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Key insight: Senate Banking Committee Democrats demand that the panel Chairman Tim Scott, R-S.C., call on Pulte to testify before the committee. Forward look: Being in the minority, Democrats cannot compel Pulte to testify on their own. But if either chamber changes hands after this November's elections, Democrats will have subpoena...
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Mortgage servicing platform Valon Technologies announced a $150 million Series D venture capital raise, with the development the latest news highlighting the current industry pivot toward AI software. Processing ContentThe news raises the stakes in the servicing technology battle, with Valon now asserting one of every six U.S. mortgages will be...
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Fitch Ratings has downgraded the mortgage servicing operation at Wells Fargo Home Mortgage as the bank reduced the unpaid principal balance and made a strategy shift towards agency and portfolio loans.Processing ContentThe rating changes are as follows:· Residential primary servicer rating for Prime product to 'RPS2+' from 'RPS1-'/Stable;·...
2026-10-05
Rising interest rates are pushing borrowers to adjustable-rate mortgages, prompting lenders to prepare their offerings and servicers to alert impacted borrowers.Processing ContentARMs accounted for more than 11% of rate locks, their largest share in nearly four years and up more than three percentage points over the past three months, the...
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