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United Wholesale Mortgage announced the rollout of two artificial intelligence-powered tools designed to give mortgage brokers an added edge in competing for and retaining borrower business.One of the tools is an AI-powered voice bot named Mia, which acts as a personal assistant for brokers. The other tool, called LEO, helps brokers present more competitive loan offers to borrowers than those offered by rival wholesale lenders.Chatbot Mia, announced at the UWM LIVE! event Thursday, functions as a loan officer assistant that works around the clock to field client questions, schedule appointments and take messages for UWM broker partners. "By doing so, brokers never have to worry about answering or missing a call," the company said in a news release. But it also helps with consumer retention via Mia's outbound call capabilities.The voice bot, built by UWM's in-house technology team, can contact consumers 20 days after a loan closes to remind them of their first mortgage payment, check in with past borrowers 180 days after closing, and notify them when rates drop for refinancing opportunities."Consistent follow-up with past clients is one of the biggest challenges loan officers face, and Mia handles that for them," said Mat Ishbia, CEO of UWM, in a statement. "All of this allows clients to scale in a way that's never been seen in this industry or any other industry."Meanwhile, the LEO tool, also announced during UWM's annual event, allows brokers to drag and drop a competitor's loan estimate into the company's ChatGPT-powered platform. The system then generates opportunities to beat the competitor's offer and provides brokers with talking points to help them initiate a conversation about a counterproposal with the client.Ishbia compared the tool to "having the most intelligent LO in America review a loan estimate and tell you how to beat it." "We already know brokers are the best choice for consumers, and LEO equips them with the tools and insights they need to succeed in a matter of seconds, giving them the competitive edge they need to win every loan," he added in a statement. The two technology rollouts Thursday follow a previously announced suite of six other technology enhancements, including the introduction of a pipeline that helps brokers manage their past client contact information, even if the borrower wasn't previously originated with UWM.Most recently, Ishbia announced goals of doing $280 billion in production by 2028. The number is double the $139.4 billion the wholesale lender originated in 2024.Technology tools aimed at consumer retention, which results in repeat consumers may be part of the business strategy to notably increase loan volume at the mortgage shop.

New-home purchase activity is showing renewed strength this spring, with loan applications hitting their highest mark on record, according to the Mortgage Bankers Association.Mortgage applications for newly constructed single-family homes in April accelerated 5.3% from a year ago, the industry trade group said. On a month-over-month basis, loan volume increased a nonseasonally adjusted 2% from March.  "The applications index reached its highest level in the survey's history dating back to 2012," said Joel Kan, MBA's vice president and deputy chief economist, in a press release. "Despite the ongoing economic uncertainty and mortgage rate volatility, April was a strong month for new-home purchase activity, with applications posting an annual gain for the second straight month," he added. April's elevated activity followed the previous month's annual rise of 5.5%, while volume between February and March leaped 14%. Recent numbers reflected a significant rebound from a pullback in February when year-over-year lending activity retreated for the first time in almost two years.  A growing number of new constructions on the market helped push buyers to the table, as builders attempted to offload supply amid macroeconomic challenges, Kan remarked. "As the unsold inventory of new homes continues to grow in many parts of the country, reduced buyer competition and pricing pressures supported more buying activity over the month," he said. The average loan size on new-home purchase applications decreased to $376,992 in April from $381,921 in March.Federal Housing Administration-backed loans, often attractive to first-time buyers searching for  affordable properties, continued to increase their market share, expanding to a survey high 39.2% of total volume. FHA loans garnered 37% one month earlier. Meanwhile, conventional mortgages accounted for the largest slice of the total, with 46.4% of all applications in April, down from 49% in March, MBA said. New-home mortgage applications coming from the Department of Veterans Affairs represented a 13.5% share in April, up from 13% the previous month. U.S. Department Agriculture-backed activity took 0.9%, the same as in March. Elevated buyer interest led the  estimated volume of annual new-home sales to jump up to a seasonally adjusted 718,000 units last month, rising 14.1% from 629,000 in March.   Unadjusted monthly sales totaled 65,000 units in April, 6.6% higher from 61,000 in March, MBA said. Why homebuilders are pessimistic despite the upswingWhat appears to be positive news for lenders may mask problems for homebuilders and the rest of the housing market, though.  More than one-third of builders said they resorted to price cuts this month to attract customers, the highest share since late 2023. The latest number is up from 29% in April, according to the National Association of Home Builders. Economic pressures, notably the ongoing threat of tariffs, led construction industry sentiment to plummet in May, NAHB's monthly homebuilder survey showed. Its index fell to a reading of 34  — the lowest in over two years — as the spectre of tariffs clouded future outlook. However, the majority of data was collected prior to a temporary pullback earlier this week of the highest rates imposed on China, the association advised.   "Policy uncertainty stemming in large part from the stop-and-start tariff issues has hurt builder confidence, but the initial trade arrangements with the United Kingdom and China are a welcome development," said NAHB Chief Economist Robert Dietz. "Still, the overall actions on tariffs in recent weeks have had a negative impact on builders, as 78% reported difficulties pricing their homes recently due to uncertainty around material prices," Dietz added. In recent earnings calls of the largest publicly traded homebuilders, several executives reported to increase their prices on new constructions later this year as a direct result of tariffs on imported materials. Sales conditions and expectations for future transactions dragged NAHB's index downward. Builders also reported more pessimism surrounding customer traffic compared to April. 

