Jacob Passy is a reporter with National Mortgage News, covering breaking news in the residential mortgage industry. Passy has been with SourceMedia since 2015 and previously served as a breaking news reporter for American Banker. His work has appeared in numerous publications including CNBC, NBC News and the Wall Street Journal's Speakeasy blog. He is a graduate of the CUNY Graduate School of Journalism and Tufts University.
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JPMorgan Chase has partnered with the fintech firm Roostify to build a digital self-service mortgage platform.
By Jacob PassyFebruary 16 -
Zeus Mortgage in Houston is positioning its new online crowdfunding platform as an alternative to traditional mortgages for property buyers and others having trouble borrowing to remodel homes or fund construction projects.
By Jacob PassyFebruary 15 -
In a candid, in-depth exit interview, Ted Tozer discusses Ginnie Mae's growth during his seven years at the agency's helm, the need for comprehensive housing finance reform, big banks' retreat from mortgages, counterparty risk management and more.
By Jacob PassyJanuary 18 -
The startup, known for refinancing millennials' student loans, is now writing more than $100 million of home mortgages a month, and expects this to be its fastest-growing product. Here's why.
By Jacob PassyJanuary 17 -
The startup, known for refinancing millennials' student loans, is now writing more than $100 million of home mortgages a month, and expects this to be its fastest-growing product. Here's why.
By Jacob PassyJanuary 17 -
As president of the secondary marketing agency, Tozer has helped the mortgage market to continue functioning and keep up with changes following the financial crisis.
By Jacob PassyJanuary 13 - Embrace the Digital Mortgage as a Competitive Advantage
Nondepository lenders are beating their bank competitors when it comes to both digital innovation and market share in the mortgage industry. As interest rates rise, banks will need to move toward electronic closings and adopt other innovations if they want to stay competitive.
By Jacob PassyJanuary 10 -
The Department of Housing and Urban Development has charged Bank of America with discriminating against prospective Hispanic mortgage borrowers at a branch in Charleston, S.C.
By Jacob PassyJanuary 6 -
It's unclear how the new political environment will affect the platform's viability or how investors will view the securities issued on it. The next year could determine the project's success and role reshaping the secondary mortgage market.
By Jacob PassyDecember 27 -
A key quarterly real estate report finds confidence around mortgage lending on the decline, but credit unions' mortgage business continues to surge, with originations up by 22% year-over-year during Q3.
By Jacob PassyDecember 22