Fannie Mae recorded $4.5 billion in net income in the second quarter, pushing its net worth to $86.5 billion as of June 30. Its net income was up only $164 million from the first quarter, despite a large uptick in purchases of single-family mortgages. Fannie Mae purchased $85.9 billion in…
Continue reading →As Federal Reserve policymakers meet this week amid a high likelihood they’ll keep benchmark interest rates unchanged, the recent downward movement in mortgage rates leveled off. HousingWire‘s Mortgage Rates Center showed that the average 30-year conforming loan rate was at 7.01% on Tuesday. That figure was unchanged from the same…
Continue reading →Perchwell, a New York City-based real estate data firm that works with MLSs, brokers and agents, announced Tuesday that it has raised $25 million in a Series B financing round. The financing round was led by Lux Capital, which also participated in the company’s Series A round. The newest round…
Continue reading →As the mortgage and real estate markets continue to face challenges, nearly 800,000 low down payment home purchases in 2023 leveraged private mortgage insurance (PMI), with first-time homebuyers accounting for 64% of the total. This is according to a new report published by U.S. Mortgage Insurers (USMI). “Private mortgage insurance…
Continue reading →Rate has hired a new head coach. The Chicago-based mortgage lender announced Tuesday that it’s bringing on Daniel Manginelli to lead its sales coaching program, which is designed to help mortgage professionals implement best practices and improve performance. According to the company, the coaching program for salespeople makes Rate one…
Continue reading →