Lending

Ally Financial partnering with Better.com to launch digital mortgage platform

Ally now fully back in the mortgage space
Ally Financial, which all but exited the mortgage business back in 2012, got back into mortgages in earnest in 2016. Now, Ally is taking its mortgage business to the next level by going digital with help from Better.com (formerly known as Better Mortgage). Ally and Better announced Thursday that the companies are partnering to launch a digital mortgage platform for Ally.
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Study: Same-sex couples much more likely to be denied a mortgage

And when they do get one, they often pay more
Mortgage lenders may be discriminating against borrowers based on sexual orientation. This is according to a study from Iowa State University, which analyzed 30 million mortgages originated from 1990 to 2015 and found that same-sex couples are 73% more likely to be denied a loan than male-female couples, and that they typically pay more.
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JPMorgan Chase CFO Marianne Lake to lead bank’s consumer lending business

Jennifer Piepszak becomes CFO
JPMorgan Chase is making some changes to its senior leadership. The megabank announced Wednesday that it its current chief financial officer, Marianne Lake, will become the CEO of its consumer lending business, which includes mortgage lending, card services, and auto finance. Replacing Lake as CFO is Jennifer Piepszak, who is currently CEO of the bank’s card services business.
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Quicken Loans will now let Vrbo hosts use rental income to refinance their mortgage

Income generated by short-term rentals will be used in underwriting
A little over a year ago, Airbnb partnered with some of the nation’s largest mortgage players, including Fannie Mae and Quicken Loans, to allow hosts using the short-term rental platform to use income from their rentals to refinance their mortgage. Now, Quicken Loans is at it again; this time partnering with Vrbo to allow users of that platform to use rental income earned through that short-term rental platform to refinance their mortgage.
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Real estate startup Reali acquires online lender Lenda, expands into mortgages

Launches Reali Loans
Reali, a flat-fee real estate startup that operates in California, is following the path laid out by other tech-focused real estate companies like Zillow, Redfin, and Opendoor and getting into the mortgage business. Reali announced Wednesday that it acquired Lenda, an online mortgage lender that launched in 2013 and currently operates in 12 states.
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Ditech says its reverse mortgage business is unprofitable

With continued losses likely, the struggling nonbank says it's weighing its options
Aware that sweeping regulatory changes would likely send the reverse mortgage business into a tailspin, Ditech – then named Walter Investment Management – shut down the HECM origination channel of its subsidiary, Reverse Mortgage Solutions, in 2017. But the company has continued to service reverse mortgages, and it’s not going well. According to a report filed Tuesday with SEC, Ditech's reverse mortgage business is operating at a sizable loss – and this trend isn’t likely to turn around anytime soon.
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MBA: American home purchase activity reaches 9-year high

However, mortgage applications continue to decline as refinances slide
Primarily driven by a decline in refinances, the Mortgage Bankers Association revealed mortgage applications fell further for the week ending April 12, 2019. MBA Vice President of Economic and Industry Forecasting Joel Kan said with mortgage rates up for the second week in a row that it's no surprise that refis slid 8% and average loan sizes dropped back closer to normal levels.
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Here’s how to win the HousingWire Women of Influence award

Some of the top FAQs
It’s that time of year again – the time when we celebrate how women have changed the housing industry, paved a path for those who came after them and continue to lead the industry. But before you nominate your candidate, click the headline to take a look at answers to frequently asked questions and a few tips on how to win the award.
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