Federal banking regulators on Monday issued guidance to remind financial institutions of their existing obligations for managing credit risk when lending to borrowers who are not legally authorized to work in the U.S. The Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corp. (FDIC) and the National Credit Union Administration (NCUA) […]
Big banks exceeded analysts’ expectations for mortgage origination volume in the second quarter of 2026, posting an average increase of 32% compared to the prior three-month period. The strong performance from depository institutions brings a glimmer of hope for nonbank lenders that are set to report Q2 earnings in the coming weeks. “The banks’ second-quarter […]
Inflation slowed in June amid a now-defunct Middle East ceasefire, casting doubt on a potential Federal Reserve rate hike next week. The June Consumer Price Index (CPI) fell 0.4% on a seasonally adjusted basis, following a 0.5% rise in May, according to the U.S. Bureau of Labor Statistics. That was the largest month-over-month decline since […]
AI in mortgage lending has evolved rapidly over the past two years, shifting from curiosity and experimentation to enterprise-wide operational transformation. Michael Vandi, founder and CEO of Addy AI, has spent the past several years working with mortgage lenders as mortgage AI adoption has evolved from experimentation to enterprise AI mortgage implementation. Vandi saw firsthand […]
Mortgage lenders continue to invest in AI, automation and digital transformation despite ongoing cost pressures. Yet many organizations still struggle to achieve the returns they expected. Larry Bailey, CEO of Mortgage Workflow Partners, said the problem isn’t the technology itself. It’s that lenders often implement new tools before fully understanding the workflows those tools are […]
Older adults with difficulty living independently are more likely to remain in their homes when states devote a larger share of long-term care spending to home- and community-based services, according to a new study. Researchers examined whether state investments in home- and community-based services — known as HCBS — were associated with changes in where […]
The Federal Housing Finance Agency (FHFA) wants to drop “reputational harm” as a basis for suspending firms and individuals that do business with Fannie Mae, Freddie Mac and the Federal Home Loan Banks. In a notice of proposed rulemaking published Monday in the Federal Register, the agency said removing the reputational-harm standard would “eliminate redundancy” and […]
AD Mortgage announced Monday that it completed its fifth non-QM residential mortgage-backed securities (RMBS) transaction of 2026, issuing a $432.4 million securitization backed by more than 1,000 residential mortgages. The transaction, known as AD Mortgage Trust 2026-NQM5, is backed by a pool of 1,008 residential loans, with 99% of the mortgages originated by AD Mortgage […]
As financial anxiety climbs and Americans accumulate record amounts of home equity, estate planning is becoming a larger part of retirement and housing conversations, with reverse mortgages among the tools that senior homeowners can use to access the wealth tied up in their homes. Cody Barbo, co-founder and CEO of Trust & Will, said the company’s […]
Fifteen named plaintiffs allege that Veterans United Home Loans — the nation’s largest lender of Department of Veterans Affairs (VA) mortgages — ran an illegal kickback and steering scheme that funneled borrowers into overpriced loans. The accusations were reiterated Thursday in court filings as the plaintiffs opposed a motion to dismiss an amended complaint that […]
An analysis published Friday by the Mortgage Bankers Association (MBA) suggests that using a single randomly selected credit bureau score, rather than the current multiscore “decisioning” method, would have little effect on loan pricing or guarantee fee revenue for the government-sponsored enterprises (GSEs). The MBA examined nearly 105,000 mortgage applications from the first half of […]
Washington says it wants to lower costs and expand access to credit. For millions of entrepreneurs, access to credit depends not only on the health of their businesses but also on their personal credit profiles. That is why regulatory decisions that make borrowing more complex or expensive deserve close scrutiny. Recent disclosures obtained through a […]
The multifamily capital stack is evolving. As elevated interest rates and tighter loan proceeds continue to reshape acquisition and refinancing strategies, investors are challenged by a market where senior loan proceeds and liquidity preservation are constrained. One effective solution is proprietary preferred equity behind Freddie Mac conventional loans. As demand for preferred equity Freddie Mac […]
The Federal Reserve on Thursday outlined a slate of five new task forces led by prominent academics and business leaders. They will scrutinize how the central bank communicates, manages its balance sheet, interprets data, evaluates productivity and jobs, and responds to inflation. The initiative, detailed in Fed press release, is aimed at advancing “the conduct […]
Three housing organizations sent a letter this week to leaders at Fannie Mae, Freddie Mac and their regulator, the Federal Housing Finance Agency (FHFA), regarding pending changes to condominium lending rules through the government-sponsored enterprises (GSEs). On July 8, the Community Home Lenders of America (CHLA), the Community Associations Institute (CAI) and the National Association […]
