Mortgage

Ousted Better.com founder Vishal Garg says he has secured majority shareholder backing and retained attorney Alex Spiro to retake the mortgage lender’s board. The company fired back, calling him a “terminated CEO” and disputing his account of events.

Outstanding home equity line of credit balances rose $13 billion in the second quarter, the 17th straight quarterly increase, as owners lock in low mortgage rates and borrow against equity instead, the New York Fed reports.

The 30-year fixed mortgage rate eased to 6.67% this week, down from 6.69%, as Freddie Mac says borrowers continue responding to even modest rate changes.

The Justice Department and Rocket Mortgage have jointly asked a federal court in Colorado to pause a closely watched appraisal-discrimination lawsuit while the two sides pursue a settlement, according to court filings entered July 31 in the U.S. District Court for the District of Colorado. In two joint motions — one requesting a settlement conference … Read more

Mortgage servicer NewRez LLC will pay $15.5 million to resolve a multistate examination that found the company improperly charged force-placed insurance to more than 4,200 borrowers nationwide who already had active homeowners insurance policies, the Arkansas Securities Department announced August 12. Force-placed insurance is coverage a mortgage servicer buys on a borrower’s behalf, at the … Read more

Mortgage applications fell 6.6% in July and posted their first year-over-year decline in two years, according to MBA’s monthly composite data, as the average 30-year fixed rate climbed to 6.70%.

The Consumer Price Index rose 3.4% annually in July, an in-line reading that gives the Fed room to hold rates steady and eases near-term pressure on mortgage rates, which sit near 2026 highs.

All seven residential mortgage categories saw weaker demand in Q2 2026 even as lending standards mostly held steady, new Federal Reserve survey data analyzed by NAHB shows, with subprime the lone category still tightening.

CrossCountry Intermediate HoldCo priced $750 million of 7.750% senior notes due 2031, the third such offering in under a year aimed at paying down CCM’s mortgage servicing rights credit line.

U.S. mortgage holders held a record $18 trillion in home equity as of the second quarter, even as delinquencies and active foreclosures climbed to their highest levels in years, according to ICE’s August Mortgage Monitor report.

Mortgage rates could swing this week depending on Wednesday’s Consumer Price Index report, which Redfin economists say could decisively shift the odds ahead of the Federal Reserve’s Sept. 16 meeting.

TPG Mortgage Investment Trust will acquire Cherry Hill Mortgage Investment Corp. in a stock-and-cash deal valued at $117.5 million, creating a combined residential mortgage REIT with about $9 billion in assets.

The U.S. economy lost 23,000 jobs in July, and the prior two months were revised sharply lower, the Bureau of Labor Statistics reported Aug. 7. The unemployment rate held at 4.1%, but the combination of a payroll decline and steep downward revisions points to a labor market that is cooling faster than headline numbers first … Read more

Rocket Companies posted its most profitable quarter in four years even as its chief executive described the spring housing market as one of the toughest in years, the Detroit-based mortgage lender announced Aug. 6. The company reported second-quarter net revenue of $2.78 billion and adjusted revenue of $2.76 billion for the period ended June 30, … Read more

UWM Holdings raised $2.05 billion from Oaktree Capital and the Ishbia family after a $451.9 million second-quarter loss tied to its failed Two Harbors bid, and suspended its dividend to prioritize debt reduction.

The MBA’s weekly survey shows the 30-year fixed rate climbed to 6.81%, its highest level in over a year, as overall mortgage application volume fell 2.9% in the week following the Fed’s July policy meeting.

Fannie Mae and Freddie Mac are retiring the streamlined condo loan-review option for applications dated Aug. 3, 2026, and later, pushing more condo buildings into full financial and structural reviews as reserve requirements rise in 2027.

Better Home & Finance Holding Company named board member Daniel Lewis interim CEO, succeeding founder Vishal Garg, as the online mortgage lender reports preliminary Q2 results and accelerates cost cuts.

Two Florida homebuyers filed a class action July 29 accusing LGI Homes, loanDepot and their mortgage joint venture of hiding true home costs and steering renters into loans they could not afford.

OriginPoint has hired loan officers Erin Halliday and Jon Levin, a $165 million-a-year production team, from New American Funding to grow its presence in California and Hawaii.

JPMorganChase will deploy $750 billion through 2035 under its American Dream Initiative, aiming to finance 1 million affordable housing units and help 500,000 people buy homes, including 200,000 first-time buyers.

Two Harbors Investment Corp.’s $11.30-a-share cash sale to CrossCountry Mortgage, which beat out a rival UWM bid, was delayed past its planned Aug. 3 closing pending one final state regulatory approval.

Blackstone will pay roughly A$36 billion for HSBC’s Australian home loan book, the largest residential mortgage portfolio transaction on record, as HSBC retreats from Australian retail banking.

Permanent loan modifications on Fannie Mae and Freddie Mac loans rose 4.7% in April even as total foreclosure-prevention actions fell 8.7%, FHFA data shows, as the GSEs shift toward shorter forbearance periods.

The Fed’s preferred inflation gauge fell 0.1% for the month in June, the first monthly decline in six years, even as annual PCE inflation stayed at 3.7% and the personal saving rate dropped to its lowest since 2022.

The OCC and FDIC proposed amendments to Community Reinvestment Act rules that would exempt banks under $10 billion in assets from certain reporting requirements and narrow which retail banking services count toward CRA credit.

The 30-year fixed mortgage rate climbed to 6.66% this week, its highest level in a year, as Freddie Mac’s weekly survey showed borrowing costs extending a multi-week climb.

The Federal Reserve held its benchmark rate steady on July 29 in a 9-3 vote, with three officials pushing for a hike — an unusually hawkish split that leaves mortgage rates likely to hold near current levels into the fall.

Redwood Trust finalized a joint venture giving its Aspire mortgage banking platform up to $8 billion in purchasing power, as the company’s overall mortgage production topped $8 billion for a second straight quarter.

Freddie Mac’s second-quarter net income climbed 61% from a year earlier to $3.8 billion, lifting the mortgage giant’s net worth to $78 billion as it keeps building capital toward eventual release from federal conservatorship.