Chicago-headquartered Rate Companies has named Shant Banosian as president of Rate Mortgage. Banosian joined the company (formerly Guaranteed Rate) in 2007 and was most recently executive vice president for sales. According to the company, Banosian has funded over $10...
Mortgage application activity soared for the week ending Feb. 28 thanks largely to corybantic refinance activity, according to data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume,...
Strongsville, Ohio-based Union Home Mortgage (UHM) has acquired Houston-headquartered Nations Reliable Lending, also known as NRL Mortgage. The financial terms of the deal were not disclosed. NRL Mortgage closed over $1 billion in lending in 2024 while UHM closed last...
Oklahoma City-headquartered Bank7 has acquired First American Mortgage Inc., a residential mortgage lender based in Yukon, Oklahoma. The financial aspects of the deal were not disclosed. First American Mortgage has operated since 1993 and facilitated over $3 billion...
Mortgage rates continued to decline, according to the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.76% as of Feb. 27, down from last week when it averaged 6.85%. A year ago at this time, it...
A total of 1.64 million mortgages for residential properties were issued during the fourth quarter of 2024, according to new data from ATTOM. This represents a 3% drop from the third quarter, but it was also a 14% spike from the fourth quarter of 2023. ATTOM noted...