VantageScore on Wednesday announced the release of VantageScore 5.0, a new tri-bureau credit scoring model that the company says is designed to improve lenders’ ability to assess consumer creditworthiness, particularly for unsecured loans and auto financing. The new model is available through the three major U.S. credit reporting companies — Equifax, Experian and TransUnion — […]
Synergy One Lending, a division of American Pacific Mortgage (APM), will assume control of Newrez’s distributed retail mortgage business under a new strategic agreement announced Wednesday, extending an existing partnership and reshaping both lenders’ retail strategies. The transition moves Newrez’s distributed retail operations and personnel to Synergy One, which is building out a purpose-built retail […]
In a request for information (RFI) scheduled for publication Thursday in the Federal Register, the Consumer Financial Protection Bureau (CFPB) will seek public input on whether mortgage disclosure requirements and other lending regulations should be revised to reduce compliance burdens and improve access to mortgage credit. The RFI, viewed by HousingWire in its unpublished version […]
Unlock Partnership Solutions Inc., dba Unlock Technologies, has agreed to treat its home equity agreements (HEAs) as consumer credit under Colorado law, pay restitution to affected homeowners, and meet state licensing and disclosure rules, the Colorado attorney general’s office announced June 24. The office of Attorney General Phil Weiser said it determined Unlock’s products are […]
Former Federal Housing Administration Commissioner Frank Cassidy has rejoined Walker & Dunlop as a senior managing director after previously leading the FHA and serving as assistant secretary for housing at the U.S. Department of Housing and Urban Development. The news comes just a month after Cassidy resigned from his post after taking a brief leave […]
Loan originator pipeline growth has followed a familiar formula: originate a purchase loan, capture a refinance when rates fall and hope the borrower returns for their next home purchase. But in today’s housing market, that model is producing fewer opportunities. Purchase volume remains constrained, refinance activity is limited and lenders are searching for new ways […]
Several former Stockton Mortgage Corp. employees have denied allegations that they misappropriated trade secrets and interfered with the company’s business after leaving to join competitor Ixonia Bancshares, operating as Novus Home Mortgage, according to court filings. Eighteen defendants filed their answers Monday in the U.S. District Court for the Northern District of Alabama, responding to a […]
Finance of America (FOA) said Tuesday that it has expanded its HomeSafe Second reverse mortgage product into Louisiana, Missouri, Rhode Island and Washington, D.C., bringing the product’s availability to a total of 18 states and the District of Columbia. The expansion comes as more older homeowners seek ways to access home equity without refinancing existing […]
Atlantic Home Mortgage announced Tuesday the launch of Lendtrain, a refinance-focused online platform that allows homeowners to compare estimated refinance options in about 30 seconds without submitting a loan application or undergoing a credit check. The company said the platform is designed to help borrowers determine whether refinancing is worth pursuing before speaking with a […]
Better Mortgage has agreed to pay $7.185 million to settle a nearly six-year-long lawsuit, which alleges the company failed to pay overtime to mortgage underwriters it classified as exempt employees, according to court filings seeking preliminary approval of the agreement. The proposed settlement, filed July 1, would resolve claims brought by 211 current and former […]
The fight between Compass, the country’s largest brokerage, and Zillow, its largest listing portal, has been covered as a corporate turf war — dueling lawsuits, a judge in Chicago ordering tens of thousands of listings restored, executives trading accusations. A two-day federal hearing wrapped in Chicago on July 2, with post-hearing briefs due July 9 […]
The National Reverse Mortgage Lenders Association (NRMLA) is urging the U.S. Department of Housing and Urban Development (HUD) to overhaul several single-family property standards, arguing that current rules under the Federal Housing Administration (FHA)’s minimum property requirements are creating unnecessary costs and limiting access for older and rural borrowers. In a June 29 letter to […]
Analysts from Keefe, Bruyette & Woods (KBW) say that United Wholesale Mortgage (UWM) may be better off after losing its bid for Two Harbors Investment Corp. They argue that the failed acquisition removes leverage risk and increases the likelihood of a dividend cut that could strengthen the company’s balance sheet. In a flash note released […]
Mortgage lenders continued to reshuffle their sales forces last week as 266 loan originators changed employers and 1,823 individuals obtained Nationwide Multistate Licensing System (NMLS) licenses, according to RETR‘s new mortgage market intelligence report released Monday. Venkata Rajaneesh Jandhyam, who originated $118.7 million across 206 loans during the past 14 months, joined California-based Tri Valley […]
Generation Z accounted for a record 20% of home purchase rate locks in the second quarter, marking the largest share on record as younger buyers continue to gain ground despite ongoing affordability challenges, according to Intercontinental Exchange (ICE)’s July 2026 Mortgage Monitor. The report, released Monday, found that Gen Z now represents nearly one-third of […]
