General World News

Don’t expect a ‘ramp up’: Fannie Mae trims estimates for home sales, origination volume

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Fannie Mae’s Economic and Strategic Research (ESR) Group said on Friday that it expects a slower recovery of the U.S. housing market than previously forecast. That’s because volatility in inflation readings and resilience in nonfarm payroll growth may provide the Federal Reserve confidence to cut benchmark rates only once in 2024.    “Unfortunately, we’re still not […]

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India beats Afghanistan at T20 World Cup

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BRIDGETOWN, Barbados — Fast bowler Jasprit Bumrah took three wickets for just seven runs as India beat Afghanistan by 47 runs in their Super Eight match at the Twenty20 World Cup on Thursday. Later, Pat Cummins took the first hat-trick of the tournament as Australia beat Bangladesh by 28 runs under the Duckworth-Lewis system due to […]

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Federal regulators approve final rule for AVM usage

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On Thursday, two U.S. regulators — the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC) — announced their approval of a final rule imposing quality control standards for automated valuation models (AVMs) used by mortgage originators and secondary market issuers. AVMs, which value residential real estate used as […]

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Finance of America takes action in move to raise stock price

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Finance of America (FOA), the leading U.S. reverse mortgage lender, has received shareholder approval upon recommendation of its board to perform a reverse stock split at a 10-to-1 ratio in a move designed to boost the company’s stock price. This is according to a company filing with the Securities and Exchange Commission (SEC) reviewed by […]

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Services provider Adfitech rebrands as Mortgage Connect Risk Solutions

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Oklahoma-based Adfitech, a mortgage industry partner for quality control and risk management services, has changed its name to Mortgage Connect Risk Solutions. The move reflects the company’s 2022 acquisition by Pennsylvania-headquartered Mortgage Connect LP. Mortgage Connect, a nationwide services provider for lenders, institutional investors and servicers, acquired Adfitech two years ago to expand its efforts […]

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Donald Sutherland, ‘M.A.S.H.’ and ‘Hunger Games’ actor, dies at 88

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NEW YORK — Donald Sutherland, the prolific film and television actor whose long career stretched from “M.A.S.H.” to “The Hunger Games,” has died. He was 88. Kiefer Sutherland, the actor’s son, confirmed his father’s death Thursday. No further details were immediately available. “I personally think one of the most important actors in the history of film,” […]

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loanDepot concludes $500M debt extension

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California-based loanDepot has concluded the transaction to extend $497.7 million in senior notes due in the fourth quarter of 2025, resulting in new debt with a higher interest rate and a shorter maturity period than usually seen in the market for similar companies. A loanDepot subsidiary, LD Holdings Group LLC, will exchange its outstanding senior […]

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Brussels refuses to host Belgium-Israel match over security fears

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Brussels — Brussels has refused to host a Nations League football match between Israel and Belgium on September 6 because it could spark demonstrations, city authorities said on Wednesday. They said holding such a match while the war in Gaza was continuing “will undoubtedly provoke large demonstrations and counterdemonstrations, compromising the safety of spectators, players, Brussels […]

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Gen X has regrets about retirement savings, study suggests

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Members of Generation X are more concerned about their post-retirement ability to support the lifestyles they’ve grown accustomed to when compared with other generations — including baby boomers and millennials — according to the results of a recent survey conducted by Allianz Life. In the company’s 2024 Annual Retirement Study, respondents indicated that 62% of […]

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Single-family rent growth tapers off: CoreLogic

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CoreLogic noted that depreciation in the attached-rental segment is mainly being driven by a subset of markets in Florida, along with other Sun Belt hubs such as Austin, New Orleans and Phoenix. “As multifamily apartments are being completed, some markets are gaining increased rental supply, which competes with the attached segment of the single-family rental […]

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CFPB takes enforcement action against former HECM servicing contractor

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The Consumer Financial Protection Bureau (CFPB) on Tuesday announced a series of enforcement actions against two companies for what the bureau called “illegal activities that harmed older homeowners and caused them to fear losing their homes.” The actions were taken against Pittsford, New York-based Sutherland Global and Landover, Maryland-based NOVAD Management Consulting, which together formed […]

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Mortgage rates continue their slide toward the 7% mark

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Mortgage rates continued to inch toward the 7% mark following last week’s meeting of Federal Reserve policymakers and new inflation data that showed further cooling of consumer prices. On Tuesday, HousingWire‘s Mortgage Rates Center showed that the average 30-year rate for conforming loans was 7.08%. That was down 11 basis points from the same time […]

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The Carrington Companies names Brett Wilbur as CIO

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The Carrington Companies has promoted Brett Wilbur to the position of chief information officer. He will succeed Brent Rasmussen, who will retire in early July.  It’s the second leadership change for the company this year. Wilbur will report directly to Andrew Taffet, the company’s chief investment officer, who was also tapped as CEO in March.  […]

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Top 4 planning questions for mortgage servicers before 2025 

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Having built and led mortgage operations for nearly three decades, planning for the future stands out amongst the most challenging components a leader faces. Accurately predicting housing trends, mortgage rates, technology, elections, the impact of the broader economy , or how consumers will behave tests the best of us at some point in our career. The approach I […]

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Immigrant gay couple finds acceptance in US LGBTQ+ community

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June is LGBTQ+ Pride Month in the United States. In Los Angeles, celebrations include a festival and parade that are among the world’s largest LGBTQ+ events. VOA’s Genia Dulot talked to an immigrant couple about their lives in the United States and their struggle for acceptance back home. details ⇒ BusinessMediaguide.Com portal received this content […]

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HUD issues $10M in counseling grants to ‘combat homeownership gap’

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The U.S. Department of Housing and Urban Development (HUD) announced Monday the availability of $10 million in new grants to be distributed to 23 HUD-approved counseling agencies nationwide, which will help the department boost homeownership rates within historically underserved communities. Announced Monday morning in Harrisburg, Pennsylvania, by Federal Housing Administration (FHA) Commissioner Julia Gordon, the […]

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Wells Fargo extends $5,000 closing cost credit

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Wells Fargo’s program that provides up to $5,000 in closing costs for low- and moderate-income families to purchase a home has been extended to an additional 16 metro areas, the bank announced on Monday. The credit is available for borrowers with combined incomes of up to 80% of their area’s median income who are seeking […]

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List of winners at the 2024 Tony Awards

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NEW YORK — Winners at the 2024 Tony Awards, announced Sunday. Best Musical: “The Outsiders” Best Play: “Stereophonic” Best Revival of a Musical: “Merrily We Roll Along” Best Revival of a Play: “Appropriate” Best Performance by an Actress in a Leading Role in a Musical: Maleah Joi Moon, “Hell’s Kitchen” Best Performance by an Actor in […]