General World News

California wildfire victims could have up to 12 months of mortgage forbearance

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Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac are aiming to remind homeowners and renters impacted by the ongoing wildfires in Los Angeles of various relief options. These include forbearance and other payment deferral plans, as well as disaster recovery counseling programs through the U.S. Department of Housing and Urban Development (HUD). “The number one […]

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With tourism booming, Egypt showcases new discoveries from its ancient past

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Egypt hosted a historic number of tourists last year —15.7 million, despite regional challenges — surpassing records set in 2023 and 2010. Around the city of Luxor, Cairo-based photojournalist Hamada Elrasam captured newly unearthed antiquities showcased this month. Captions by Elle Kurancid. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com

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AFR’s Rob Pieklo explores the state of the 2025 wholesale mortgage market

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In a new episode of 10 Minute Talks, HousingWire President Diego Sanchez sits down for an in-depth conversation with Rob Pieklo, president and chief operating officer of American Financial Resources (AFR). During the 10-minute conversation, Pieklo explores his new focus on developing AFR’s wholesale lending strategy, the competitive landscape of the mortgage market, and the […]

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As LA fires burn, reverse mortgage industry emphasizes need for servicer, insurer contacts

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With more than 153,000 people currently under evacuation orders in the Los Angeles area due to multiple wildfires, an estimated 10 deaths and thousands of structures burned, the reverse mortgage industry at multiple levels is mobilizing with a clear, overarching message: Impacted borrowers must get in touch with their loan servicer and insurance carrier as […]

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HUD secretary nominee Scott Turner to have Senate confirmation hearing next week

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The U.S. Senate Committee on Banking, Housing and Urban Affairs announced that it will hold a confirmation hearing on Thursday, Jan. 16, for Scott Turner to lead the U.S. Department of Housing and Urban Development (HUD). Scott Turner, the nominee to lead HUD under President-elect Donald Trump. ” data-image-caption=” Scott Turner ” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2024/11/scottturner_hud.jpg?w=201″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2024/11/scottturner_hud.jpg?w=534″ src=”https://www.housingwire.com/wp-content/uploads/2024/11/scottturner_hud.jpg?w=534″ […]

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December jobs report comes in stronger than expected

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While the unemployment rate was up compared to the start of the year, the job market ended the year up, with 256,000 jobs added to the economy in December according to data released Friday by the U.S. Bureau of Labor Statistics (BLS). Unemployment finished the year at a rate of 4.1%, down from 4.2% the month prior. The unemployment […]

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New CFPB report looks at reverse mortgage activity in 2023

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The Consumer Financial Protection Bureau (CFPB) in December released its 2023 Mortgage Market Activity and Trends report, which included a brief look at activity from the reverse mortgage industry based on Home Mortgage Disclosure Act (HMDA) data from 2023. While the majority of the data largely excluded reverse mortgages from trends in the broader mortgage […]

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Xactus hires Mike Brown to oversee product strategy and market innovation

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Mortgage verification services firm Xactus announced this week that it appointed Mike Brown, its former chief integration officer, as its new chief product officer. This hiring underscores the company’s commitment to technology and product innovation. Brown will oversee Xactus’ product life cycle from ideation and development to launch and implementation. His hiring follows another key […]

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Teresa Carlile hired as president of Ridgeland Mortgage

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Ridgeland Mortgage, a recently formed joint venture between loanDepot and homebuilder Smith Douglas Homes, on Thursday announced the appointment of Teresa Carlile as president. In her new role, Carlile will lead Ridgeland’s growth strategy and daily operations. “Teresa is a trusted leader in the mortgage industry, and as our first key hire, she’s an exceptional […]

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Sandra Thompson to depart FHFA prior to Trump inauguration

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Federal Housing Finance Agency (FHFA) Director Sandra Thompson will leave her post on Jan. 19, a day before the inauguration of President-elect Donald Trump, according to an agency spokesperson who spoke with Bloomberg. Thompson first joined FHFA following a 23-year tenure at the Federal Deposit Insurance Corp. (FDIC) before becoming its deputy director in 2013. […]

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The Mortgage Firm to invest $1.5M to settle DOJ redlining case

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The Mortgage Firm, a Florida-based mortgage lender, has agreed to invest $1.5 million to settle a redlining case with the U.S. Department of Justice (DOJ), the parties announced Wednesday.  The DOJ accused the company of discrimination against predominantly Black and Hispanic neighborhoods in the Miami-Fort Lauderdale-West Palm Beach metropolitan area. The complaint, filed in the […]

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Rocket’s Varun Krishna on technology and brand presence: ‘We are the Apple of homeownership’

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In this week’s episode of the Power House podcast, HousingWire President Diego Sanchez is joined by Varun Krishna, CEO of Rocket Companies and Rocket Mortgage, to explore his background, Rocket’s tech-focused approach to servicing and retention, and its upcoming brand transformation in 2025.  This conversation has been edited for length and clarity. To kick off […]

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The top 10 reverse mortgage lenders of 2024