America has historically leaned heavily on the government-backed Home Equity Conversion Mortgage (HECM) program as a way for older homeowners to tap into their equity. But amid higher interest rates and steep upfront costs, private-sector alternatives are aggressively stepping in to fill the void. Proprietary reverse mortgages in the U.S. are evolving to offer higher loan-to-value ratios, […]
The Mortgage Industry Standards Maintenance Organization (MISMO) has updated its Mortgage Insurance Implementation Guide to incorporate data requirements for VantageScore 4.0 and FICO 10T, the Mortgage Bankers Association (MBA) subsidiary announced Thursday. The guide provides a standardized data framework for electronic information exchange between lenders and mortgage insurers across key processes, including mortgage insurance (MI) […]
With the first half of 2026 in the rearview mirror, the reverse mortgage industry continues to work through a variety of pain points that are keeping origination and securitization levels historically low. HousingWire‘s Reverse Mortgage Daily (RMD) analyzed page views to uncover the most popular stories during the first six months of the year. While […]
Mike Kortas is stepping into the mortgage servicing space with the launch of evoLend — a servicer approved for Fannie Mae, Freddie Mac and Ginnie Mae loans that’s initially designed to give NEXA Lending loan officers a competitive advantage in borrower relationships. In an interview with HousingWire, Kortas — the founder and CEO of NEXA […]
The mortgage market is producing inconsistent credit decisions on borrower profiles that it will encounter with increasing frequency. Borrowers aged 60 to 69 are currently 1.5% more likely to be rejected for a mortgage than younger applicants. Those over 70 face a 2.7% higher denial rate. These numbers don’t reflect elevated credit risk. They reflect […]
Finance of America (FOA) has closed an all-cash acquisition of reverse mortgage servicing rights from Onity Mortgage Corp., adding roughly 20,000 Home Equity Conversion Mortgages (HECMs) with a combined $5.2 billion in unpaid principal balance (UPB) to its portfolio, the companies announced Wednesday. The deal, disclosed by FOA in an 8-K filing with the Securities […]
Adjustable-rate mortgages (ARMs) remain a minority of total agency originations, but they have reemerged in 2026. This time, independent mortgage banks (IMBs) and more leveraged borrowers are driving a rise in market share, according to Polygon Research. The analysis, updated Monday by Polygon founder and CEO Val Buresch, found that ARMs rose to 3.34% of […]
A growing share of Americans now expect financial advisers to handle estate planning, and many would consider switching firms if they do not, according to Trust & Will‘s 2026 Financial Advisor Report. The survey of 1,500 U.S. adults found that 61% believe estate planning should be part of an adviser’s services, while 68% of clients […]
Finance of America (FOA) remained the top Home Equity Conversion Mortgage (HECM) lender in June 2026 as overall direct retail endorsements increased modestly from May but continued to trail last year’s pace, according to a HECMWorld.com report released Wednesday using data from Reverse Market Insight (RMI). The top 100 HECM retail lenders logged 2,064 loans […]
Boston-based home equity investment (HEI) provider Hometap is facing multiple lawsuits from customers claiming that the company has violated the Truth in Lending Act (TILA) and is promoting a “predatory and abusive mortgage loan product.” The latest class-action suit, filed June 23 by plaintiff Marlene Crawford, a Hometap customer and resident of California, accuses the […]
Fannie Mae and Freddie Mac on Wednesday released historical credit score data for FICO Score 10T and additional data for VantageScore 4.0, giving lenders a window into how the new models perform compared to the legacy Classic FICO model. The Federal Housing Finance Agency (FHFA) and Fair Isaac Corp. (FICO) agreed to terms for the release of the historical FICO Score 10T […]
Mortgage applications increased 0.04% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending June 26, 2026. Last week’s results included an adjustment for the Juneteenth holiday. On an unadjusted basis, the index increased 11% compared with the previous week. The refinance index decreased […]
Loan analysis and technology firm Reverse Market Insight (RMI) on Wednesday announced an expansion of its Reverse Qualifier tool, giving reverse mortgage originators the opportunity to price and model the benefits of proprietary products from SmartFi Home Loans alongside existing capabilities for Home Equity Conversion Mortgages (HECMs). RMI initially launched Reverse Qualifier in October 2025, […]
A major shift has happened inside American housing finance, and it should have the full attention of lenders, regulators and policymakers. For the first time on record, Americans 70 and older hold a larger share of the nation’s real estate wealth than Americans aged 40 to 54. That crossover happened in 2025. Older homeowners now […]
Nonqualified mortgage (non-QM) originations are on track to set another post-crisis record in 2026, as debt-service-coverage ratio (DSCR) and investor loans fuel growth in a still high-rate environment, according to a new Bank of America Securities report. In terms of non-QM securitizations, insurance demand for bonds remains strong and investors are looking for high-quality, jumbo-like […]