WASHINGTON — As congressional Republicans try to pull together what President Donald Trump calls his "big, beautiful bill," House committees scrambled to put together their own version of the tax legislation this week. The bill that passed out of the House Ways and Means Committee after an overnight markup is the first comprehensive insight into what Republican lawmakers — who will be the deciding votes on whatever final bill emerges from the House Budget Committee — are thinking on broader tax measures that could also affect banks.The tax portion of the bill passed out of the House Ways and Means Committee is separate from a spending section passed earlier this month by the House Financial Services Committee, which promised to slash the Consumer Financial Protection Bureau spending by roughly 70% among other measures. Financial regulators have typically been exempt from these big budget contests since their agencies tend to be self-funded, but Republican ire over the CFPB, a tough budget backdrop and the Trump administration's determination to downsize agencies is making this fight more relevant to the industry. And this is an opening salvo, rather than a final product. The bill is still too pricey to please many of the toughest GOP budget hawks, and it's likely that many measures will be tweaked or changed entirely in the coming weeks. Here are the top measures for bankers to watch for. 

Fannie Mae has announced plans to discontinue use of a platform used to handle certain distressed mortgage processes and is directing mortgage professionals using it to take certain steps in response.Servicers must leave the HomeSaver Solutions Network, which is utilized for loan workout reporting functions, and transition to a broader platform Fannie provides to handle default management before a deadline later this year.Why Fannie Mae is ending use of HomeSaver Solutions NetworkFannie's discontinued use of HSSN is in line with far-reaching efficiency reviews at the government-sponsored enterprise at the direction of its regulator, Federal Housing Finance Agency Director Bill Pulte, and the Trump administration's broader aims."As a part of our commitment to streamlining servicing, HSSN loss mitigation workout reporting functionality will transition to Fannie Mae's Servicing Management Default Underwriter platform," the GSE said in a servicing notice. "All workout reporting activities will be managed by SMDU."Pulte said earlier this month in one of his social-media posts that reforming automation at Fannie and its competitor is a priority for him as their regulator and conservator."So much money has been WASTED at Fannie Mae and Freddie Mac in the last four years on so called 'technology,'" Pulte said in an X post in which he also pledged to do "a full review" of their automation spending and realign automation so that its use is more efficient and effective.Under Pulte, the FHFA also has shown interest in making distressed mortgage servicing more efficient, recently directing Fannie to end a strategy used to manage foreclosure properties based on what the agency found to be financial and operational drawbacks.Why this is the second attempt to transition away from the networkFannie Mae had originally planned to have mortgage professionals transition away from HSSN by the end of 2020, but the enterprise postponed the move in May of that year due to feedback from servicers during the pandemic.Fannie said it has wanted to move away from HSSN and use the broader default management system because the latter has better policy alignment."SMDU offers much more for your workout reporting needs. It not only allows you to report a workout to Fannie Mae (same as HSSN), but it also follows Fannie Mae's servicing guide regarding workout eligibility and workout case structuring (unlike HSSN)," the GSE said.Action items for servicers still using HSSNSeveral functions related to loss mitigation for distressed mortgages will no longer be available through the network later this year, so servicers who haven't already stopped using it must move to SMDU by then, if not sooner.The following functions will no longer be available through the network starting on Dec. 1.Creating, submitting, updating, or closing loan mod-cases, including reporting associated with trial period plan paymentsSubmitting or creating cases for a deed-in-lieu of foreclosure, short sale, chargeoff, second-lien consideration or other workout optionClosing any approved casesCanceling any loan modification casesEntering a trial period data request Viewing previously generated letters related to a workout caseUploading documents that are part of a workout caseAlso users will generally no longer be able to query workout case details through the HSSN.However, some information such as delinquency status, reclass transactions and reports will still be available through Fannie's Asset Management Network where HSSN has resided. (HSSN is a series of links within AMN.)

