Sheetal Deo was shocked when she got a letter from her Queens apartment building’s co-op board calling her Diwali decoration “offensive” and demanding she take it down. “My decoration said ‘Happy Diwali’ and had a swastika on it,” said Deo, a physician, who was celebrating the Hindu festival of lights. The equilateral cross with its […]
The causes are worthy, the course is daunting – almost 500 kilometers across a stretch of the Pacific Ocean in a large canoe. It’s the Hoki Mai Challenge, which started Saturday in Rapa Nui, a territory in the Pacific that is part of Chile and is better known as Easter Island. The event consists of […]
When Willette Kalaokahaku Akima-Akau looks out at the the lava flowing from Mauna Loa volcano and makes an offering of gin, tobacco and coins, she will be taking part in a tradition passed down from her grandfather and other Native Hawaiians as a way to honor both the natural and spiritual worlds. Akima-Akau said she […]
The entire economic landscape, including mortgage rates, has changed this week, starting with the Fed’s talking points on Wednesday. The honey badger labor market is still going strong as we got another solid jobs report Friday, which pushed bond yields higher at first. However, the way the day ended showed that change is coming. We […]
Generation Z is the name given to people born between 1997 and 2012, and the oldest of them are well into adulthood. But for many, the traditional signs of adulthood — a steady job and home ownership — aren’t yet part of the plan. Karina Bafradzhian has the story. details ⇒ BusinessMediaguide.Com portal received this […]
The “Agony of Doha” came 29 years ago, and Hajime Moriyasu experienced it firsthand as a midfielder on Japan’s national soccer team. He’s now the coach, and he’s made amends. Japan won its World Cup group Thursday after beating 2010 champion Spain, 2-1, at the Khalifa International Stadium. Last week, the team defeated 2014 champion […]
Sales Boomerang and Mortgage Coach announced an API integration between Mortgage Coach and SaaS technology provider Polly on Thursday. Real-time data from Polly’s cloud-native Product and Pricing Engine (PPE) will feed into Mortgage Coach Total Cost Analysis (TCA) presentations through this integration, providing home loan comparisons for borrowers. “Now, lenders can merge the benefits of […]
San Diego, California-headquartered lender Guild Mortgage is staying true to its words of having an appetite for acquisitions. The company announced on Thursday it has acquired the Wisconsin-based lender Inlanta Mortgage to increase its purchase loans portfolio and its market penetration in the MidWest. The financial terms of the acquisition were not disclosed. Mary Ann […]
Wisconsin lender Inlanta Mortgage announced plans to shut down next year after laying off 62 employees. Inlanta was planning to expand in the summer, but the company failed to stay afloat amid worsening market conditions. “Due to the dramatic and unanticipated drop in mortgage product demand, business circumstances have dictated that Inlanta Mortgage’s assets be […]
The Federal Reserve Chairman Jerome Powell said during a Wednesday afternoon speech at the Brookings institute that monetary policy affects the economy and inflation with uncertain lags, and the full effects of the ongoing tightening have yet to be felt. The mortgage market, however, tells a different story. So far, the market has quickly reflected […]
Maleesa Smith IF YOU’RE LISTENING to the objectively smart voices in the industry, I hope by now you’ve heard the refrains of “win in any market,” “lean into the chaos” and “growth mindset.” If you haven’t, I urge you to do a quick audit of everyone you follow. (Quick plug: My team is producing content […]
Austin fintech startup Hitch has rolled out a HELOC platform to help homeowners tap into more than $100 billion in government grants available for home renovation. Established at the start of 2022, Hitch will give qualified owners access to up to 90% of the equity locked in their homes, the company said Thursday. One of […]
Credit reports are getting a lot pricier, and some mortgage lenders are none too pleased about it. In a letter dated Nov. 22, the National Consumer Reporting Agency told its members that the “vast majority” of mortgage lenders would see price increases between 10% and 400% from Fair Isaac Corp. (FICO). The letter, signed by […]
Christine McVie, the British-born Fleetwood Mac vocalist, songwriter and keyboard player whose cool, soulful contralto helped define such classics as “You Make Loving Fun,” “Everywhere” and “Don’t Stop,” has died at age 79. Her death was announced Wednesday on the band’s social media accounts. No cause of death or other details were immediately provided, but […]
The U.S. Department of Education’s Office for Civil Rights (OCR) today announced a resolution agreement with Fairfax County Public Schools in Virginia requiring it to take steps necessary to ensure that students with disabilities receive educational services, including compensatory services, resulting from the COVID-19 pandemic. details ⇒ BusinessMediaguide.Com portal received this content from this noted […]
