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As mortgage biz suffers, Blend sees unified banking platform as the key to growth

Housing Wire

To reach a key financial goal in 2026, Blend Labs plans to diversify far beyond mortgage. Achieving positive free cash flow by 2026 would represent a financial landmark for Blend. ​​”We are guiding to a free cash flow margin of 8% for our conservative case, 18% for the market norm, with our base case at 12%.

Mortgage 409
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Rocket’s Varun Krishna appointed to newly created board position

Housing Wire

Krishna will serve “for a term expiring at the company’s 2026 annual meeting of stockholders and until his successor is elected and qualified, subject to his earlier death, resignation, retirement, disqualification or removal.”

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Blend narrows loss to $21M in Q3, reaffirms path to profitability in 2024

Housing Wire

Its mortgage business outperformed the broader origination market and the company reduced cash burn, putting the firm on track to its goal of reaching non-GAAP profitability by next year. Executives had set a goal of achieving positive cash flow by 2026 in its investor day in September. ​​As million year over year. As of Sept.

Investors 367
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The Fed pauses its rate hikes for now, will it last?

Housing Wire

The Federal Open Markets Committee paused its interest-rate hikes on Wednesday for the second time this year. Other labor market indicators, such as job openings and the unemployment rate , also point to a cooling economy, Danielle Hale, chief economist at Realtor.com noted. next year and to reach 2% in 2026, he added.

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What lies ahead

Housing Wire

This market has transformed in recent years, offering travelers a range of unique experiences while providing property owners with an appealing stream of income. By 2015, the market had burgeoned to a staggering $85 billion, surpassing the combined room count of the four largest hotel chains globally. million by 2026.

Investors 340
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DataDigest: Goldilocks and the big IMBs

Housing Wire

That alone suggests better days ahead for IMBs, even if rates don’t fall into the 6s for a few more months, the secondary market remains a mess, and seasonality results in low volume in the first quarter of 2024. This should contribute to the biggest IMB lenders gobbling up additional market share, even if no single lender is at 10%.

Retail 352
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With strategic plan, FHFA charts new course

Housing Wire

The conservator of Fannie Mae and Freddie Mac on Wednesday laid out three broad strategic goals for 2022 to 2026: safety and soundness, equitable access to affordable and sustainable housing, and responsibly managing FHFA’s infrastructure. Not taking any risk has its own set of consequences, which we are seeing now,” Dworkin said.