Rate Sensitive Borrowers Are Causing Rate Lock Volume To Jump 43%. Are Borrowers About To Go Into Panic Mode? Rate lock volume jumped 43% in March. Some experts say this is due to market conditions. Lock volumes increased across the board. This was led by purchase locks jumping 44% in March. This was above the […]
FDIC To Gradually Auction $114B In MBS Seized From Failed Signature Bank and Silicon Valley Bank The FDIC has decided to sell a portfolio of $114 billion in mortgage-backed securities (MBS). The FDIC seized control of the MBS portfolios after taking control of Signature Bank and Silicon Valley Bank. The face values of SVB’s portfolio is approximately […]
FDIC Will Protect Silicon Valley Bank Depositors But Federal Reserve Rules Out Bailing Out Bank FDIC has stepped up to protect deposit holders of Silicon Valley Bank Authorities said on Sunday that it would protect depositors. Depositors will have access to all of their money on Monday. However, the Federal Reserve has ruled out giving […]
loanDepot Budget Cuts Aren’t Stopping Hemorrhaging Losses As Company Sees 38% Loss In Revenue For 4th Quarter loanDepot budget cuts and significant expense reductions don’t seem to be working. The lender keeps lost money even after exiting the wholesale channel and cutting thousands of jobs. loanDepot reported heavy losses for both the fourth quarter of […]
Impac Mortgage Holdings Is Going Broker. Company Says Desperate Times Require Drastic Changes Starting With Winding Down It’s TPO Channel Impac Mortgage Holdings is going broker. The company announced major changes Wednesday. It said it was converting to a mortgage broker model. In addition, Impac announcing plans to “wind down” its third-party origination channel. It […]
Speak to a specialist at (888) 737-6344
Subscribe to our weekly newsletter below and never miss the latest product or an exclusive offer.