Dark Matter executives confirmed the company has undergone a reduction in force, as the company sets its next phase in motion.As a standalone company, Dark Matter has only existed for about 20 months.On Sept. 15, 2023, what had been the Black Knight origination technology business, primarily its Empower loan origination system, was sold to a unit of Constellation Software and rebranded as Dark Matter Technologies. This was a requirement of Black Knight's purchase by Intercontinental Exchange, which operates the Encompass LOS.In April, Sean Dugan moved up to CEO at Dark Matter with Rich Gagliano, its CEO since inception, becoming executive chairman.The layoffs were first reported in a Housing Wire article.Why Dark Matter is reducing staffThe move was a necessary step for Dark Matter to align the size of its workforce with current market realities, Dugan said in a statement."Saying goodbye to valued team members is never easy," said Dugan. "These individuals have made meaningful contributions to our growth and success, and we're committed to supporting them during this transition with resources and assistance in the weeks ahead."The downsizing also reflects the evolving structure of Dark Matter, he continued.Earlier this year, Dark Matter migrated its Empower and Nova loan origination systems onto Amazon Web Services to complete its break from Black Knight; it also brought the Mortgage Builder CMS Servicing software under its banner."As a newly independent company, Dark Matter initially retained a larger team from Black Knight than we ultimately needed," Dugan said. "Integrating the Nova team added further talent and some natural overlap."Dark Matter did not disclose the number of employees affected by the move at press time.

The title insurance industry began its recovery last year from its massive skid at the end of the refinance boom. Companies generated $16.2 billion in title insurance premiums in 2024, a 7% annual increase, the American Land Title Association reported Thursday. The positive momentum follows year-over-year premiums written declining 31% in 2023 and 16% in 2022. The industry underwrote $26.2 billion in title insurance in 2021. The business is highly correlated to mortgage origination volume, which grew to approximately $1.7 trillion last year after bottoming out in 2023, according to the Mortgage Bankers Association. Title insurers also paid over $676 million in claims last year, a 6% climb from 2023 and the highest mark in recent years."Despite ongoing challenges from limited housing inventory and elevated mortgage rates, title professionals remain steadfast in their role — protecting property rights and serving their communities," said ALTA CEO Diane Tomb in a press release. Why were title insurers doing better in 2024?Most of the sector's top companies recorded greater profits in 2024, with firms enjoying increased volume from a mortgage rate respite last summer. Industry giants were also profitable to begin 2025, although executives warned of looming tariff-driven uncertainty.The country's most populous states, the priciest places to purchase a home, made up the remaining top 5 largest states by title insurance volume: Florida, California, New York and Pennsylvania. Including Texas, the top 5 states by title insurance volume accounted for 45% of all activity, according to ALTA's figures. First American was the largest player in the industry with a 22.2% market share. Like other firms among the top 10 underwriters, its market share was largely unchanged from 2023. Old Republic fell to the third spot on the ranking, with a market share of 14.3%, down from 15.2% last year.The industry faces some threats, chiefly Fannie Mae's title insurance waiver pilot program. The pilot has received backlash from numerous angles, although new Fannie Mae chairman and Federal Housing Finance Agency Director Bill Pulte has yet to discuss its future. A Texas regulator in February also ordered a 10% decrease in title insurance premiums in the state effective this July. Nationwide, title insurers wrote the most premiums in the Lone Star State, with $2.37 billion or 4.7% of total volume.

