General World News

New listings data falls for third week in a row 

Posted on

New listings data has been moving lower over the last few weeks. I usually wouldn’t care too much about this as its a data line that can be volatile week to week but now it’s been three weeks. The moves haven’t been significant and our weekly pending contracts data picked up this week. But, we […]

General World News

Film director Rasoulof fled Iran on foot, newspaper says

Posted on

London — Film director Mohammad Rasoulof made an “exhausting and extremely dangerous” walk across a mountainous borderland to avoid being jailed in Iran on national security charges, he told The Guardian newspaper.  Rasoulof said Monday he had fled Iran after a court sentenced him to eight years in jail, of which five were due to be […]

General World News

Mexico City taco stand earns Michelin star

Posted on

MEXICO CITY — Newly minted Michelin-starred chef Arturo Rivera Martínez stood over an insanely hot grill Wednesday at the first Mexican taco stand ever to get a coveted star from the French dining guide and did exactly the same thing he’s been doing for 20 years: searing meat. Though Michelin representatives came by Wednesday to present […]

General World News

Vatican moves to adapt to hoaxes, Internet

Posted on

VATICAN CITY — The Vatican on Friday overhauled its process for evaluating alleged visions of the Virgin Mary, weeping statues and other seemingly supernatural phenomena that have marked church history, putting the brakes on making definitive declarations unless the event is obviously fabricated. The Vatican’s doctrine office revised norms first issued in 1978, arguing that they […]

General World News

Dabney Coleman, actor who specialized in curmudgeons, dies

Posted on

new york — Dabney Coleman, the mustachioed character actor who specialized in smarmy villains such asd the chauvinist boss in “9 to 5” and the nasty TV director in “Tootsie,” has died. He was 92.  Coleman died Thursday at his home in Santa Monica, his daughter, Quincy Coleman, said in a statement to The Associated Press. […]

General World News

Chase Home Lending increases its closing guarantee

Posted on

Chase Home Lending, the consumer and commercial banking arm of JPMorgan Chase & Co., has raised its closing guarantee from $5,000 to $20,000 until July 27, 2024, the bank announced on Thursday.  The guarantee means that the bank promises an on-time closing on or before the contract closing date, or it will pay the homebuyer $20,000. […]

General World News

Jonathan Scarpati joins NRMLA board of directors

Posted on

The National Reverse Mortgage Lenders Association (NRMLA) this week announced that Jonathan Scarpati, senior vice president of wholesale production at Finance of America (FOA), has joined its board of directors for the remainder of the 2024 term. Scarpati is a 20-year reverse mortgage industry veteran, having joined Senior Lending Network in 2003 as vice president […]

General World News

Mortgage advisory firms Stratmor Group, Teraverde merge

Posted on

Mortgage advisory firm Stratmor Group has merged with Teraverde, a mortgage advisory firm and technology solutions provider, in a deal that the companies say will allow them to expand the markets they serve and the depth of services provided. The terms of the deal were not disclosed. Both firms will operate under the Stratmor brand, […]

General World News

Mr. Cooper’s CIO on deploying AI for the biggest wins

Posted on

Editor in Chief Sarah Wheeler sat down with Sridhar Sharma, executive vice president and chief information officer at Mr. Cooper, to talk about how the company is using machine learning and artificial intelligence to increase productivity while making their customers happier. Sarah Wheeler: You came into the mortgage space about nine years ago after leading […]

General World News

Bob Broeksmit proposes housing czar to address ‘regulatory knots’

Posted on

Mortgage Bankers Association (MBA) president and CEO Bob Broeksmit proposed creating a national director to oversee housing policies and address the “regulatory knots” that “sap the country’s economic strength.” This czar, called the “National Housing Policy Director,” would be directly located in the White House, accountable to the President, and able to spot – and […]

General World News

HUD announces $1.1B to fund tribal housing and community development

Posted on

The U.S. Department of Housing and Urban Development (HUD) on Wednesday announced that the Biden administration has approved a record $1.1 billion in funding for the Indian Housing Block Grant (IHBG) program, and an additional $75 million funding opportunity for the Indian Community Development Block (ICDBG) program to “support housing and community development projects.” The […]

General World News

CHLA: Here’s how to modernize ‘short-changed’ Ginnie Mae

Posted on

The Community Home Lenders of America (CHLA) on Wednesday released a plan that it says would “modernize” Ginnie Mae, the government-owned company that manages the securitization of government-sponsored loans. The CHLA argues that Ginnie Mae has not been given sufficient budget authority by the congressional appropriations process despite the value it generates. Its plan takes […]

General World News

VantageScore releases new credit-scoring model

Posted on

VantageScore has released a pilot of its latest credit-scoring model, VantageScore 4 Plus, for banks, fintechs and government lenders. The new model combines alternate open banking data with traditional credit data, which it claims gives lenders a “substantial predictive lift of up to 10% compared to the industry leading VantageScore 4.0 credit score, which itself […]

General World News

The mortgage rate lock-in didn’t start in 2022

Posted on

This is an excerpt of a HousingWire Research white paper titled: What Everyone Needs to Know about Mortgage Rate Lock-in, by Altos President Mike Simonsen. In the 24 months beginning March 2022, the U.S. housing market saw dramatic changes in affordability as mortgage rates skyrocketed 500 basis points. After an initial rush to get to […]

General World News

Biden-Harris Administration Allows Borrowers More Time to Consolidate Loans to Get Credit for Progress Toward Loan Forgiveness Programs

