Kansala, Guinea-Bissau — For centuries, the history of the West African kingdom of Kaabu has been told mainly by word of mouth. Kaabu existed from the mid-1500s to the 1800s. At its peak, it encompassed Guinea-Bissau and reached into what are now Senegal and Gambia. Sometimes Kaabu’s story passed from father to son. Often it was […]
Despite a drop in overall profitability in the fourth quarter of 2024, FOA, one of the nation’s leading reverse mortgage lenders, remains optimistic about the total addressable market for home equity-based retirement products and will continue to develop its offerings in 2025. This was some of the perspective shared this week by Kristen Sieffert, president […]
Following a series of moves by key White House leaders at the Office of Management and Budget (OMB) and the U.S. DOGE Service that are ostensibly designed to limit or dismantle the Consumer Financial Protection Bureau (CFPB), its former director appeared Friday morning on CNBC to discuss the upheaval while warning consumers about the risks […]
Toronto-based TD Bank and Hicksville, New York-based Flagstar Bank have announced plans to shutter numerous branches across several states. TD Bank confirmed to American Banker that it intends to close 38 branches in 10 states and Washington, D.C. And a recent bulletin from the Office of the Comptroller of the Currency (OCC) show that Flagstar […]
Bill Pulte, the newly confirmed director of the Federal Housing Finance Agency (FHFA), is wasting no time in making a splash with Fannie Mae and Freddie Mac, suggesting they too might receive the DOGE treatment that other government entities have already experienced. In a series of messages posted to his X account on Friday morning, […]
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $40 on each loan they originated in Q4 2024, a decrease from the reported net profit of $701 per loan in Q3 2024. That’s according to the Mortgage Bankers Association’s (MBA) Quarterly Mortgage Bankers Performance Report, released today. Of […]
In what seems to have become an ongoing tradition, lawmakers in Congress are bringing the federal government ever closer to a partial shutdown due to an impending lapse in appropriations scheduled for Friday, March 14 if they can’t agree on a funding plan. The impacts are likely to be felt across a wide swath of […]
Mortgage industry veterans Eli Fairfield and Brian Keranen have joined Everett Financial (dba Supreme Lending) as regional directors for the Pacific Southwest, the company announced. Fairfield and Keranen bring decades of experience in mortgage lending, as loan originators and managers in California. In recent years, they have focused on mentoring loan officers and tailoring their […]
Nationwide mortgage loan servicer Cenlar FSB announced today that Andrew Pohlmann has joined the organization as senior vice president of business development. Pohlmann, who brings 30 years of experience to Cenlar, formerly served as Rate’s CMO. He confirmed the new role in a post on LinkedIn. “We are thrilled to welcome Andrew to the team. […]
The U.S. Senate on Thursday confirmed Bill Pulte to serve as the new director of the Federal Housing Finance Agency (FHFA). Pulte succeeds Sandra Thompson, who led the agency under the Biden administration but left before the inauguration of Donald Trump. Pulte was confirmed in a vote of 56-43, with one senator not voting, an […]
Home equity increased nationally by $281.9 billion in the fourth quarter of 2024, an increase of 1.7% year over year, according to the latest CoreLogic Homeowner Equity Report (HER), released Thursday. But the report also noted rising negative equity in some sunbelt states, along with Oregon and Washington, D.C. The report shows that U.S. homeowners […]
The state of Texas has the third-largest Asian American population in the U.S. Chinese Americans in the Lone Star State have roots that trace back for generations, just like those of their counterparts on the nation’s East and West coasts. While the history of these Texans might not be as well known, their stories are […]
Vice Capital Markets, a mortgage hedge advisory firm for independent lenders, banks and credit unions, announced Thursday that it is the first to integrate Fannie Mae’s new loan pricing application programming interface (API) into its trading portal. The API simplifies the loan pricing and commitment process by consolidating multiple pricing APIs into one. This gives […]
VATICAN CITY — Pope Francis marks 12 years as head of the Catholic Church on Thursday, seemingly out of danger after a month in hospital but with his health casting a shadow over his future. The 88-year-old was, for a time, critically ill as he battled pneumonia in both lungs at Rome’s Gemelli hospital, where he […]
Reverse mortgage leader Finance of America (FOA) recorded a quarter-over-quarter loss in the fourth quarter of 2024, but still notched a full-year profit. In a Wednesday earnings call, company leaders outlined their assessment of the reverse mortgage market moving forward, describing 2024 as a year of “momentum” for the company owing to the achievement of […]
