Olympic gymnast McKayla Maroney on Wednesday told U.S. lawmakers she feels betrayed by FBI agents, after they failed to seriously investigate former USA Gymnastics doctor Larry Nassar, despite her telling them he had sexually abused her. Maroney is one of four athletes, along with Simone Biles, Aly Raisman and Maggie Nichols, who testified to the […]
Olympic gymnast McKayla Maroney on Wednesday told U.S. lawmakers she feels betrayed by FBI agents, after they failed to seriously investigate former USA Gymnastics doctor Larry Nassar, despite her telling them he had sexually abused her. Maroney is one of four athletes, along with Simone Biles, Aly Raisman and Maggie Nichols, who testified to the […]
The reverse mortgage volume boom appears to have diminished for now, at least if new data is any indication. Home Equity Conversion Mortgage (HECM) endorsements fell in August, 2021 by 14.3% to 3,679 loans, with July now having marked the end of a streak of monthly volume above a threshold of at least 4,000 units […]
Mortgage loan application volume rebounded from the week prior, increasing by 0.3% for the week ending Sept. 10, according to the Mortgage Bankers Association’s weekly report. The increase in application volume was predominantly driven by purchase mortgage activity, which grew by 8% from the week prior, the trade group said. Not surprisingly, the refi […]
Black Knight is looking to hook mortgage brokers with a new loan origination system designed specifically for them. The Florida-based mortgage tech and analytics behemoth on Wednesday unveiled “LoanCatcher” to mortgage brokers, which it described as an “end-to-end” solution that is integrated into its Surefire CRM and mortgage marketing engine. The direct integration will allow […]
Comedian Norm Macdonald, a former “Saturday Night Live” writer and performer who was “Weekend Update” host when former U.S. President Bill Clinton and O.J. Simpson provided comic fodder during the 1990s, has died. Macdonald, who was 61, died Tuesday after having cancer for nine years but kept it private, according to Brillstein Entertainment Partners, his […]
The Treasury Department and FHFA announced Tuesday that they are suspending certain requirements that were added in January to the Preferred Stock Purchase Agreements (PSPAs) between Treasury and Fannie Mae and Freddie Mac. Under those requirements, Fannie Mae had restricted its acquisition of loans secured by second homes and investment properties to 7% of its […]
Mike Calhoun is president of the Center for Responsible Lending This week the Biden administration announced several high-level nominations, including Alanna McCargo to lead Ginnie Mae. But missing from those announcements was the White House’s widely expected pick for the next permanent director of the Federal Housing Finance Agency(FHFA), Mike Calhoun. Sources told HousingWire at […]
On Monday, Sept. 20, U.S. Secretary of Education Miguel Cardona will launch the “Return to School Road Trip,” a bus tour to showcase students and communities safely returning to in-person learning. Throughout the tour, Secretary Cardona, Deputy Secretary Cindy Marten, and local school leaders will join students, parents, educators, and school communities for events that […]
Today, U.S. Secretary of Education Miguel Cardona issued the following statement on the confirmation of James Kvaal as Under Secretary of Education: details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Point, a shared equity reverse mortgage firm that gives homeowners the ability to sell a small fraction of their equity, recently announced that it has raised over $1 billion in new capital commitments from real estate and mortgage-backed securities (MBS) investors. These companies include Atalaya Capital Management (which made a prior investment in 2018), Kingsbridge Wealth Management, […]
Billie Eilish went full glam in a huge peach ball gown at the pandemic-delayed Met Gala on Monday night, while fellow host of the evening Amanda Gorman was breathtaking in blue custom Vera Wang with a diamond laurel wreath in her hair. Co-host Timothée Chalamet raced onto Fifth Avenue to take selfies with fans before […]
The regulatory environment for the mortgage industry is experiencing a period of turbulence as President Biden has ushered in a new era of regulation under his administration. That’s why HousingWire invited attorney Daniella Casseres to HW Annual to discuss just what these new regulations mean for those in the housing economy. Casseres is a partner […]
After a slight lull, forbearance numbers across the board have started to lurch downwards, with the total number of loans dropping by 15 basis points to 3.08% as of Sept. 5, according to the Mortgage Bankers Association‘s latest survey. The portfolio loans and private-label securities (PLS) category, which has remained stubbornly high, saw the most […]
Today, the U.S. Department of Education (Department) announced the approval of Maine’s American Rescue Plan Elementary and Secondary School Emergency Relief (ARP ESSER) plan and distributed remaining ARP ESSER funds to them. Maine’s plan details how the state is using and plans to use ARP ESSER funds to safely reopen and sustain the safe operation […]
