Spencer Lee

New York, Seattle

Reporter @NatMortgageNews | Marathoner. Former classical music host | Social media is poison | Alum: @newmarkjschool, @Skift, @WNYC | [email protected]

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Articles

Dark Matter to offer e-close capabilities through Nova LOS

4 days ago | nationalmortgagenews.com | Spencer Lee

Mortgage software provider Dark Matter Technologies is making electronic closing capabilities available on another of its loan-origination systems through a new agreement with Wolters Kluwer. The technology firm will offer e-closings on the Nova LOS platform, a system it added to its product suite alongside its primary Empower origination system in the latter half of 2024.
Dollar value of for-sale listings hits all-time high

5 days ago | nationalmortgagenews.com | Spencer Lee

The combined sum of for-sale listings on the market at the end of April hit a record, with homes both sitting on the market longer and more inventory arriving, according to a Redfin report. The total value of listings came in at $698 billion at month's end, the real estate brokerage said. The amount surged 20.3% from April 2024 to the highest dollar value since Redfin began measuring the data in 2012. The rise comes as supply also grew that month, when inventory expanded 16.7% year over year.
Hurricane risks can raise housing costs but drive down value

6 days ago | nationalmortgagenews.com | Spencer Lee

While the threat of property damage and associated monetary losses resulting from Atlantic hurricanes is well documented, a new study puts numbers on the extent of the risk to homeowners and their communities. Climate scenarios are on the minds of home buyers, influencing where and what they buy as they consider both costs and standard of living. The choices they make will have long-term effects on communities in storm-prone areas.
New proprietary reverse mortgages hit the market this spring

1 week ago | nationalmortgagenews.com | Spencer Lee

With tappable home equity near historic highs and a preference among a majority of baby boomers to remain in their homes, several reverse mortgage lenders have recently launched products to capture the greater opportunity in this part of the market. Demographic trends suggest a market primed for growth and current interest rate levels also make home equity loans appealing.
Congress should restore Trump HUD cuts, local officials say

1 week ago | nationalmortgagenews.com | Spencer Lee

A coalition of elected officials across the country is calling on Congress to continue funding of affordable housing programs targeted for elimination by the Trump administration. Trump's proposed fiscal year 2026 budget calls for the cancellation of the Community Development Block Grant and Home Investment Partnerships programs, both offered through the Department of Housing and Urban Development.
Condos losing appeal among real estate investors

1 week ago | nationalmortgagenews.com | Spencer Lee

While real estate investment purchases are falling into more stable patterns following wild pandemic-era swings, condo activity is lagging, falling to a 10-year low, according to Redfin. U.S. investors bought a total of 46,726 units in the first quarter, up 2% year over year, the real estate brokerage reported. Early 2025 activity recovered from the 3.9% drop in the fourth quarter of 2024.
Tariff fears drive April auto, mortgage borrowing

1 week ago | nationalmortgagenews.com | Spencer Lee

The anticipated impact of tariffs pushed consumers toward big-ticket items in April, but overall borrowing levels also show them becoming more discerning in light of political developments, according to Vantagescore. Researchers noted earlier this year the likelihood of a bump in certain types of purchases before the implementation of various tariff measures proposed by President Trump. Evidence appeared notably in auto lending, but newly originated mortgages also saw an uptick.
Title company sues feds over looming reporting rule

1 week ago | dig-in.com | Spencer Lee

A leading title insurer is suing two federal U.S. offices over a new "arbitrary and capricious" reporting rule aimed at preventing money laundering activity that it claims exceeds their authority. Fidelity National Financial and its similarly named title insurance subsidiary filed the lawsuit in a Florida federal district court in May. Named as defendants were the Department of the Treasury and its Financial Crimes Enforcement Network, commonly referred to as FinCEN, housed within the unit.
Title company sues feds over looming reporting rule

1 week ago | nationalmortgagenews.com | Spencer Lee

A leading title insurer is suing two federal U.S. offices over a new "arbitrary and capricious" reporting rule aimed at preventing money laundering activity that it claims exceeds their authority. Fidelity National Financial and its similarly named title insurance subsidiary filed the lawsuit in a Florida federal district court in May. Named as defendants were the Department of the Treasury and its Financial Crimes Enforcement Network, commonly referred to as FinCEN, housed within the unit.
Foreclosures hit 15-month high in April

1 week ago | nationalmortgagenews.com | Spencer Lee

Foreclosures and distressed mortgage volume came in higher from a year ago after recent servicing policy changes, while prepayments also accelerated last month despite ongoing volatility. Although still low historically, foreclosure filings, including starts, inventory and sales, all ended up higher on an annual basis for the second month in a row in April, according to the latest ICE Mortgage Technology First Look report.