announced” trading. The business involves forward sales of these securities. UBS has reportedly been moving toward a new business strategy focused…

Companies accuse EPM of not paying rent

According to reports, two property companies have filed rent-related lawsuits against Equity Prime Mortgage LLC. The lawsuits were filed in Florida and Missouri. Landlords have accused EPM of not paying rent for office spaces…

Fitch puts Fannie & Freddie on negative ratings watch

Fitch Ratings has put Fannie Mae’s and Freddie Mac’s credit ratings on Rating Watch Negative (RWN). This means they’re on warning for a possible downgrade. Fitch took this action after placing the U.S. on RWN, a warning that the country’s…

Lender shopping could save borrowers $100 or more per month

Price dispersion (when different sellers price the same goods at different prices), in mortgages “is often around 50 basis points” of the APR, the study found. In today’s market, that can add up to a difference of $100 per month for a $300,000 loan…

Average monthly mortgage payment goes up for 4th straight month

The median payment that buyers applied for increased from $2,093 to $2,112 in March, according to the MBA’s Purchase Application Payment Index. A year ago, the same index calculated the median payment to be $1,889. This marks an 11.8% jump from April 2022…

Colonial Savings to leave mortgage business

Another financial institution is getting out of mortgage originations. Texas-based Colonial Savings, F.A. announced that it would stop its mortgage origination business effective July 31, 2023. It cited “changing market dynamics and…

Credit cardholder confidence inches up in May

Credit cardholders’ are feeling slightly more confident they can pay their full credit card balances this month. This is the first uptick seen in cardholder confidence after three months of no change, according to…

Mortgage application volume falls nearly 5%

Purchase applications fell 4% from the week before, and are 30% below numbers from this time last year. Refinance applications dropped 5% from the previous week and are 44% lower than the same week in 2022…

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UBS to shut down US mortgage trading

UBS Group AG is shutting down a business in its US mortgage unit that focuses on “to-be-announced” trading. The business involves forward sales of these securities. UBS has reportedly been moving toward a new business strategy focused…

Companies accuse EPM of not paying rent

According to reports, two property companies have filed rent-related lawsuits against Equity Prime Mortgage LLC. The lawsuits were filed in Florida and Missouri. Landlords have accused EPM of not paying rent for office spaces…

Fitch puts Fannie & Freddie on negative ratings watch

Fitch Ratings has put Fannie Mae’s and Freddie Mac’s credit ratings on Rating Watch Negative (RWN). This means they’re on warning for a possible downgrade. Fitch took this action after placing the U.S. on RWN, a warning that the country’s…

Lender shopping could save borrowers $100 or more per month

Price dispersion (when different sellers price the same goods at different prices), in mortgages “is often around 50 basis points” of the APR, the study found. In today’s market, that can add up to a difference of $100 per month for a $300,000 loan…

Average monthly mortgage payment goes up for 4th straight month

The median payment that buyers applied for increased from $2,093 to $2,112 in March, according to the MBA’s Purchase Application Payment Index. A year ago, the same index calculated the median payment to be $1,889. This marks an 11.8% jump from April 2022…

Colonial Savings to leave mortgage business

Another financial institution is getting out of mortgage originations. Texas-based Colonial Savings, F.A. announced that it would stop its mortgage origination business effective July 31, 2023. It cited “changing market dynamics and…

Credit cardholder confidence inches up in May

Credit cardholders’ are feeling slightly more confident they can pay their full credit card balances this month. This is the first uptick seen in cardholder confidence after three months of no change, according to…

Mortgage application volume falls nearly 5%

Purchase applications fell 4% from the week before, and are 30% below numbers from this time last year. Refinance applications dropped 5% from the previous week and are 44% lower than the same week in 2022…

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FormFree divests asset-verification service AccountChek

Fintech FormFree announced its strategic divestiture of asset-verification service AccountChek. Moving forward, the company will focus on products that advance its mission to decentralize and democratize the way consumers understand their financial data and access...

Down Payment Resource partners with HomeScout LLC

Down Payment Resource announced that it has partnered with HomeScout LLC to help mortgage lenders generate and convert more leads by meeting heightened consumer demand for information about affordable pathways to homeownership. With affordability...