While the 30-year fixed rate mortgage remained under 7% for the 17th consecutive week according to Freddie Mac's calculations, it increased 5 basis points as the bond markets remain volatile over the U.S. economy.This and other measurements moved in the same direction with the yield on the 10-year Treasury, which rose 25 basis points between May 7 and May 14.In fact, two of the trackers National Mortgage News looked at are showing rates above 7%.How mortgage rates moved this weekThe 30-year FRM averaged 6.81% as of May 15, up from last week's 6.76%, the Freddie Mac Primary Mortgage Market Survey said. A year ago at this time, it was at 7.02%.Meanwhile, the 15-year FRM had a smaller jump, just 3 basis points to 5.92%, versus 5.89% last week. For the same week in 2024, it averaged 6.28%.The 10-year Treasury was down 5 basis points as of 11 a.m. on Thursday morning, likely because of the Producer Price Index report, to 4.48% from 4.53% at its close on Wednesday.But from its close of 4.28% on May 7, the yield steadily climbed over the week, with some trackers going back over the 7% level for the 30-year FRM. How inflation data affected bond yieldsThe good news that the PPI dropped 0.5% in April from March and gained 2.4% annually followed Tuesday's Consumer Price Index report, which was also perceived as positive regarding inflation, rising 0.2% from the previous month and 2.3% over April 2024.The early take from these reports is that the tariffs are not inflationary right now."While an encouraging CPI report for the Federal Reserve, policymakers are likely to wait for additional clarity on the evolving tariff landscape before making decisions on future rate cuts, especially with the labor market holding steady," Sam Williamson, an economist with First American Financial, said in a Tuesday statement.Even with the CPI news, the bond market is in charge, as the core numbers were sticky and this kept yields elevated, said Nigel Green, CEO of financial advisory the deVere Group."With 10-year Treasury yields hovering near 4.5%, financial conditions are already tightening," Green said in a Tuesday statement. "Add aggressive tariffs into that mix and you risk tipping the economy into deeper volatility."The Federal Open Market Committee is expected to remain cautious as a result of the CPI news, Samir Dedhia, CEO of One Real Mortgage, added on Tuesday."Markets are now pricing in fewer rate cuts for 2025, which means mortgage rates will likely stay in the 6.5% to 7% range for now," Dedhia said. "Affordability challenges persist, especially as housing costs remain stubbornly high."Other mortgage trackers rise above 7%Lender Price data as posted on the National Mortgage News website put the 30-year FRM at 7.015% at that time.Zillow's rate tracker was up 2 basis points on the day, to 7.07% from 7.05% at the end of Wednesday. This compared with the previous week's average of 6.96%.As of Wednesday, data from Optimal Blue had the conforming 30-year fixed at 6.885%, as the rate rose steadily from 6.76% on May 7.The Mortgage Bankers Association's Weekly Application Survey released on Wednesday, reported the 30-year conforming FRM averaging 6.86% for the period ended May 9, up 2 basis points from the prior week.Rising inventories have supported a boost in homebuyer demand in recent weeks, with purchase applications up 2% last week and an impressive 18% compared to last year," Bob Broeksmit, president and CEO, said in a Thursday morning comment on the survey. "MBA expects activity to pick up even more if mortgage rates move further below 7%."The MBA's own April forecast expected the 30-year to average 7% for the current quarter.Right now, many observers are expecting rates to end the year in the mid-6% area, including Fitch Ratings, who is looking at 6.5%."Mortgage rates look prepared to stay sticky in the 6.75%-7.0% area with the 10-year now approaching 4.5%, and expectations for rate cuts through year-end getting trimmed slightly," BTIG analyst Eric Hagen wrote in his May 13 Mortgage Finance Roundup."Macro uncertainty and growing calls for recession put a direct spotlight on the path for home prices, especially if mortgage rates move higher," Hagen wrote. Homes.com just reported four consecutive months of diminishing annual home price increases.

