Another Modest Drop in Mortgage Apps, But Next Week Should Bounce
Mortgage application activity declined for a second consecutive week as higher borrowing costs continued to weigh on both purchase and refinance demand. The Mortgage Bankers Association (MBA) reported a 2.9% decrease in total application volume on a seasonally adjusted basis for the week ending July
UWM downgraded by Fitch after Q2 loss, Oaktree deal
Fitch Ratings downgraded the long-term issuer default ratings of United Wholesale Mortgage (UWM) to B+ from BB-, citing a sharp increase in leverage driven by second-quarter losses and higher borrowings. UWM’s ratings outlook is stable, Fitch said. UWM’s corporate leverage, measured as gross nonfund
REMAX, Keller Williams win final approval of Batton 1 settlement
REMAX and Keller Williams have received final approval of their homebuyer commission lawsuit settlement agreements in the Batton 1 lawsuit. Judge LaShonda Hunt, who is overseeing both of the Batton lawsuits, granted final approval to both settlements this week after a fairness hearing on Tuesday.
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