Broadway will welcome back musical lovers and playgoers this fall as theaters in New York City reopen at 100% capacity despite an ongoing threat of the spread of COVID-19. Tina Trinh reports. Camera: Tina Trinh, Janine Phakdeetham Produced by: Tina Trinh details ⇒ BusinessMediaguide.Com portal received this content from this noted […]
Novak Djokovic’s bid for the first calendar-year Grand Slam in men’s tennis since 1969 ended one victory short with a 6-4, 6-4, 6-4 loss to Daniil Medvedev in the U.S. Open final on Sunday. Medvedev’s surprisingly lopsided triumph gave him his first major championship and prevented Djokovic from winning what would have been the […]
Disney announced Friday that all of its films slated for release by the end of the year will be exclusively screened in cinemas first, bringing relief to theaters anxious to reconnect with audiences after the coronavirus pandemic devastated their industry. The animated film Encanto will be released on the big screen Nov. 24 and will […]
United States Soccer Federation President Cindy Parlow Cone said Friday the body hopes to “equalize” World Cup prize money for its men’s and women’s national teams as part of efforts to settle ongoing litigation with its women footballers. In an open letter addressed to U.S. fans, Parlow Cone said the gulf in prize money paid […]
Wells Fargo has been slapped with a $250 million civil money penalty by the Office of the Comptroller of the Currency for “unsafe or unsound practices” pertaining to their home lending loss mitigation program this week. According to the OCC, the fine is also a result of the bank violating the terms of a 2018 […]
Currently, one in five, or roughly 20%, of consumers work with an independent mortgage broker. With their strong, personal relationships, endless loan options and access to technology, we expect that number to continue to grow as more and more consumers become educated on the value brokers add to the home-buying experience. This past year and […]
It will be the Big Apple battle of teenagers in Saturday’s U.S. Open final after Britain’s Emma Raducanu became the first qualifier to reach the title clash at a major, joining Canadian Leylah Fernandez as the duo continued their giant-killing spree. The final under the lights at the colossal Arthur Ashe Stadium between Fernandez and […]
United Wholesale Mortgage (UWM) announced today that it will no longer require its brokers to use appraisal management companies to complete appraisals. The Pontiac, Michigan-based wholesale lender will instead coordinate appraisals in-house, contracting with appraisers directly, offering appraisers and brokers a way to bypass AMCs altogether, which UWM CEO Mat Ishbia characterizes as “middlemen.” During […]
Today, the U.S. Department of Education announced that it will launch a new grant program to provide additional funding to school districts that have funds withheld by their state or are otherwise financially penalized for implementing strategies to prevent the spread of COVID-19 consistent with the Centers for Disease Control and Prevention (CDC) guidance, such […]
Dave Sheeler, president of residential servicing and correspondent lending at Freedom Mortgage This year’s list of HousingWire Insiders radiate influence well beyond the walls of their individual companies, providing the infrastructure that upholds the whole industry. HousingWire decided to dive deeper into a few of our award winners to get a peek behind the curtain […]
The average 30-year fixed-rate mortgage was stagnant at 2.88% for the week ending Sept. 9, according to mortgage rates data released Thursday by Freddie Mac‘s PMMS. The week prior, mortgage rates also held steady at 2.87%. This week’s near constant mortgage rates tracked with the 10-year Treasury yield, which rose slightly and then tapered off […]
Derek Jeter was simply Derek Jeter on his special day — smooth as silk. On a cloudy Wednesday afternoon, with fans chanting his name, the former New York Yankees star shortstop and captain was inducted into the Baseball Hall of Fame after a long wait necessitated by the pandemic. Greeted by raucous cheers in a […]
The Office of the Comptroller of Currency announced today that it is moving to gut the controversial Community Reinvestment Act (CRA) rule issued in 2020. Instead, the agency is proposing to replace the federal anti-redlining rule with rules adopted jointly by the OCC, Federal Deposit Insurance Corporation, and the Board of Governors of the Federal […]
Maryland’s state legislature has pushed through a rule that could widen the pool of eligible applicants vying to become homeowners by requiring lenders to use alternative methods of evaluating a borrower’s creditworthiness. HB 1213, which will go into effect on Oct.1, will obligate lenders to consider an applicant’s history of rent, utility payments, school attendance […]
The first trial in the “Operation Varsity Blues” college admissions bribery scandal will begin this week, with the potential to shed light on investigators’ tactics and brighten the spotlight on a secretive school selection process many have long complained is rigged to favor the rich. Jury selection is beginning Wednesday in federal court in Boston […]