As federal budget negotiations intensify, some policymakers have floated deep cuts to the Housing Choice Voucher Program, better known as Section 8. For those in favor of reducing funding for the program, it's simply a line item to trim. But for those of us in housing finance, it's a structural pillar. Gutting this program would do more than displace tenants — it would destabilize landlords' balance sheets, spike mortgage delinquencies, and inject new risk into an already fragile housing market. Let's connect the dots. The First Domino: DisplacementRoughly 2.3 million households rely on Section 8 vouchers to make rent. Without them, many would immediately be priced out of their homes. Those households wouldn't just double up—they'd fall into homelessness at a time when shelters and support systems are already overwhelmed. Even renters who manage to find new housing would likely face increased cost burdens, redirecting limited income away from essentials like food, transportation, and health care. This isn't theoretical. It's the housing affordability crisis, accelerated. RELATED READING: Judge says HUD can't impose Trump agenda on grants, for nowThe Second Domino: Landlord solvencySection 8 isn't just a lifeline for renters — it's a stabilizer for landlords. For small- and mid-sized property owners, especially those concentrated in low-income markets, voucher payments offer reliable, timely cash flow. The government typically covers 70% of a tenant's rent, with the renter responsible for the balance. When that subsidy disappears, landlords lose the bulk of their income overnight. Evictions rise. Arrears pile up. Units go vacant. And all the while, operating costs — taxes, insurance, maintenance — persist. For many owners, especially those with thin margins, this isn't sustainable. The next stop? Mortgage distress. The Third Domino: Mortgage market falloutThis is where the crisis spreads beyond rental housing and into the mortgage market. Landlords unable to service their debt obligations will default. Those defaults — concentrated in multifamily portfolios with exposure to affordable housing — will push up delinquency rates and lead to a surge in foreclosures. It's not hard to imagine what follows: distressed asset sales, declining neighborhood property values, and increased credit risk for lenders. And for the Federal Housing Administration, which insures many of these loans, the financial pressure could be acute. A flood of claims would strain reserves and reduce the agency's capacity to insure new loans. This isn't just a landlord problem — it's a liquidity and capital adequacy problem for lenders and investors alike. The Final Domino: Market instabilityWe've seen how destabilization at the lower end of the market can ripple upward. If Section 8 funding is gutted, entire housing submarkets could seize up — especially in regions where affordable rental units represent a significant share of the housing stock. Higher vacancies, lower property values, and fewer qualified borrowers would drag on the housing economy. This is not hyperbole. It's a realistic chain reaction. Housing policy is financial policyThose of us in mortgage finance often think in terms of risk modeling, interest rates, and macroeconomic trends. But we can't lose sight of how deeply tied this industry is to housing policy. Programs like Section 8 aren't just safety nets — they are market stabilizers, investor protections, and tools for liquidity preservation.Cutting Section 8 funding is more than a policy shift. It's a trigger point with real risk exposure for servicers, lenders, insurers, and GSEs. We'd be wise to keep that at the forefront of our minds as we shape the future of the housing ecosystem.

Today we’ll take a look at the top mortgage lenders in Texas based on their annual production last year, including both retail and wholesale loan volume.They say everything is bigger in Texas, and that’s true when it comes to their mortgage lending volume relative to 49 other states.Only California is bigger when the subject is doling out home loans. And they even double New York’s output.The Lone Star State accounted for about nine percent of national home loan volume, originating roughly $147 billion in 2024.Let’s find out who the top lenders were in the state in a few different categories.Top Mortgage Lenders in Texas (Overall)RankingCompany Name2024 Loan Volume1.UWM$12.6 billion2.Rocket Mortgage$7.0 billion3.DHI Mortgage$5.7 billion4.Chase$3.9 billion5.Lennar Mortgage$3.7 billion6.CMG Mortgage$3.3 billion7.loanDepot$2.7 billion8.Fairway Independent$2.6 billion9.PrimeLending$2.4 billion10.CrossCountry$2.2 billionYep, United Wholesale Mortgage (UWM) did it again, topping the overall rankings in Texas with $12.6 billion in home loan volume in 2024, per HMDA data from Richey May.They were also number one overall, and in the states of California and Florida, so it’s no surprise they took Texas too.The Pontiac, Michigan-based lender led the way in many states nationwide so this came as no real surprise.Coming in second was former #1 Rocket Mortgage with a much smaller tally, just $7.0 billion funded.In third was DHI Mortgage, which is the in-house lender for D.R. Horton. This is interesting because