Posted on

The Biden-Harris Administration today announced an update on the timing of the payment count adjustment. This administrative fix ensures borrowers get proper credit for progress borrowers made toward income-driven repayment (IDR) forgiveness and Public Service Loan Forgiveness (PSLF). The payment count adjustment is now anticipated to be fully implemented in September 2024. At that time, […]

General World News

Old Hollywood glamour sizzles at National Portrait Gallery exhibit

Posted on

He captured the most famous faces in 1930s and early ’40s cinema — Garbo, Crawford, Bogart and Gable. Now the work of George Hurrell, one of Hollywood’s greatest portrait photographers, is on display at Washington’s National Portrait Gallery. For VOA News, Cristina Caicedo Smit has the story. Videographer: Hakim Shammo; Video editor: Cristina Caicedo Smit […]

General World News

Inflation eases for the first time in three months

Posted on

The most anticipated economic report of the month showed that inflation cooled down a little in April, bringing relief to investors and housing industry professionals. Consumer prices in April were up 3.4% from a year earlier, down from 3.5% in March, according to data released by the Bureau of Labor Statistics on Wednesday. The reading, […]

General World News

Iranian director Rasoulof urges film world to support colleagues

Posted on

cannes, france — Film director Mohammad Rasoulof, who has secretly fled Iran for an undisclosed location in Europe, urged the world film community on Tuesday to provide “strong support” to his colleagues. Rasoulof, who was sentenced to jail on national security charges, and whose latest movie will compete at this month’s Cannes film festival, said he […]

General World News

Steve Resch talks about financial planner relationships for reverse lenders

Posted on

Steve Resch, vice president of retirement strategies at leading reverse mortgage industry lender Finance of America, knows a lot about the intersection between the interests of financial planning professionals and reverse mortgage industry members. Financial planners have been, and remain, one of the most sought-after referral partnerships for reverse mortgage professionals to establish ties with. […]

General World News

Republican senator takes aim at Biden’s housing policies

Posted on

While the U.S. Department of Housing and Urban Development (HUD) exists to facilitate the needs that Americans have for housing — needs that are challenged by affordability, inventory, mortgage rates and more — recent policies of the Biden administration have hindered affordability by focusing on climate-related housing issues instead of costs. This is according to […]

General World News

Reverse appraisal company hires former AAG chief appraiser

Posted on

Atlas VMS, the appraisal and valuation company led by Erik Morin, announced this week the appointment of Joe Pravettone as chief appraiser. The company describes the hire as a “significant addition” to its leadership team. Pravettone began his valuation career roughly 25 years ago, starting as an independent fee appraiser and ultimately working for both […]

General World News

Healthier Foods, Healthier Minds

Posted on

By: Cindy Long, Administrator, USDA Food and Nutrition Service Setting kids up for success. It’s what every parent, guardian, and educator wants for our nation’s schoolchildren. They understand the power that small changes have to make a big difference in the learning environment. That’s why here at USDA, we recently announced a generational investment in […]

General World News

Three yards and a cloud of dust

Posted on

It’s an election year, and housing affordability appears to be a big concern for voters. So, it’s not surprising to see the administration and members of Congress announcing big ticket legislative initiatives to boost homeownership – like a 1st time homebuyer tax credit and the Neighborhood Investment Act to fix up older homes.  The Community […]

General World News

FinLocker raises $17M in Series B funding round

Posted on

FinLocker, the St. Louis-based developer of a leading white-label financial fitness and homeownership platform, announced the closure of a $17 million Series B funding round on Tuesday. The investment from Radian Group and existing shareholders will enable FinLocker to introduce a suite of new features and tools designed to optimize the homebuying and homeownership experience. […]

General World News

Second-home mortgage market slumped in 2023: Redfin

Posted on

In 2023, home purchases slowed across the board due to low levels of inventory, high mortgage rates and soaring home prices. Simultaneously, the appetite for second homes also diminished substantially.  Nationwide, 90,772 mortgages for second homes were originated in 2023, down 40% from a year earlier and down 65% from the height of the post-pandemic […]

General World News

Former Norcom reverse mortgage team moving to Supreme Lending

Posted on

The former reverse mortgage team from Norcom Mortgage in Avon, Connecticut — which elected not to move to CMG Financial following its acquisition of Norcom last month — has selected Texas-based Supreme Lending as its new home, with John Luddy serving as SVP of reverse lending. After engaging in conversations with multiple lenders following the […]

General World News

Guaranteed Rate expands its Community Engagement Initiative

Posted on

Chicago-based mortgage lender Guaranteed Rate rolled out the second wave of its Community Engagement Initiative, the company announced on Monday. Launched in 2023, the program aims to improve funded loan volumes in underserved communities nationwide.  “Traditional lending practices have overlooked Black and Latino communities, as well as low to moderate-income areas,” Camilo Escalante, executive director […]

General World News

EasyKnock acquires home equity investment company HomePace

Posted on

Residential sale-leaseback platform EasyKnock has acquired the assets of home equity investment firm HomePace, the company exclusively told HousingWire on Monday.  Goodwin Procter, a global law firm, acted as legal adviser for the deal, but further terms were not disclosed. HomePace, founded in 2020, specializes in helping homeowners access their equity through home equity agreements. […]

General World News

FSOC recommends more regulation and liquidity for nonbank servicers

Posted on

A recently published report by the Financial Stability Oversight Council (FSOC) identified vulnerabilities at nonbank mortgage servicers that pose risks to financial stability. It recommended increased regulation and initiatives to improve these companies’ liquidity during moments of stress, but mortgage trade groups have different reactions to the proposals.  The attention on nonbank mortgage companies have increased since their […]