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Onity leaders talk reverse channel profitability, tease proprietary product development

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Despite having lower overall volumes when compared to the forward mortgage business, Liberty Reverse Mortgage remains one of the more profitable segments of parent company Onity Group’s portfolio, according to information shared by executive leaders at a recent investor presentation. At this month’s Sidoti Virtual Investor Conference, Onity leaders including CEO Glen Messina and chief […]

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Homebuyers are taking more risks in an obstacle-filled market

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The U.S. housing market remains challenging for prospective buyers as concerns over mortgage rates, home prices and affordability persist in 2025. With affordability shrinking, buyers are taking more risks to secure homes, according to HomeLight’s 2025 Lender Insights & Predictions survey. Findings include 71% of loan officers reporting an increase in buyers who are willing […]

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Tariff uncertainty is making the Fed’s job harder

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The Federal Open Market Committee (FOMC)’s job is never easy as policymakers must sift through mounds of data to arrive at policy decisions that will never be universally applauded. But the committee’s task has gotten more difficult with the return of Donald Trump to the White House. The president’s desire to overhaul the federal government […]

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FHA loans dominate delinquencies in ICE’s ‘first look’ report

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The national delinquency rate edged up 5 basis points (bps) to 3.53% in February, which marked a month-over-month change of 1.45% and a year-over-year change of 5.69%. That’s according to Intercontinental Exchange’s (ICE) first look for its February 2025 month-end mortgage performance statistics. Today’s first look at the data revealed that FHA mortgages accounted for […]

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Top execs at Freddie Mac, FHFA fired: report

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The top executives at Freddie Mac, along with a top HR official at the Federal Housing Finance Agency (FHFA), were fired today, according to a report on SEMAFOR. The publication reported that Freddie Mac’s CEO, COO and head of HR plus the FHFA’s COO and head of HR were all fired on Thursday. The news […]

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Frustration builds among retirees over more stringent Social Security rules, office closures

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Retirees and advocates for older Americans are expressing unease and bewilderment at a series of announcements made by the Social Security Administration (SSA). The agency is seeking to implement new in-person identity verification requirements and plans to close more than two dozen field offices across the country, according to CBS News. On Wednesday, SSA announced […]

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To prioritize speed, HUD says it will simplify disaster recovery funding process

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In a move designed to increase the speed that recovery funds can be provided, the U.S. Department of Housing and Urban Development (HUD) on Thursday published a universal notice about Community Development Block Grant Disaster Recovery (CDBG-DR) programs that will consolidate guidance from disparate notices going back to 1992. The notice “consolidates relevant requirements from […]

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Rocket is acquiring Redfin’s huge flow of purchase leads. Can the mortgage giant convert them?

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Rocket Companies hopes to close a $1.75 billion deal to acquire Redfin in 2025. ” data-image-caption=” Rocket Companies hopes to close a $1.75 billion deal to acquire Redfin in 2025. ” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2025/03/Copy-of-Newsroom-Template-9.jpg?w=300″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2025/03/Copy-of-Newsroom-Template-9.jpg?w=1024″ src=”https://www.housingwire.com/wp-content/uploads/2025/03/Copy-of-Newsroom-Template-9.jpg?w=1024″ alt=”Rocket Companies hopes to close a $1.75 billion deal to acquire Redfin in 2025.” class=”wp-image-511728″ srcset=”https://www.housingwire.com/wp-content/uploads/2025/03/Copy-of-Newsroom-Template-9.jpg 1200w, https://www.housingwire.com/wp-content/uploads/2025/03/Copy-of-Newsroom-Template-9.jpg?resize=150,84 150w, https://www.housingwire.com/wp-content/uploads/2025/03/Copy-of-Newsroom-Template-9.jpg?resize=300,169 300w, […]

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First-time homebuyers becoming first-time home sellers

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The surge in first-time homebuyers during 2020 has led to a new trend: first-time home sellers. Many who bought during the pandemic are now rethinking their decisions, citing changing lifestyles, financial miscalculations, and shifting market conditions, according to new data from Opendoor. A survey of 1,000 first-time sellers found that 79% regretted aspects of their […]

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Truework launches automated income verification platform

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Truework bolstered its mortgage technology platform by creating a new tool, Truework Intelligence, the company announced on Thursday. The platform will give property managers and mortgage lenders access to a comprehensive, end-to-end verification tool. Truework calls the new and improved platform the first automated and comprehensive income verification tool. The company said that Truework Intelligence […]

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Longbridge appoints new head of credit policy, underwriting and QC

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Financial services veteran Patrick Halonen has joined reverse mortgage lender and servicer Longbridge Financial as the company’s new head of credit policy, underwriting and quality control. “With over 25 years of expertise in the financial services industry, Halonen’s appointment underscores Longbridge’s continued commitment to enhance its operational frameworks as the company continues to expand,” the […]

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Cardinal Financial launches loan processing solution for mortgage brokers

