loanDepot Inc. (NYSE: LDI) is teaming with the homebuilder Onx Homes on a new joint venture to provide financing for new homebuyers in Florida and Texas. The venture, named Onx X+ Mortgage, will be headquartered in Georgetown, Texas. In a statement, the companies said...
Mortgage application activity was on the rise in the latest data from the Mortgage Bankers Association (MBA) for the week ending Jan. 31. The Market Composite Index, the MBA’s measure of mortgage loan application volume, inched up 2.2% on a seasonally adjusted basis...
The president of a California mortgage company was arrested for allegedly driving drunk and causing the vehicular death of an 88-year-old man. ABC News reports that Serene Vernon, president of OCMBC Inc., was arrested on suspicion of driving under the influence and...
Houston-headquartered Cornerstone Capital Bank has debuted a Community Lending Division with the goal of expanding homeownership opportunities for underserved communities across the nation. The new division will be based in Arlington, Texas, and the bank stated it...
The governor of the Bank of England has issued a warning that proposals by the UK government to relax limits on riskier mortgage lending could start a new wave of home repossessions. The Financial Times reports that Andrew Bailey warned Parliament that he was “very...
Mortgage rates remained elevated in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.95% as of Jan. 30, down slightly from last week when it averaged 6.96%. A year ago at this time, it...