Mortgage application volume declined by 1.9% as of Sept. 3, falling to its lowest level since mid-July, according to the Mortgage Bankers Association’s weekly survey published on Wednesday. On an unadjusted basis, MBA’s index decreased by 3% compared to the previous week. Pushing the decline was the refinance index, which dipped by 3% from the […]
Four months into the new year and conversations among mortgage executives were focused right back on the same issue that always happens after a mortgage boom — LO comp. Three mortgage executives were virtually gathered to talk about the routine topic at the Mortgage Bankers Association’s Spring conference in April. The session was a part […]
U.S. (gridiron) football great Sam “Bam” Cunningham, whose performance against Alabama in a 1970 game is credited for prompting major college football programs in the southern United States to integrate their teams with Black players, has died at the age of 71. The University of Southern California, where Cunningham played his collegiate years, said he died Tuesday […]
Britney Spears’ father filed Tuesday to end the court conservatorship that has controlled the singer’s life and money for 13 years. James Spears filed his petition to terminate the conservatorship in Los Angeles Superior Court. “As Mr. Spears has said again and again, all he wants is what is best for his daughter,” the document […]
Homeowners withdrew $63 billion in equity in the second quarter of 2021, according to the latest numbers from Black Knight, the most in a single quarter in nearly 15 years. There is still $9 trillion in tappable equity, a 37% increase year-over-year. The driver is, of course, spiking home prices in most places. Home values […]
“We knew deep down it was simply the right thing to do,” said Austin Niemiec, Executive Vice President of Rocket Pro TPO. “Baking a 50-basis point credit into our pricing isn’t something to scoff at given the amount of volume our partners bring in on a weekly and monthly basis, but we wanted to do […]
One of the biggest challenges facing the mortgage industry is increasing homeownership in underserved communities. To discuss some of these challenges and potential solutions, HousingWire invited Laura Brandao, president and partner of American Financial Resources, to participate in the Expanding Homeownership panel at HW Annual on Sept. 27-28. The panel will explore how the mortgage […]
Disabled fashion designers have long struggled against discrimination, especially in developing countries such as Malawi. To combat the problem, Malawian fashion brand House of Xandria on Saturday organized the country’s first fashion show featuring creations by designers with disabilities. Lameck Masina reports from Blantyre. Camera: Dan Kumwenda details ⇒ BusinessMediaguide.Com portal received this content from […]
Brazil soccer great Pele said on Monday that he was recovering in a hospital from surgery to remove a tumor from his colon. Pele, the only player to win three World Cups, did not say whether the tumor was malignant, but the 80-year-old former Santos and New York Cosmos player said he was feeling good. […]
Jean-Paul Belmondo, star of the iconic French New Wave film “Breathless,” whose crooked boxer’s nose and rakish grin went on to make him one of the country’s most recognizable leading men, has died at 88. His death was confirmed Monday by the office of his lawyer, Michel Godest. No cause of death was given. […]
Brazil’s World Cup qualifying match against Argentina was dramatically suspended shortly after it began Sunday as controversy over COVID-19 protocols erupted. The match at Sao Paulo’s Neo Quimica Arena between the two giants of South American football came to a halt when a group of Brazilian public health officials came onto the pitch, triggering a […]
Willard Scott, the beloved weatherman who charmed viewers of NBC’s Today show with his self-deprecating humor and cheerful personality, has died. He was 87. His successor on the morning news show, Al Roker, announced that Scott died peacefully Saturday morning surrounded by family. An NBC Universal spokeswoman confirmed the news. No further details were released. “He […]
The past 18 months have been full of twists and turns for the housing economy. From record low interest rates to inventory shortages and soaring home prices, the pandemic has been keeping the industry on its toes. That’s why HousingWire asked Lead Analyst Logan Mohtashami to speak on the economics of housing at HW Annual, […]
One of the most important tasks Alice Greenwald has as president and CEO of the 9/11 Memorial and Museum is to educate and inspire a younger generation and make sure the heroism and sacrifices made that day in 2001 are never forgotten. “If you think about 20 years, it is the span of a […]
Before Hurricane Ida made landfall in New Orleans, many of the city’s lower-income homeowners were already struggling. Of the 35,380 Federal Housing Administration-insured loans in New Orleans, 17.9%, or 6,600, were delinquent as of August, per an analysis of Department of Housing and Urban Development data from the American Enterprise Institute. That puts it behind […]