As employees of the Consumer Financial Protection Bureau (CFPB) sit in home offices awaiting news of their fate, the enforcement landscape has already shifted to state regulators. And if Craig Ungaro’s experience is any indication, the dynamic will pose a very different challenge for independent mortgage banks.
loanDepot on Tuesday reported that its first-quarter 2025 revenue increased by 23% annually to $274 million, while its adjusted revenue was up 21% to $278 million on higher mortgage sales volumes and stronger margins.
Revenues also increased on a quarterly basis, growing from a baseline figure of $257 million and an adjusted figure of $267 million in Q4 2024.
The average closing costs for a refinance mortgage in the U.S. totaled $2,403 last year, or about 0.72% of the loan amount, according to a new report from LodeStar Software Solutions.
The findings mark the company’s first analysis of refinance-specific closing costs. Closing fees ranged widely by location and are influenced largely by state and local taxes.
Following moves to close the Veteran Affairs Servicing Purchase (VASP) program, a bill from a lawmaker who railed against it that seeks to reform the U.S. Department of Veterans Affairs (VA) home loan program with the addition of a partial claim option has picked up support from the Mortgage Bankers Association (MBA).
After a series of severe winter storms and flooding in Virginia that compounded damage sustained from Hurricane Helene last fall, President Donald Trump recently issued a major disaster declaration.
Now the U.S. Department of Housing and Urban Development (HUD) is moving to make disaster aid available for those with Federal Housing Administration (FHA)-insured mortgages.
With sales activity stuck in neutral through the first four months of the year, there’s not much to suggest that the 2025 housing market will be vastly improved from 2023 or 2024. But mortgage leaders and economists are expressing cautious optimism even as the cost of a home loan remains higher than Americans would like.
Four years ago, Cissy Larkin’s husband, Christopher Larkin, was diagnosed with amyotrophic lateral sclerosis (ALS).
United Wholesale Mortgage (UWM), the largest originator in America, produced $32.4 billion in mortgages in the first quarter of 2025, capitalizing on a brief decline in interest rates that spurred a wave of refinance activity. This production volume represents a 17% increase compared to the same period last year, and UWM expects even stronger results in the current quarter.
The Hispanic Organization of Mortgage Experts (HOME) on Tuesday announced the launch of La Reina, the first-ever shoe created for women in mortgage.
La Reina, which is Spanish for “the Queen,” was designed in partnership with AliveShoes and manufactured in Le Marche, Italy.
Refinancing activity is primed for a surge — but not the way we’ve seen in the
past.
It used to be that when rates dropped, demand would stay high for weeks or even
months. Lenders had time to scale up operations and ride the wave. Now, demand
comes in short, sharp bursts, triggered by even the slightest rate drops.
Take April 2025 for example. Mortgage rates briefly fell to 6.61%, their lowest
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