ICE Mortgage Technology has added new analysis tools, expanding its technology portfolio that’s designed to simplify underwriting and post-closing review processes. The company this week announced the debut of ICE Asset Analyzer and ICE Audit Analyzer, adding to the existing ICE Income and ICE Credit analyzers. The products, which are fully integrated into the Encompass […]
ROME — Pope Francis’ recovery from double pneumonia continued Wednesday as a chest X-ray confirmed improvement, two days after doctors declared he is no longer in imminent danger of death. The latest medical bulletin said the pope’s condition remained stable but indicated a complex picture considering his overall fragility. The Vatican said Francis, 88, again followed […]
Evergreen Home Loans has expanded into New Mexico, opening branches in Albuquerque and Carlsbad. The locations will be led by area manager Barry Abt, the company announced Wednesday. Evergreen, a direct mortgage lender serving the western U.S., provides origination, funding and servicing for home loans. “We are excited to bring the Evergreen Home Loans experience […]
zavvie, a Colorado-based iBuyer and fintech company, has launched an AI-powered platform, HomeFAI, that is designed to accelerate the speed of cash offers and funding for homebuyers. The new system is described as an upgrade to zavvie’s portal for cash buyers and boosts its Cash Buy Before Sell program, giving homeowners added financial flexibility to […]
loanDepot on Wednesday released its financial results for the fourth quarter and full year of 2024. The earnings report showcased a mixed picture for the Irvine, California-based mortgage lender. While the earnings report showed that loanDepot is making progress in revenue growth and operational efficiency, achieving sustained profitability is proving to be more difficult. In […]
Mortgage applications increased 11.2% on a seasonally adjusted basis from last week, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending March 7, 2025. On an unadjusted basis, the index increased 12% compared to last week. The refinance index saw a 16% uptick from the previous week […]
Since it was originally founded in the wake of the 2008 financial crisis, the Consumer Financial Protection Bureau (CFPB) has been a chief figure in the regulatory enforcement of the mortgage industry, including the reverse mortgage business. But recent reports suggest that the Trump administration will aggressively scale back the bureau’s headcount and seek to […]
The Trump administration has cut millions of dollars in federal funding from two cybersecurity initiatives, including one dedicated to helping state and local election officials. The U.S. Cybersecurity and Infrastructure Security Agency (CISA) has ended about $10 million in annual funding to the nonprofit Center for Internet Security, a CISA spokesperson told The Association Press […]
Spring officially arrives next week and the 2025 housing market could heat up too, if the recent declines in mortgage rates are any indication. Data at HousingWire’s Mortgage Rates Center on Tuesday shows that 30-year conforming rates are averaging 6.79%, down 10 basis points (bps) from a week ago. And the 15-year conforming rate has […]
The American South has long been associated with white-columned mansions, rustic farmhouses, and aging structures steeped in history. But an exhibition at the National Building Museum in Washington is showcasing the vibrant, modern and forward-thinking architecture emerging from the region today. Maxim Adams has the story. Video editor: Sergii Dogotar, Anna Rice details ⇒ BusinessMediaguide.Com […]
Global consulting and actuarial firm Milliman Inc. is expanding into the residential mortgage business, and it’s picked up Sterling Point Advisors‘ Jeff Juliane and Brett Ludden to lead the effort. Ludden and Juliane will focus on providing comprehensive advisory services to mortgage lenders, servicers and investors. “We are thrilled to welcome Jeff and Brett to […]
The Roosevelt Hotel, a New York City landmark for over a century, once again faces an uncertain future. Last month, city officials announced plans to stop using it as a migrant shelter and processing center beginning this summer. Opened in 1924 to cater to passengers using the nearby Grand Central Terminal, the iconic hotel has […]
Following the controversial actions of the U.S. DOGE Service’s attempts to severely reduce the headcount and enforcement capacity of the Consumer Financial Protection Bureau (CFPB), the agency’s chief operating officer has offered more details about efforts to scale back the agency. In an evidentiary hearing stemming from a lawsuit brought by the National Treasury Employees […]
PennyMac Financial Services Inc. on Tuesday announced the appointment of Isaac Boltansky as managing director and head of public policy. “Pennymac is pleased to welcome Isaac to our strong team of industry professionals. In moments of industry transformation, it is critical to have leaders who understand the ecosystem with the expertise to shape the future […]
Tomo Mortgage on Tuesday announced the closure of $20 million in Series B funding that was led by three existing investors and a new participant. The funding round was led by prior investors Ribbit Capital, DST Global and NFX along with new investor Progressive Insurance. Tomo, which was founded in 2020 by former Zillow executives […]