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2024 is in the rearview mirror, and with many reverse mortgage professionals naming interest rates as the key challenge that defined the year, performance metrics appear to be bearing that out. The reverse mortgage industry’s total annual Home Equity Conversion Mortgage (HECM) volume saw a dip, but there was some shuffling among the leading players […]

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Nearly half of retirees worry they’ll outlive their savings, while 25% are burdened by housing costs

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Forty-five percent of retirement-age survey respondents are concerned that they will outlive their savings while 25% spend nearly one-third of their monthly income on housing costs. This is according to new data released by Clever Real Estate. The survey results show stark declines in overall financial sentiment based on responses from 1,000 retired Americans at […]

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Ally Financial closes mortgage origination business

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Higher-for-longer mortgage rates have claimed their first victim of 2025. Ally Financial announced Wednesday that it would exit the mortgage origination business as part of a broader strategy to pursue higher returns on investments. The company also plans to explore strategic alternatives for its credit card business in the first quarter of 2025. These changes […]

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AmeriTrust Mortgage hires Jett Farrington as COO

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Jett Farrington Farrington will aim to expand AmeriTrust’s operations on the California-based direct lender AmeriTrust Mortgage announced a new addition to its leadership team. The company welcomed veteran mortgage executive Jett Farrington this week as its new chief operating officer. Farrington joins a C-suite leadership team consisting of CEO Chad Schoep and chief financial officer […]

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Embracing new technology: Swapping Encompass SDK for Encompass Partner Connect with GridBase

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Mortgage and title clients are undergoing a significant transformation with the shift from Encompass Software Development Kit (SDK) to Encompass Partner Connect (EPC). This change — driven by ICE Mortgage Technology’s updated standards — promises enhanced efficiency, cost savings, and future-proof workflows. However, for many lenders and title agents, the path to compliance can be […]

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HUD announces $12B in long-term disaster assistance across 24 states

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The U.S. Department of Housing and Urban Development (HUD) on Tuesday announced the allocation of nearly $12 billion in Community Development Block Grant-Disaster Recovery (CDBG-DR) funds for communities across 24 U.S. states and territories. This money is designed to go toward long-term recovery efforts for communities impacted by recent natural disasters. The announcement — made […]

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James Whitlinger takes over permanent CFO slot at Freddie Mac

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Freddie Mac on Tuesday announced the appointment of James Whitlinger as executive vice president and chief financial officer, effective Jan. 1. Whitlinger has served as interim CFO since Christian Lown’s departure in June 2024. “It’s with great pleasure that we announce Jim Whitlinger as the company’s new chief financial officer,” Freddie Mac CEO Diana Reid […]

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CFPB unveils rule to erase medical debt from credit reports

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Amid a regulatory push ahead of the White House transition, the Consumer Financial Protection Bureau (CFPB) unveiled a new rule on Tuesday to eliminate medical debt from credit reports. The regulation is expected to raise the number of mortgage approvals by about 22,000 loans per year. The rule amends Regulation V, which enforces the Fair Credit […]

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Exclusive: Lower acquires software company Neat Labs

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Multichannel mortgage lender Lower has acquired software company Neat Labs to transform its point-of-sale technology into a fully integrated application-to-funding mortgage platform, aiming to reduce reliance on third-party vendors.  The stock-based deal was finalized in December, though financial details were not disclosed. “It’s very hard to build this technology from scratch,” Dan Snyder, CEO and […]

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MBA promotes Jamie Woodwell to lead its commercial, multifamily public policy efforts

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The Mortgage Bankers Association (MBA) on Monday appointed Jamie Woodwell as its senior vice president of commercial/multifamily policy and strategic industry engagement. Woodwell brings 20 years of experience at MBA to the new role. He transitions from a previous position as vice president of research and economics. The executive’s work has focused on key policy […]

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Prosperity’s Justin Messer talks customer satisfaction and 2025 mortgage rate predictions

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In the newest episode of the Power House podcast, HousingWire President Diego Sanchez sits down for a conversation with Prosperity Home Mortgage CEO Justin Messer. The duo explore Prosperity’s transition from refinances to purchase mortgage originations, the company’s Realtor affiliate model, servicing partnerships and mortgage rate predictions for 2025. This conversation has been edited for […]

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Arc Home doubles down on executive leadership hirings

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Nonqualified mortgage (non-QM) and nonagency lender Arc Home on Monday announced the additions of John Gibson as chief production officer and Eamon Cantwell as chief operations officer. Gibson will focus on enhancing Arc Home’s production capabilities, strengthening broker and correspondent relationships while advancing the growth of the company’s non-QM, nonagency and HomeEQ products, according to a company announcement. “I’m honored […]

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GVC Mortgage hires Jen Peachman as VP of strategic lending

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GVC Mortgage announced the hiring of Jen Peachman as vice president of strategic lending, a move that Peachman confirmed on LinkedIn. Per the Chrisman Commentary, a daily mortgage newsletter produced by Rob Chrisman, GVC said that Peachman “will play an integral role in expanding our retail branch network across the GVC Lending footprint.” With more than 20 […]