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Manual income verification is killing your commissions
In a market where every deal counts, manual income verification is the silent killer of commissions.
You know the scenario: the borrower is solid, the property appraises and everything looks good—until income verification turns into a bottleneck. Suddenly, you’re chasing paystubs, waiting on HR reps who don’t call back and explaining delays to a frustrated borrower. Best case, the deal closes late. Worst case? It doesn’t close at all.
Have slightly lower mortgage rates stabilized the housing market?
With all the Fed drama last week, the 10-year yield declined and mortgage rates fell to 6.72%. This small move helped stabilize the market.
As rates dip and policy shifts, is the housing market about to wake up again?
It’s been a strange season for the housing market, caught somewhere between post-pandemic exhaustion and pre-election caution. And yet, in the quiet shuffles of financial markets and whispered policy pivots in Washington, signs are emerging that something may be stirring beneath the surface.
Victor Ciardelli says Rate’s new $100M AI mortgage platform will solve ‘persistent customer challenges’
Chicago-based Rate announced its intentions to grow its market share by launching Rate Intelligence, an AI-driven lending platform.
CFPB finalizes rule that lays the foundation for open banking
The Consumer Financial Protection Bureau (CFPB) has finalized a rule that lays the groundwork for open banking in the U.S. financial system. But this rule has sparked mixed reactions within the industry, reflecting both enthusiasm and concerns. Announced on Tuesday, the new rule mandates that financial providers — including banks and credit card issuers — […]
Prices for FICO scores are predicted to rise — again — in 2025
Wall Street investors and analysts forecast that mortgage credit-score costs will rise in 2025 as lower interest rates may drive an increase in home loan applications. Fair Isaac Corp. (FICO), the company that retains the rights to the market’s widely adopted consumer credit-risk assessment methodology, is expected to raise the price for mortgage credit scores […]
CFPB, senators pledge to look at house-flipping business practices
U.S. senators and CFPB Director Rohit Chopra plan to looking more closely at the practices of house-flipping companies, including HomeVestors.
Renting is much cheaper than owning in these housing markets
The monthly premium to own versus rent in April hit $1,030 per month, compared to $884 per month at the same time last year, according to John Burns Research & Consulting.
A shift in strategy? Rocket Mortgage looks to hire local LOs
Rocket Mortgage is looking to hire local loan officers at a time when the industry remains heavily reliant on the purchase market.
