Private mortgage insurance fueled 800K low down payment home purchases in 2023

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 (U

Rate adds Manginelli to lead sales coaching program

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 pr

Mr. Cooper to issue $750M in debt following M&A deal with Flagstar

Mr. Cooper Group has priced the issuance of $750 million in debt to refinance outstanding mortgage servicing rights (MSR) facilities, an announcement that comes only four days after making public its billion-dollar acquisition of Flagstar Bank‘s servicing assets.On Monday, the mortgage lender and se

Case-Shiller home-price index hits another all-time high

Another month, another all-time high for home prices.The S&P CoreLogic Case-Shiller Home Price Index for May jumped by 5.9% year over year, the third month in a row that the index has posted a new record. While the pace of annualized growth dropped slightly compared to April, the year-to-date growth