Spencer Lee

6 days ago | nationalmortgagenews.com | Spencer Lee

As it adopts a new software-first approach, mortgage technology firm Blend Labs announced it is selling its title insurance unit. After acquiring the Title365 business from Mr. Cooper in a $500 million deal during the mortgage boom of 2021, a new strategic pivot led Blend leaders to the decision to part with its "capital-intensive" title-agency operation, according to company leaders.

6 days ago | nationalmortgagenews.com | Spencer Lee

Serious oversights or inconsistencies appear in one-third of traditional property assessments conducted by human appraisers, resulting potentially several billion dollars worth of financial penalties for lenders. Almost 34% of appraisals had a serious unwarranted condition or quality adjustment that wasn't justified after further examination by artificial intelligence tools, according to a white paper from technology firm Restb.ai.

1 week ago | nationalmortgagenews.com | Spencer Lee

While still healthy by historical norms, home equity growth pulled back over the winter while the share of underwater mortgages showed a widespread pickup across the country. The proportion of seriously underwater properties, defined as when the mortgage balance exceeds a home's value by at least 25%, increased quarter over quarter in 48 states, according to a new report from real estate data provider Attom.

1 week ago | nationalmortgagenews.com | Spencer Lee

Home buyers increased their engagement with digital lending tools earlier this year, resulting in a higher number of interactions and applications as well as shortened turnarounds between pre-approval and loan submission. In the first quarter, borrowers generated 37.8% more pre-approvals than they did over the previous three months, according to the quarterly report from Lenderlogix.

1 week ago | nationalmortgagenews.com | Spencer Lee

Dream Finders Homes touted recent mergers and continued growth momentum in an unsettled economic environment, as its revenues accelerated but profits stalled in the first quarter. The Jacksonville, Florida-based homebuilder and lender posted net income of $54.9 million for the three-month period ending March 31, inching up 0.8% on a year-over-year basis from $54.5 million. Compared to the fourth quarter of 2024, though, the bottom line receded 57.5% from $129.3 million.