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Cardinal Financial Wholesale has introduced Cardinal Complete, a new loan processing solution aimed at streamlining operations for mortgage brokers. The platform offers an end-to-end processing service designed to reduce administrative burdens and improve efficiency from application to closing. The service, powered by Cardinal Financial’s proprietary loan origination system, Octane, provides brokers with a dedicated team […]

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Federal Reserve keeps benchmark interest rates unchanged

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There was no surprise on Wednesday as the Federal Open Market Committee (FOMC) chose to leave the federal funds rate unchanged at a range of 4.25% to 4.5%. The decision was almost universally expected by market observers as the Federal Reserve weighs data that could be pushing the U.S. toward a recession. The short-term direction […]

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Mortgage applications drop after weeks of growth

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Mortgage applications decreased 6.2% from last week, which marked the first decrease in several weeks. That’s according to the latest data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending March 14, 2025. The Market Composite Index, which measures mortgage loan application volume, decreased 6.2% on a seasonally adjusted basis […]

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The state of the reverse mortgage business in early 2025

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Reverse mortgage business in the early part of 2025 has been humming along consistently, though not exactly “booming” as mortgage rates remain elevated and lenders are moving on their own initiatives to expand business and further forge partnerships with the forward mortgage side of the industry. This is according to descriptions by some of the […]

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Valon partners with VIU by HUB on instant home insurance quotes

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Insurance brokerage platform VIU by HUB has partnered with mortgage servicing company Valon to provide homeowners with streamlined insurance options amid rising costs. Through the partnership, Valon customers will have access to instant insurance quotes from multiple carriers along with guidance from licensed agents. The collaboration aims to simplify policy management and renewals while helping […]

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Mortgage rates are stable even as the economic outlook dims

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Mortgage rates appear to have plateaued after several weeks of steady downward movement. On Tuesday, 30-year conforming rates were at 6.79% and 15-year conforming rates were at 6.58%, according to HousingWire’s Mortgage Rates Center. The 30-year rate is unchanged from a week ago while the 15-year rate has risen by 12 basis points. The Federal […]

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OCC terminates 2021 Wells Fargo consent order

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In the wake of broader regulatory pullback by the federal government, Wells Fargo announced this week that the Office of the Comptroller of the Currency (OCC) terminated a 2021 consent order over loss mitigation deficiencies in its home-lending business, which itself also stemmed from what the OCC said was a result of the bank violating […]

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Pulte makes sweeping changes to boards of GSEs

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Not wasting any time following his Senate confirmation last week, Federal Housing Finance Agency (FHFA) Director Bill Pulte made a series of major changes to the boards of government-sponsored enterprises Fannie Mae and Freddie Mac according to filings with the Securities and Exchange Commission (SEC). The news was first reported by Inside Mortgage Finance. Based […]

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Xactus launches open API portal

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Verification technology company Xactus on Monday announced the launch of its open API portal, which allows partners to access integration rules that enable a faster, easier way to integrate their own tools or platforms with Xactus360, an Intelligent Verification Platform (IVP). “Launching our open API portal is a major milestone in Xactus’ journey to becoming […]

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Kickback accusations nothing more than government abuse and overreach, Pennsylvania mortgage brokerage says

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More state attorneys general are getting in on the Real Estate Settlement Procedures Act (RESPA) action. In mid-January, Pennsylvania’s former attorney general Michelle Henry filed a kickback lawsuit against Barry Newhart and six mortgage entities he controls: Bright Financial Group, Conquest Mortgage, Flagship Home Loans, Legacy Mortgage Partners, Nittany Home Loans, MCT Financial, Conquest Holdings […]

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NRMLA requests WA Senate amend foreclosure bill to reflect reverse mortgage laws

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A bill being deliberated in the Washington State Senate regarding a foreclosure mediation program would except reverse mortgage borrowers over the age of 61. However, this would not include slightly younger borrowers seeking a proprietary reverse mortgage within the state, and the National Reverse Mortgage Lenders Association (NRMLA) has requested that the bill be updated […]

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Ardley named winner of TMC’s Mortgage Tech Demo Day

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The Mortgage Collaborative‘s (TMC) Emerging Technology Fund hosted its seventh annual Mortgage Tech Demo Day (MTD) on March 16 at the collaborative’s “Live Large, Think Big!” conference in Arlington, Texas. Sponsored by Docutech, MTD allows early-stage mortgage tech companies to showcase their technology to industry leaders, investors and venture capitalists. Six forward-thinking startups were selected […]

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Mortgage lenders emerge as CFPB defenders, with caveats

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Since the inauguration of President Donald Trump, his administration has aggressively sought to curtail the functions of the Consumer Financial Protection Bureau (CFPB). This has led to a coordinated legal response from a cadre of its employees and consumer advocacy groups, seeking to reverse some of the administration’s actions. But one industry that has emerged […]

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Rising production expenses hit IMB profits in Q4 2024

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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 […]

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Supreme Lending looks to expand along the West Coast

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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 […]

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Andrew Pohlmann named SVP, business development at Cenlar

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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. […]

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Senate confirms Bill Pulte as FHFA director

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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 […]