General World News

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 […]

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The story of Chinese Americans who call Texas home

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The state of Texas has the third-largest Asian American population in the U.S. Chinese Americans in the Lone Star State have roots that trace back for generations, just like those of their counterparts on the nation’s East and West coasts. While the history of these Texans might not be as well known, their stories are […]

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Vice Capital Markets is first to integrate Fannie Mae’s new loan pricing API

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Vice Capital Markets, a mortgage hedge advisory firm for independent lenders, banks and credit unions, announced Thursday that it is the first to integrate Fannie Mae’s new loan pricing application programming interface (API) into its trading portal. The API simplifies the loan pricing and commitment process by consolidating multiple pricing APIs into one. This gives […]

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Finance of America reports Q4 loss, full-year profit for 2024

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Reverse mortgage leader Finance of America (FOA) recorded a quarter-over-quarter loss in the fourth quarter of 2024, but still notched a full-year profit. In a Wednesday earnings call, company leaders outlined their assessment of the reverse mortgage market moving forward, describing 2024 as a year of “momentum” for the company owing to the achievement of […]

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ICE Mortgage Technology debts asset and audit analysis tools

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ICE Mortgage Technology has added new analysis tools, expanding its technology portfolio that’s designed to simplify underwriting and post-closing review processes. The company this week announced the debut of ICE Asset Analyzer and ICE Audit Analyzer, adding to the existing ICE Income and ICE Credit analyzers. The products, which are fully integrated into the Encompass […]

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Evergreen Home Loans expands into New Mexico

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Evergreen Home Loans has expanded into New Mexico, opening branches in Albuquerque and Carlsbad. The locations will be led by area manager Barry Abt, the company announced Wednesday. Evergreen, a direct mortgage lender serving the western U.S., provides origination, funding and servicing for home loans. “We are excited to bring the Evergreen Home Loans experience […]

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As Anthony Hsieh returns to the helm, loanDepot announces $202M loss in 2024

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loanDepot on Wednesday released its financial results for the fourth quarter and full year of 2024. The earnings report showcased a mixed picture for the Irvine, California-based mortgage lender. While the earnings report showed that loanDepot is making progress in revenue growth and operational efficiency, achieving sustained profitability is proving to be more difficult. In […]

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Mortgage applications climb as rates continue to decline

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Mortgage applications increased 11.2% on a seasonally adjusted basis from last week, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending March 7, 2025. On an unadjusted basis, the index increased 12% compared to last week. The refinance index saw a 16% uptick from the previous week […]

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What has the CFPB done for the reverse mortgage industry?

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Since it was originally founded in the wake of the 2008 financial crisis, the Consumer Financial Protection Bureau (CFPB) has been a chief figure in the regulatory enforcement of the mortgage industry, including the reverse mortgage business. But recent reports suggest that the Trump administration will aggressively scale back the bureau’s headcount and seek to […]

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CertifID’s Tom Cronkright on how CISA cuts could impact cybersecurity practices

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The Trump administration has cut millions of dollars in federal funding from two cybersecurity initiatives, including one dedicated to helping state and local election officials. The U.S. Cybersecurity and Infrastructure Security Agency (CISA) has ended about $10 million in annual funding to the nonprofit Center for Internet Security, a CISA spokesperson told The Association Press […]

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New vision of architecture popping up across US deep South

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The American South has long been associated with white-columned mansions, rustic farmhouses, and aging structures steeped in history. But an exhibition at the National Building Museum in Washington is showcasing the vibrant, modern and forward-thinking architecture emerging from the region today. Maxim Adams has the story. Video editor: Sergii Dogotar, Anna Rice details ⇒ BusinessMediaguide.Com […]

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CFPB COO gives details of DOGE’s scaling back agency in court

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Following the controversial actions of the U.S. DOGE Service’s attempts to severely reduce the headcount and enforcement capacity of the Consumer Financial Protection Bureau (CFPB), the agency’s chief operating officer has offered more details about efforts to scale back the agency. In an evidentiary hearing stemming from a lawsuit brought by the National Treasury Employees […]

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Pennymac hires Isaac Boltansky as head of public policy

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PennyMac Financial Services Inc. on Tuesday announced the appointment of Isaac Boltansky as managing director and head of public policy. “Pennymac is pleased to welcome Isaac to our strong team of industry professionals. In moments of industry transformation, it is critical to have leaders who understand the ecosystem with the expertise to shape the future […]

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Tomo Mortgage closes $20M Series B funding round

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Tomo Mortgage on Tuesday announced the closure of $20 million in Series B funding that was led by three existing investors and a new participant. The funding round was led by prior investors Ribbit Capital, DST Global and NFX along with new investor Progressive Insurance. Tomo, which was founded in 2020 by former Zillow executives […]

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Milestone Mortgage acquires Willow Home Loans with ‘goal to be No. 1’

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Federally registered broker and correspondent lender Milestone Mortgage Solutions has acquired Willow Home Loans and is looking to join the $1 billion origination club this year. Milestone, the largest brokerage in Massachusetts over the past three years, said the companies will be able to combine Willow’s top-drawer proprietary technology platform with Milestone’s federal registration and […]

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Music flows in Roberta Flack’s ‘Celebration of Life’ memorial with Stevie Wonder and Al Sharpton

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NEW YORK — A public memorial service bursting with choral music and the Berklee College of Music’s Nebulous String Quartet, with Stevie Wonder and the Rev. Al Sharpton also on the bill, celebrated the life and legacy of Grammy-winning singer and pianist Roberta Flack.  Flack’s songs “The First Time Ever I Saw Your Face” and “Killing […]

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HomeVision, Restb.ai partner on AI in collateral underwriting

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HomeVision, a collateral underwriting and appraisal review platform, has partnered with artificial intelligence (AI) firm Restb.ai to integrate computer vision technology into real estate valuation processes. The collaboration will incorporate Restb.ai’s AI-powered image recognition into HomeVision’s Machine Intelligence Review Assistant (MIRA) platform. The companies say the technology will improve appraisal accuracy, automate parts of the […]

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Drew Church joins Rate as SVP and regional sales manager

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Rate, formerly known as Guaranteed Rate, has hired Drew Church to its team as a senior vice president and regional sales manager. Church confirmed the news in a LinkedIn post on Sunday evening. Church, who is based in Charlotte, joins Chicago-headquartered Rate from Integrity Home Mortgage Corp., where he served as regional sales manager from […]

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Writers, artists adapt AI technology to gain creative control

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Artificial intelligence companies train their AI models using the works of writers, artists and creatives who typically aren’t credited or compensated. Instead of fighting AI, some tech companies are encouraging creators to take advantage of it. Tina Trinh reports. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com

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How Mortiles use technology and vendors services to push title searches into the future

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Artificial intelligence (AI), predictive underwriting, and blockchain technology are becoming more common in today’s real estate industry. As a result, professionals in the title and foreclosure industries must evolve to keep up with upcoming trends. However, long-standing challenges still persist within foreclosure firms, title and escrow companies, and title insurance underwriters. Some examples may include […]

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Korean moon jars shine in Colorado show

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Traditional Korean moon jars and modern takes on the elegant white vases are the focus of a new art exhibit in the Rocky Mountain state of Colorado. VOA Correspondent Scott Stearns has the story from Denver. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com