builders have never been top mortgage lenders until recently.Basically, their ability to offer massive mortgage rate buydowns makes them near-impossible to compete with.JP Morgan Chase was fourth with $3.9 billion, representing the strongest showing for a depository bank.I say that because nonbank mortgage lenders are all the rage these days, with brick-and-mortar banks often taking a back seat.In fifth was another home builder’s mortgage lender, Lennar Mortgage, with $3.7 billion funded. Pretty uncommon to see two builders make the top-10.But it’s a sign of the times, especially in Texas where new construction homes are abundant.Others in the top-10 included CMG Mortgage, loanDepot, Fairway Independent Mortgage, PrimeLending, and CrossCountry Mortgage.Top Mortgage Lenders in Texas (for Home Purchases)RankingCompany Name2024 Loan Volume1.UWM$9.1 billion2.DHI Mortgage$5.7 billion3.Rocket Mortgage$4.1 billion4.Lennar Mortgage$3.7 billion5.Chase$3.2 billion6.CMG Mortgage$3.0 billion7.Fairway Independent$2.4 billion8.loanDepot$2.3 billion9.PrimeLending$2.2 billion10.CrossCountry$1.9 billionNow let’s turn our attention to home purchase lending, which grabbed an 83% market share last year in Texas as refinances dropped off due to higher mortgage rates.Purchase loans quickly became the focus for pretty much all mortgage lenders once rates began to rise from their record lows in 2022.Simply put, 6%+ mortgage rates mean it’s a lot more difficult to drum up refinance business. Thus, lenders are concentrating on home buyers.In 2024, lenders in Texas had about an 83%/17% purchase to refi share, which is quite massive.UWM held the top spot last year with $9.1 billion in home purchase loans in the state, beating out D.R. Horton’s in-house lender.Rocket lost out to one builder, but beat another, Lennar Mortgage, and Chase came in fifth.bank Wells Fargo with $6.6 billion.Not far behind was CMG Mortgage, followed by Fairway Independent Mortgage, loanDepot, PrimeLending, and CrossCountry.The list featured the same exact lenders as the top overall (in slightly different order), which is no surprise given purchase lending dominated last year.Top Mortgage Lenders in Texas (for Mortgage Refinances)RankingCompany Name2024 Loan Volume1.UWM$3.5 billion2.Rocket Mortgage$2.7 billion3.Pennymac$625 million4.Freedom Mortgage$615 million5.Chase$558 million6.Mr. Cooper$470 million7.loanDepot$414 million8.Village Capital$384 million9.Newrez$349 million10.Randolph Brooks$307 millionFinally, we’ve got mortgage refinances, which are reserved for existing homeowners.Borrowers take out these types of loans for either a lower rate (rate and term refinance) or to tap equity (cash out refinance).UWM was again #1, no real surprise, followed by Rocket Mortgage, also not a surprise. Though usually Rocket comes in first here.Nobody else was even close, with third place Pennymac only able to muster $625 million and Freedom Mortgage doing a similar $615 million.It then dropped off even more with Chase, loan servicer Mr. Cooper (soon to be owned by Rocket), loanDepot the next in line.Others in the top-10 included Village Capital (a government streamline refi specialist), Newrez, and credit union Randolph Brooks.Top Mortgage Lenders in AustinRankingCompany Name2024 Loan Volume1.UWM$1.4 billion2.CMG Mortgage$769 million3.Rocket Mortgage$601 million4.DHI Mortgage$588 million5.Lennar Mortgage$545 million6.Chase$523 million7.ClosingMark$467 million8.First United Bank$415 million9.loanDepot$412 million10.Fairway Independent$393 millionTop Mortgage Lenders in DallasRankingCompany Name2024 Loan Volume1.UWM$3.5 billion2.Rocket Mortgage$1.8 billion3.DHI Mortgage$1.6 billion4.Chase$1.1 billion5.Lennar Mortgage$954 million6.PrimeLending$792 million7.CrossCountry$734 million8.loanDepot$721 million9.Supreme Lending$675 million10.Provident Funding$633 millionTop Mortgage Lenders in Fort WorthRankingCompany Name2024 Loan Volume1.UWM$1.2 billion2.Rocket Mortgage$749 million3.DHI Mortgage$663 million4.Service First$330 million5.Chase$326 million6.Guild Mortgage$292 million7.Fairway Independent$275 million8.CrossCountry$273 million9.loanDepot$248 million10.Supreme Lending$233 millionTop Mortgage Lenders in HoustonRankingCompany Name2024 Loan Volume1.UWM$3.5 billion2.Rocket Mortgage$1.8 billion3.DHI Mortgage$1.1 billion4.Chase$1.1 billion5.Lennar Mortgage$916 million6.loanDepot$799 million7.CMG Mortgage$774 million8.Cadence Bank$632 million9.Benchmark$469 million10.Fairway Independent$448 millionTop Mortgage Lenders in San AntonioRankingCompany Name2024 Loan Volume1.Lennar Mortgage$971 million2.UWM$904 million3.DHI Mortgage$816 million4.Rocket Mortgage$561 million5.KBHS Home Loans$340 million6.loanDepot$323 million7.Randolph Brooks$314 million8.Pulte Mortgage$296 million9.Veterans United$294 million10.Chase$256 millionGo Big or Go Home in Texas?Every time I write about the largest mortgage lenders in a certain state, I do my best to separate size from quality.Or at least point out that they are two unique things, despite “top” and “biggest” being used interchangeably.For some, top means best quality, while biggest means, well, biggest.Of course, these two things can go hand in hand, so it’s not always easy to differentiate.If you look