Avidia Bank implements SimpleNexus closing solution

SimpleNexus announced that Hudson, Massachusetts-based Avidia Bank has implemented Nexus Closing™ to offer its customers the convenience of “from anywhere” home financing tools. A mutual savings bank with $2.3 billion in assets under management,...

LenderLogix launches LiteSpeed POS

Mortgage automation software company LenderLogix launched LiteSpeed, a streamlined point-of-sale (POS) system designed for small to mid-size lenders. LiteSpeed delivers lenders the essential POS functionality they need to compete in today’s digitally-driven market at...

DEN Outdoors raises $3m in seed funding round

Home design and construction management company DEN Outdoors announced the close of its seed funding round, raising a total of $3 million. Co-led by Gutter Capital and Crossbeam Venture Partners, the financing allows DEN to continue innovating across the home design...

Curbio launches mobile app

Curbio, Inc., the pay-at-closing home improvement solution for the real estate industry, announced the launch of its new mobile app. The app allows real estate agents and home sellers to instantly get estimates for pre-listing home improvement costs and...

Plunk partners with three emerging real estate firms

Analytics platform Plunk announced a partnership with Calque, Drop-Offer and SphereBuilder™—three emerging companies who are uniquely positioned to transform the residential real estate industry with their innovations for mortgage lending, housing inventory,...

Next Moves

Stephanie Holdsworth named COO of Nationwide Appraisal Network

Stephanie Holdsworth has been appointed to the role of chief operating officer for Nationwide Appraisal Network (NAN). She joined NAN in January 2021 as senior vice president of client experience. Holdsworth brings extensive executive-level experience within the...

Kristal Sharp, CSM® joins LendArch

Kristal Sharp, CSM, has been appointed to the role of head of advisory services at LendArch, a mortgage technology and consultancy startup founded by former loanDepot COO Tammy Richards. Before joining LendArch, Sharp was with loanDepot for three years. She started...

Cindy Snow joins Core10

Cindy Snow has been appointed to the role of VP of customer success at Core10. Before joining Core10, she was fintech client strategy consultant for MX. Snow was chief operating officer at FormFree. She had joined the company as product manager and was promoted to...

Renée Blackwell-Hildebrand joins Cardinal Financial

Renée Blackwell-Hildebrand has been appointed to the role of SVP strategic growth at Cardinal Financial Company. Before joining the company, she was senior vice president at Bay Equity, a role she held for over four years. Blackwell-Hildebrand brings extensive...

Christy Soukhamneut joins Texas Capital Bank

Christy Soukhamneut has joined Texas Capital Bank as SVP, mortgage finance. A seasoned mortgage executive, Soukhamneut is also on the board of directors for several organizations, including the Mortgage Bankers Association of Georgia, Voxtur, TRAiNED, and Beneath the...

Bonnie Salus named vice president home lending manager at Chase

Bonnie Salus has been appointed to the role of Vice President home lending manager at JPMorgan Chase. She joined the company in 2020 as home lending relationship manager, before being appointed to the role of VP education & counseling market manager. Salus brings...

Linda Vo achieves CMB designation

Linda Vo has obtained the certification of Certified Mortgage Banker (CMB) from the Mortgage Bankers Association. Vo is national strategic partnerships at FBC Mortgage. She has extensive experience in mortgage lending, and has worked with companies that include Citi,...

Jackie Oliver joins Sagent

Jackie Oliver has been named SVP risk & change management at Sagent. Before joining the company, she was SVP/associate general counsel for Mr. Cooper, a position she held for nine years. Oliver's career also includes work as associate general counsel at Fannie Mae.

Shannon Baldwin joins Percy AI

Shannon Baldwin has been named VP, marketing at Percy AI. She was previously VP of marketing at Mortgage Coach. Baldwin brings over a decade of mortgage industry experience. Before her tenure at Mortgage Coach, she was with corporate event manager with Optimal Blue, a...

Heidi Belnay joins Blend

Heidi Belnay has been appointed to the role of account partner - strategic (non-bank) at Blend. She was previously partnership manager at Reggora. Belnay brings nearly a decade of mortgage and housing industry experience to her new role. Prior to her work with...

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