The company offers fixed and adjustable-rate conforming mortgages in 20 states and the District of Columbia. According to Redfin, new buyers can usually get pre-approved for a loan in 90 minutes of less and the company also guarantees 30-day closings or the buyer will receive a $1,000 credit towards closing costs. Originator reports a quarterly net loss of $72 million on revenues of $223 million as first-quarter origination volume declines 8% year over year.
loanDepot reported its eighth consecutive quarter of losses Tuesday evening. The Irvine, Calif.-based lender saw its quarterly production volume fall 13% to $4.6 billion January through March, down from $5.3 billion the previous quarter and $4.9 billion in the first quarter ...
Latest MBA survey shows purchase and refinance applications still lagging, with 17% and 6% respective decreases YOY
Mortgage applications increased 2.6% the week ending May 3, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. The Market Composite Index, a measure of mortgage application volume, increased 2.6% from the week prior on a seasonally-...
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