Federally registered broker and correspondent lender Milestone Mortgage Solutions has acquired Willow Home Loans and is looking to join the $1 billion origination club this year. Milestone, the largest brokerage in Massachusetts over the past three years, said the companies will be able to combine Willow’s top-drawer proprietary technology platform with Milestone’s federal registration and […]
NEW YORK — A public memorial service bursting with choral music and the Berklee College of Music’s Nebulous String Quartet, with Stevie Wonder and the Rev. Al Sharpton also on the bill, celebrated the life and legacy of Grammy-winning singer and pianist Roberta Flack. Flack’s songs “The First Time Ever I Saw Your Face” and “Killing […]
NEW YORK — Michelle Obama and her brother, Craig Robinson, will host a new weekly podcast series starting this month featuring a special guest pulled from the world of entertainment, sports, health or business. “IMO with Michelle Obama & Craig Robinson” will address “everyday questions shaping our lives, relationships and the world around us,” according to […]
A reverse mortgage-related bill that was introduced in the Maryland state Senate that would have put the onus on lenders to cover some extra expenses tied to the Home Equity Conversion Mortgage (HECM) origination process has been withdrawn by the sponsoring senator after conversations with reverse mortgage industry representatives. Senate Bill 831 would have required […]
ATHENS — A far-right Greek lawmaker attacked four paintings in an exhibition at the country’s National Gallery on Monday, the gallery said, after he had described one as offensive because of its distorted depictions of Christ and the Virgin Mary. The lawmaker, named by the gallery as Nikolaos Papadopoulos, from the ultra-religious Niki party, was temporarily […]
HomeVision, a collateral underwriting and appraisal review platform, has partnered with artificial intelligence (AI) firm Restb.ai to integrate computer vision technology into real estate valuation processes. The collaboration will incorporate Restb.ai’s AI-powered image recognition into HomeVision’s Machine Intelligence Review Assistant (MIRA) platform. The companies say the technology will improve appraisal accuracy, automate parts of the […]
Rate, formerly known as Guaranteed Rate, has hired Drew Church to its team as a senior vice president and regional sales manager. Church confirmed the news in a LinkedIn post on Sunday evening. Church, who is based in Charlotte, joins Chicago-headquartered Rate from Integrity Home Mortgage Corp., where he served as regional sales manager from […]
Monday’s breaking news that Rocket Companies is set to acquire online real estate brokerage Redfin shed light on the changing landscape of the homebuying marketplace. In an exclusive interview with HousingWire, Rocket CEO Varun Krishna said that having a hand in the entire real estate funnel gives Rocket’s broker network “a bigger piece of the […]
Artificial intelligence companies train their AI models using the works of writers, artists and creatives who typically aren’t credited or compensated. Instead of fighting AI, some tech companies are encouraging creators to take advantage of it. Tina Trinh reports. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Artificial intelligence (AI), predictive underwriting, and blockchain technology are becoming more common in today’s real estate industry. As a result, professionals in the title and foreclosure industries must evolve to keep up with upcoming trends. However, long-standing challenges still persist within foreclosure firms, title and escrow companies, and title insurance underwriters. Some examples may include […]
The documentary film Porcelain War highlights the struggle of Ukrainian artists and ordinary citizens fighting to save their country and culture in the face of Russian aggression. The movie won the 2024 Sundance Festival Grand Jury Prize for documentaries and was nominated for an Oscar this year. Elena Wolf has the story, narrated by Anna Rice. […]
Traditional Korean moon jars and modern takes on the elegant white vases are the focus of a new art exhibit in the Rocky Mountain state of Colorado. VOA Correspondent Scott Stearns has the story from Denver. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
KARACHI, PAKISTAN — Two Pakistani women sit together on a couch, rehearsing their lines while a director scrutinizes them. Waiting off camera for his scene is the male lead, an actor blessed with Bachelor hair and fine bone structure. Also out of sight: the Islamabad homeowners, who are holed up in a separate room and whose […]
ROME — Pope Francis continued his recovery from double pneumonia Sunday after doctors reported some positive news: After more than three weeks in the hospital, the 88-year-old pope is responding well to treatment and has shown a “gradual, slight improvement” in recent days. In the early Sunday update, the Vatican said Francis was resting after a […]
ASHBOURNE, ENGLAND — This ancient form of football has a rule forbidding players from murdering each other. Every year, thousands of people descend on a small town in the English countryside to watch a two-day game of mass street football that, to the casual observer, could easily be mistaken for a riot. This is Royal Shrovetide […]