Relief from the rate-driven volume reduction afflicting both the primary and secondary mortgage markets is expected to be elusive for some time to come, at least in terms of any renewed refinancing boost. That’s according to David Petrosinelli, a New York-based senior trader with InsphereX, a tech-driven underwriter and distributor of securities that operates multiple trading […]
A recent lawsuit filed by Banc of California is claiming that mortgage lenders and servicers Sprout Mortgage (now defunct) and Planet Home Lending owe $1.5 million related to the proceeds of two notes it owned and funded. In addition, the bank alleges that Sprout’s transactions with its warehouse lines have resulted in a deficiency of […]
The humble baguette — the crunchy ambassador for French baking around the world — is being added to the U.N.’s list of intangible cultural heritage as a cherished tradition to be preserved by humanity. UNESCO experts gathering in Morocco this week decided that the simple French flute — made only of flour, water, salt, and […]
The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s TECH100 award are now open through Friday, December 23, 2022. Click here to nominate your organization. Each year, the TECH100 awards recognize the 200 most influential tech companies in mortgage and real estate […]
Breakdancing is breaking new ground with the sport’s inclusion in the 2024 Paris Olympics, and scores of women are entering the traditionally male-dominated activity. Aron Ranen has the story from New York City. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
The National Association of Mortgage Brokers (NAMB) announced a series of roadshows in partnership with Freddie Mac and Rocket Pro TPO, starting Dec. 8 in St. Louis, Missouri. The events will feature speakers focused on professional development for loan originators to grow their business and what is likely to happen in the next Congress that […]
Mortgage rates dropped last week, but it wasn’t enough to spur mortgage demand. The market composite index, a measure of mortgage loan application volume, declined 0.8% for the week ending November 25 after rising 2.2% from the previous week, according to the Mortgage Bankers Association. The index fell by a whopping 67.8% compared to the […]
Given the market contraction and numerous layoffs in the industry, it may be surprising to think that loan officer recruitment and retention could be a focus for some lenders and independent mortgage banks right now. But due to the reduction of volume, it’s extremely important for lenders and IMBs to be able to replace that […]
Mortgage fairness for Black and Native Americans is no better today than it was 30 years ago, according to a new mortgage fairness report. The report, issued by “fairness-as-a-service” solution firm FairPlay AI, was based on a study of more than 350 million mortgage applications from 1990 to 2021. The applications were obtained from public […]
Ajmal Zazai, who fled Afghanistan after the Taliban’s takeover, now runs a store in San Antonio, Texas, selling traditional Afghan clothes and carpets For VOA, Zabiullah Ghazi has the story, narrated by Nazrana Yousufzai. Roshan Noorzai contributed. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
The Federal Housing Finance Agency (FHFA) on Tuesday announced that the baseline conforming loan limit for 2023 will be $726,200, an increase of 12.21%, or $79,000, compared to 2022. The federal government, through government sponsored enterprises Fannie Mae and Freddie Mac, will now back mortgage loans north of $1 million, with the new ceiling loan […]
A protester ran onto the field Monday carrying a rainbow flag and wearing a blue Superman T-shirt that said, “SAVE UKRAINE” on the front and “RESPECT FOR IRANIAN WOMAN” on the back during a World Cup match between Portugal and Uruguay. Security officials chased the protester down, and the flag was dropped on the field […]
Economic reports over the Thanksgiving holiday paint a complicated picture of what’s happening, and where we are on recession watch. The big economic surprise was the strength of Black Friday sales, where consumers spent a record $9.12 billion online. Another surprise was the Atlanta Fed’s forecast of 4.3% GDP growth in the fourth quarter, since […]
Pure wholesale lender Homepoint will provide a $500 credit on appraisal costs for borrowers buying primary homes that are designated as Fannie Mae HomePath properties, the company announced on Monday. This is the second initiative to be launched by Homepoint this year to reduce costs for borrowers who use the Ann Arbor, Michigan-based company. In […]
An exhibition in Turkey’s southeastern city of Diyarbakir gives viewers an in-depth look at local periodicals and other publications that are more than a century old. VOA’s Mahmut Bozarslan has the story, narrated by Bezhan Hamdard. Videographer: Mahmut Bozarslan details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Last week the Wall Street Journal published a story by Andrew Ackerman stating that the Biden administration wants to target nonbanks for tougher oversight and additional regulation. The story states, “the Biden administration is laying the groundwork to target nonbank firms with stricter federal oversight as regulators grow concerned about financial threats from companies operating […]