at the lists above, only a handful of the mortgage companies mentioned are headquartered in Texas.I believe only Nationstar (Mr. Cooper), D.R. Horton’s DHI Mortgage, Benchmark, Randolph Brooks, Service First, Supreme Lending and PrimeLending are Texas-based companies.The rest are national mortgage lenders that simply do a lot of business in the state of Texas.So if you prefer a homegrown lender, you may want to look elsewhere, such as a local bank, credit union, or mortgage broker.But you might have a wonderful mortgage experience working with one of the biggest mortgage lenders in Texas too.Regardless, the important thing is to gather multiple quotes to ensure you don’t miss out on a better deal elsewhere.This is especially true in today’s mortgage market, where rates can vary widely from one lender to the next.(photo: Marcin Wichary) Before creating this site, I worked as an account executive for a wholesale mortgage lender in Los Angeles. My hands-on experience in the early 2000s inspired me to begin writing about mortgages 19 years ago to help prospective (and existing) home buyers better navigate the home loan process. 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Federal Reserve Board Communication practices have taken center stage in the Federal Reserve's ongoing review of its monetary policy framework. In a Thursday morning speech, Fed Chair Jerome Powell said communication practices — particularly during times of heightened uncertainty — have been focal points during both internal and external discussions in recent months related to the five-year policy review.Powell, speaking at a Federal Reserve Board research conference in Washington, said both financial market participants and academics generally approve of how the Fed conveys policy decisions and explains forecasts, but "there is always room for improvement." "A critical question is how to foster a broader understanding of the uncertainty that the economy generally faces," he said. "In periods with larger, more frequent, or more disparate shocks, effective communication requires that we convey the uncertainty that surrounds our understanding of the economy and the outlook."Powell said the Federal Open Market Committee would consider ways to improve on this front before finalizing its new policy framework this summer.Along with communications, Powell said the review has also focused on the two most controversial elements of the Fed's last framework review: its interpretation of labor market dynamics and its focus on average inflation over an extended period.Launched in 2019 and completed in 2020, the prior review largely focused on how monetary policy should adapt to a sustained zero-interest rate environment. The Fed's benchmark interest rate, the federal funds rate, had been at or near its lower bound for a decade and, Powell said, the belief was that it would remain in the range for the foreseeable future. With rates so low, Powell said the committee was concerned that the Fed would have little ability to help boost the economy during a future downturn and that any moves to raise rates in response to inflation would crush already tepid job growth. In response to this, the Fed adjusted its focus on the labor market away from "deviations" from maximum employment and toward "shortfalls." Some have interpreted this change as the Fed prioritizing employment — or even certain job categories — over price stability, but Powell said the true purpose was to ensure that "apparent labor market tightness would not, in isolation, be enough to trigger a policy response."The last review also yielded the flexible average inflation target, or FAIT, approach, which would have enabled the Fed to allow inflation to run above its 2% target after a period of sub-2% growth, so long as the average remained 2%. Some academics and observers say this shift led the Fed to delay responding to pandemic-induced inflation in 2021, but Powell pushed back against that notion."The idea of an intentional, moderate overshoot proved irrelevant to our policy discussions and has remained so through today. There was nothing intentional or moderate about the inflation that arrived a few months after we announced our changes to the consensus statement," Powell said. "I acknowledged as much publicly in 2021.  We fell back on the rest of the framework, which called for traditional inflation targeting."In recent months, Powell and other Fed officials have acknowledged that the last review was too backward-looking and too focused on responding to the specific conditions of its day. Some have called for a simpler, more timeless approach this time around.Still, Powell said much of the framework, including the Fed's commitment to keep inflation at or below 2%, will remain unchanged. But, he added, recent developments could call for modifications to ensure the framework is resilient to a potentially more unpredictable economic landscape."Higher real rates may also reflect the possibility that inflation could be more volatile going forward than in the inter-crisis period of the 2010s," he said. "We may be entering a period of more frequent, and potentially more persistent, supply shocks—a difficult challenge for the economy and for central banks."