A meal fit for monkeys was served on Sunday at the annual Monkey Feast Festival in central Thailand. Amid the morning traffic, rows of monkey statues holding trays were lined up outside the compound of the Ancient Three Pagodas, while volunteers prepared food across the road for real monkeys — the symbol of the province […]
Oscar, Golden Globe and two-time Grammy winning singer-actress Irene Cara, who starred and sang the title cut from the 1980 hit movie “Fame” and then belted out the era-defining hit “Flashdance … What a Feeling” from 1983’s “Flashdance,” has died. She was 63. Her publicist, Judith A. Moose, announced the news on social media, writing […]
Robert Lewandowski at last scored a goal in a World Cup match Saturday, helping Poland beat Saudi Arabia 2-0 and boosting his team’s chances of reaching the knockout stages. Lewandowski shed tears after scoring in the 82nd minute. He raced toward the corner with his arms outstretched, then slumped on the field as teammates rushed […]
In London, Wong Wai-yi misses the taste of home. A year ago, the 31-year-old musician was in Hong Kong, earning a good living composing for TV and movies and teaching piano. Today, she makes about half as much money in London working part-time as a server alongside her musical pursuits. She chose the job in […]
England, which is gunning for its second World Cup title, has the most valuable squad in Qatar with Jude Bellingham topping a list of over 800 players, a study has found. Here is a look at how the other major sides compare at the tournament: Transfer value According to a study conducted by Swiss research […]
Throngs of spectators lined the streets of New York on Thursday as colorful, high-flying balloons helped usher in the holiday season during the Macy’s Thanksgiving Day Parade. The annual tradition, which dates back nearly a century, packed streets as a procession of giant inflatables and floats streamed for more than 40 blocks from Central Park […]
Today new home sales beat estimates, and new home median sales prices hit an all-time high. What is going on here? My job is always to be the detective, not the troll so let’s take a look at today’s data, as there is a constant theme here that I have talked about for some time. […]
It’s a terrible time for homebuyers. Mortgage rates for a 30-year fixed-rate loan are hovering around 7% levels and still-high home prices are slashing purchasing power. What helped Erica Davis, a loan originator at Guild Mortgage, in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. By taking advantage of the 2-1 temporary […]
Recent declines in mortgage rates, which are due to a slowdown in inflation growth, have been enough to convince some borrowers to apply for new home loans, according to recent data on mortgage applications. However, there are still forces pushing many borrowers — mainly lower-income buyers — to stay on the sidelines, industry experts say. […]
The current market downturn for mortgage lenders may be shorter than the previous cycles, mainly due to the recent rounds of workforce layoffs imposed by nonbanks. “While it is true that many nonbanks entered this downturn with a large war chest of cash and capital, this is more than offset by the impact of warehouse […]
Mortgage rates are changing every day – and those changes can have big effects on borrowers. Over the last year, it seems that most of those changes have taken an upward trajectory, but there are times that monitoring mortgage rates means good news, such as the rate drop from 7.37% on Nov. 9 to 6.67% […]
With mortgage rates down nearly 50 basis points from the recent peak about a month ago, borrower demand picked up again this week, according to the Mortgage Bankers Association (MBA). The market composite index, a measure of mortgage loan application volume, rose 2.2% for the week ending November 18 after registering a 2.7% increase in the previous week. Compared […]
Prepayment activity fell to another record low in October amid mortgage rates topping 7% and refis drying up. Black Knight expects that the steep declines in rate lock volume and seasonality factors point to further declines in prepayment activity. Prepayment dropped 16.5% to a single-month mortality rate of 0.48%, well below the previous record of […]
Movement Mortgage CEO Casey Crawford and President Mike Brennan. ” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2022/11/deal_02.jpg?w=300″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2022/11/deal_02.jpg?w=1024″ width=”1200″ height=”700″ src=”https://www.housingwire.com/wp-content/uploads/2022/11/deal_02.jpg?w=1024″ alt=”movement” class=”wp-image-370816″ srcset=”https://www.housingwire.com/wp-content/uploads/2022/11/deal_02.jpg 1200w, https://www.housingwire.com/wp-content/uploads/2022/11/deal_02.jpg?resize=150,88 150w, https://www.housingwire.com/wp-content/uploads/2022/11/deal_02.jpg?resize=300,175 300w, https://www.housingwire.com/wp-content/uploads/2022/11/deal_02.jpg?resize=768,448 768w, https://www.housingwire.com/wp-content/uploads/2022/11/deal_02.jpg?resize=1024,597 1024w, https://www.housingwire.com/wp-content/uploads/2022/11/deal_02.jpg?resize=600,350 600w” sizes=”(max-width: 1200px) 100vw, 1200px”>Movement Mortgage CEO Casey Crawford and President Mike Brennan. Movement Mortgage’s deal to acquire top indie retail lender Mortgage Network marks a shift […]